The Russian Federation’s unprovoked, unilateral decision to occupy Ukraine in February 2022 set the stage for comprehensive sanctions to be imposed by global governments against the Putin regime.
Russia’s invasion caused the Biden Administration to impose crippling economic and trade sanctions on Russia, including the expansion of regulations administered by the United States Department of the Treasury’s Office of Foreign Asset Control (“OFAC”) and the United States Department of Commerce’s Bureau of Industry and Security (“BIS”).
This white paper is intended to provide legal and compliance professionals with critical insight into the applicability of these regulations. Given the highly volatile nature of current geopolitical developments, however, the reader is cautioned that the white paper itself is not a definitive sanctions guide and care should be taken to keep pace with emerging developments in the sanctions landscape by resorting to primary legal sources.
