US Government imposes new sanctions on Russia

In the past several days, the US Government has issued a slew of sanctions measures targeting Russia. According to a White House Fact Sheet (see https://www.whitehouse.gov/briefing-room/statements-releases/2021/04/15/fact-sheet-imposing-costs-for-harmful-foreign-activities-by-the-russian-government/), these measures are stated to be in response to Russia’s “harmful foreign activities,” including efforts to undermine free and fair democratic elections and institutions, malicious cyber activities (including the recent SolarWinds incident), transnational corruption, targeting of dissidents and journalists, undermining national security and violating the territorial integrity of states. The latest measures include: 1. A new Executive Order 14024 (see https://www.federalregister.gov/documents/2021/04/19/2021-08098/blocking-property-with-respect-to-specified-harmful-foreign-activities-of-the-government-of-the); 2. The addition of several new parties to the OFAC Specially Designated Nationals and Blocked Persons List (see https://home.treasury.gov/policy-issues/financial-sanctions/recent-actions/20210415), and 3. A related new Directive prohibiting US financial institutions from participating in the primary market for certain ruble, as well as non-ruble, denominated Russian sovereign bonds and loans (see https://home.treasury.gov/system/files/126/sovereign_debt_prohibition_directive_1.pdf).