🚫Department of State Sanctions on Russian Entities Overview
Notice of Department of State Sanctions Actions Pursuant to the Executive Order Regarding Blocking Property With Respect to Specified Harmful Foreign Activities of the Government of the Russian Federation
Summary
The Department of State is publishing the names of one or more persons that have been placed on the Department of Treasury's List of Specially Designated Nationals and Blocked Persons (SDN List) administered by the Office of Foreign Asset Control (OFAC) based on the Department of State's determination, in consultation with other departments, as appropriate, that one or more applicable legal criteria of the Executive Order regarding blocking property with respect to specified harmful foreign activities of the Government of the Russian Federation were satisfied. All property and interests in property subject to U.S. jurisdiction of these persons are blocked, and U.S. persons are generally prohibited from engaging in transactions with them.
Agencies
- State Department
Business Impact
$$$ - High
The text outlines sanctions against entities related to harmful foreign activities by the Russian government, requiring U.S. businesses to ensure compliance with blocking regulations, which could impact financial transactions and partnerships. This constitutes a clear regulatory requirement for businesses operating within or engaging with impacted entities.