Client Alert
U.S. Targets Russian Insiders President Obama Imposes Additional Sanctions in Response to Ukraine Crisis
March 18, 2014
BY THE PAUL HASTINGS GLOBAL TRADE CONTROLS TEAM
The referendum to separate Crimea from Ukraine and join the Russian Federation was overwhelmingly approved, and Russia is now taking formal steps to annex the region. In response to these events, the Obama Administration issued new sanctions targeting individuals and entities in the Russian Federation, including any Russian Federation officials. This step marks the most comprehensive sanctions the U.S. has imposed on Russia since the Cold War and carries the potential to change dramatically the tone of US-Russian relations. While the sanctions may have more symbolic value than immediate practical impact on the targeted individuals, the Russian response could be dramatic, and the unfolding events underscore the need for U.S. persons doing business in Russia and Ukraine to review their relationships and develop exit strategies and other risk mitigation measures.
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