Trade and Manufacturing Monitor
New U.S. Sanctions on Russia: Corporate Services Ban, Industrial Export Controls, & New SDNs
In coordination with other G7 countries, the United States announced another significant round of sanctions and export control restrictions on Russia on Sunday, May 8. These include a new ban on the provision of…
President Biden Proposes Legislation to Seize Russian Oligarch Assets for Benefit of Ukraine
Today, the Biden Administration announced a legislative proposal aimed at empowering the U.S. government to seize and forfeit property linked to Russian elites. Specifically, the proposed system would enhance and…
United States Bans Russian Ships from U.S. Ports
Yesterday, the White House issued a proclamation banning Russian-affiliated vessels from entering U.S. ports in response to Russia’s continued aggression in Ukraine, effective April 28, 2022. Banned vessels include…
OFAC Issues Fact Sheet Summarizing Humanitarian-related Authorizations Under Russia Sanctions, New Humanitarian-related General License
On April 19, 2022, the Office of Foreign Assets Control (OFAC) issued a fact sheet with guidance on various humanitarian general licenses that authorize activities otherwise prohibited by U.S. sanctions, and respond to…
U.S. Sanctions Transkapitalbank, Virtual Currency Mining Company, & Evasion Network
Today, the U.S. Office of Foreign Assets Control (OFAC) designated Transkapitalbank, a privately-held Russian commercial bank, and its subsidiary, Investtradebank, as Specially Designated Nationals (SDNs). OFAC…