United States Expands Sanctions on Russia, Introduces Limited Sectoral Sanctions against Four Companies

16 July 2014
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Key takeaways:

  • The US has imposed limited sanctions on Gazprombank, Vnesheconomobank, Rosneft, Novatek and their subsidiaries.
  • The designated banks and energy companies are not blocked, but US persons are restricted from engaging in transactions involving new equity and new long-term debt of the designated companies.
  • The US has blocked the property of eight Russian arms manufacturers, including Kalashnikov Concern, as well as additional Russian government officials.