The U.S. Treasury has tightened sanctions against Russian companies

On 29 September, the office of foreign assets control (OFAC) of the U.S. Treasury Department issued amendments to the directives of the orders of the President of the United States on sanctions against Russia, which shorten the time of crediting of physical and legal entities under U.S. sanctions. This was reported on the website of the American Ministry of Finance.

The changes cover the financial and energy sectors of the Russian Federation and are connected with the Russian aggression in Ukraine.

While the amendments introduced in accordance with the law «On combating Russian influence in Europe and Eurasia 2017».

According to the amendments, it is prohibited to conduct operations, to provide funding or perform other monetary transactions with firms under sanctions for more than 14 days. Prior to that time operations were limited to 30 days.

In the energy sector the credit period is reduced from 90 to 60 days.

The amendments shall enter into force on 28 November 2017.

For 2014-2015 the US and European countries in several stages introduced personal and sectoral sanctions against citizens and companies involved in the annexation of Crimea by Russia and hostilities in the Donbass.

December 29, 2016, President Barack Obama signed the decree about introduction of new sanctions against Russia in connection with attacks in which the White house accused Moscow.

2 August 2017, the US President, Donald trump has signed a law on new restrictive measures against Russia, North Korea and Iran.

The U.S. Treasury has tightened sanctions against Russian companies 30.09.2017

Сентябрь 30th, 2017 by
36 queries