Sanctions Update: Sectoral Sanctions Against Russia Escalate

The United States and European Union implemented increased Ukraine-related sanctions against the Russian Federation on Sept. 12. The U.S. Treasury Department and its Office of Foreign Assets Control imposed new sanctions and strengthened existing sanctions in Russia’s financial and energy sectors. They also determined that persons operating within Russia’s defense and related materiel sector may now be subject to targeted sanctions under Executive Order 13662. In this article, SRZ attorneys Betty Santangelo, Gary Stein and former SRZ attorneys Nora Lovell Marchant and Lisa A. Prager examine the details of this recent round of sanctions.