In an unprecedented and sweeping set of actions, the United States has implemented a robust set of sanctions and export controls against Russia designed to cripple Russia’s economy in coordination with its allies and partners. The unprecedented actions against Russia are intended to deter Russia from continuing its violent invasion of Ukraine and attacks against the Ukrainian people. The Department of Treasury Office of Foreign Asset Control and the Department of Commerce Bureau of Industry and Security has issued comprehensive sanctions against Russia’s financial industry, government investment funds, and oligarchs. The Russian sanctions and export controls raise significant compliance challenges for the U.S. and global companies conducting business in Russia in scope and complexity.
In this episode, Michael Volkov surveys the sanctions and export controls.