Biden Administration Rolls Out New Tranche of Sanctions on Russia Blocking Major Russian Banks and Elites and Prohibiting New Investment

On Wednesday, April 6, 2022, the U.S. Government, in concert with the G7 and European Union, took significant additional sanctions actions against Russia “to impose severe and immediate economic costs on the Putin regime for its atrocities in Ukraine, including in Bucha.” The U.S. Government actions included:

• New Executive Order Prohibiting All New Investment in Russia and Providing for Possible Restrictions on Exports of Services;

• Blocking Sanctions on Sberbank and Alfa-Bank and Issuance of New General Licenses

• Announcement of Blocking Sanctions on Certain Russian State-Owned Enterprises

• Blocking Sanctions on Certain Russian “Elites”

• White House Commitment to Allowing Humanitarian Transactions