April 2018 - Page 2 of 2

Russian sanctions being prepared

Posted on 19-04-201824-05-2018 by ilan

In response to the US April 6 sanctions, Russia is preparing broad countersanctions. The draft bill of Friday April 13, 2018 proposes 16 restrictions on US agricultural, food, alcohol, tobacco and medical imports. Medication for which there is no Russian replacement would be exempt.

In addition US-Russian cooperation in the fields of atomic energy, aircraft production and rocket systems is to be ended and sale of rare metals to US aerospace companies terminated.
The draft bill is scheduled for a first reading on May 15. It was postponed from April until after Russian May holidays.

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New US Sanctions announced April 6, 2018

Posted on 19-04-201824-05-2018 by ilan

On April 6, 2018 US OFAC (Office of Foreign Asset Control) issued new, severe sanctions against Russia.

Sanctions include the designation of 7 oligarchs, 13 legal entities and 17 government officials as SDNs (specially designated persons). This means that their assets in the US will be blocked. US persons are prohibited from entering into transactions with listed parties.

The persons singled out are all from Putin’s inner circle. Rationale given was that “Russian government operates for the disproportionate benefit of oligarchs and government elites … [and] engages in a range of malign activity around the globe … Russian oligarchs and elites who profit from this corrupt system will no longer be insulated from the consequences of their government’s destabilizing activities.”

Sanctions are binding on US companies and citizens but application may also stretch to non-US persons.

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