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U.S. Announces New Sanctions on Russian Companies, Provides Guidance on Transactions Involving SSI Entities
29 July 2014
The US announced three Russian banks have been added to the Sectoral Sanctions Identification List, and United Shipbuilding Corporation, a state-owned defense company, is now subject to blocking sanctions.
OFAC published new Frequently Asked Questions discussing transactions by US persons with Russian companies on the Sectoral Sanctions Identification List.
Among other issues, the new guidance addresses depositary receipt programs, loan facilities and letters of credit, as well as issues involved in identifying newly-issued equity.
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