Update on Developments Regarding the U.S. and EU Ukraine-Related Sanctions and Export Controls
18 July 2014Sanctions and Export Controls Alert
The United States has imposed new economic sanctions and export restrictions related to the situation in the Ukraine, and the European Union has announced its intent to implement additional measures. The U.S. measures do not impose territorial sanctions against Russia but continue the approach of targeting designated parties and prohibiting certain activities. In a shift toward the energy and banking sectors, the U.S. has cut off from its financial system certain new debt and equity transactions of major Russian companies. Given this development, U.S. companies should carefully review the scope of these new sanctions.