ARTICLE · 07 MARCH 2014

Crisis In Ukraine: U.S. Imposes Targeted Sanctions

Holland & Knight

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An Executive Order issued today by President Obama authorizes the blocking of property and the imposition of visa bans on individuals who threaten Ukraine's stability.

United StatesGovernment, Public Sector

Jonathan Epstein

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Jonathan Epstein is a Partner in the Washington D.C. office

HIGHLIGHTS:

An Executive Order issued today by President Obama authorizes the blocking of property and the imposition of visa bans on individuals who threaten Ukraine's stability. Under the Executive Order, the Treasury Department's Office of Foreign Assets Controls (OFAC) is likely to designate certain former and current Ukrainian officials immediately as Specially Designated Nationals (SDNs).
Given the situation in Ukraine, companies doing business there should be thinking now about contingency plans should the crisis worsen.

This morning, President Obama issued an Executive Order authorizing the blocking of property and imposition of visa bans on persons threatening stability in Ukraine. Initially, the U.S. will likely target for sanctions only certain current or former Ukrainian government officials, including ousted Ukrainian president, Viktor Yanukovych, and former prime minister

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