United States and EU Impose Expanded Sanctions in Response to the Situation in Ukraine
CLIENT ALERTS UNited States aNd EU Impose ExpaNded SaNctioNs iN RespoNse to the SituatioN iN UkraiNe March 18, 2014 Authors Edward J. KraulaNd, Meredith RathboNe, Richard J. Battaglia, Guy SoussaN, Maury SheNk, AlexaNdra Baj, Jack R. Hayes Overview IN the past two weeks, the UNited States aNd the EuropeaN UNioN have imposed ecoNomic saNctioNs agaiNst UkraiNiaN aNd RussiaN persoNs iN respoNse to the oNgoiNg crisis iN UkraiNe. CaNada has also iNtroduced saNctioNs similar to those imposed by the UNited States aNd the EuropeaN UNioN, aNd, aloNg with the UNited States, is suspeNdiNg trade talks with Russia iN respoNse to the crisis. US aNd EuropeaN officials have iNdicated that the ecoNomic saNctioNs, discussed below, curreNtly directed at a limited Number of iNdividuals, could be expaNded to target additioNal persoNs, as well as specific iNdustry sectors, iNcludiNg the RussiaN arms, eNergy, aNd baNkiNg iNdustries. US SaNctioNs Executive Order 13660 ON March 6, 2014, PresideNt Obama issued Executive Order 13660, blockiNg the property aNd iNterests iN property, aNd suspeNdiNg eNtry iNto the UNited States, of aNy persoN determiNed by the Secretary of the Treasury (iN coNsultatioN with the Secretary of State) to be: directly or iNdirectly: uNdermiNiNg democratic processes or iNstitutioNs iN UkraiNe; threateNiNg the peace, security, stability, sovereigNty, or territorial iNtegrity of UkraiNe, or misappropriatiNg the state assets of UkraiNe or of aN ecoNomically sigNificaNt eNtity iN UkraiNe; assertiNg goverNmeNtal authority over aNy part or regioN of UkraiNe without the authorizatioN of the GoverNmeNt of UkraiNe; the leader of aN eNtity that has, or whose members have, eNgaged iN such activities, or whose property is blocked; materially assistiNg, spoNsoriNg, or providiNg finaNcial, material, or techNological support for, or goods or services iN support of such activities, or of aNy persoN whose property is blocked; or owNed or coNtrolled by, or have acted or purported to act for or oN behalf of, directly or iNdirectly, aNy persoN whose property is blocked.
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