U.S. regulations implementing executive order, Russia-related sanctions regulations

Final rule adding regulations to implement a Russia-related executive order (April 2021)

Russia-related sanctions regulations

The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) today released for publication in the Federal Register a final rule adding regulations to implement a Russia-related executive order (April 2021).

According to the final rule [PDF 303 KB], OFAC intends to supplement the regulations with a more comprehensive set of regulations, which may include additional interpretive guidance and definitions, general licenses, and other regulatory provisions.

Summary

  • The president in April 2021 issued Executive Order (E.O.) 14024, “Blocking Property With Respect To Specified Harmful Foreign Activities of the Government of the Russian Federation.”
  • In E.O. 14024, it was noted that specified harmful foreign activities of the government of Russia constitute an unusual and extraordinary threat to the national security, foreign policy, and economy of the United States, and a national emergency was declared to deal with that threat.
  • OFAC is issuing today’s “Russian harmful foreign activities sanctions regulations” to implement E.O. 14024.
  • The regulations are being published in abbreviated form for the purpose of providing immediate guidance to the public.
  • OFAC intends to supplement these regulations with a more comprehensive set of regulations, which may include additional interpretive guidance and definitions, general licenses, and other regulatory provisions. 


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