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ARTICLE · 29 MAY 2023

Additional Sanctions And Export Control Measures On Russia Following G7 Summit

Wiley Rein
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On May 19, 2023, the Biden Administration, in coordination with leaders of the Group of Seven (G7), announced new sanctions and restrictions on 300 individuals, entities, vessels, and aircraft tied to Russia following the G7 leaders' commitment t...

United StatesInternational Law
Lori E. Scheetz
Lori E. Scheetz
John R. Shane
John R. Shane
Hon. Nazak Nikakhtar
Hon. Nazak Nikakhtar
Jordan Cannon
Jordan Cannon
Paul J. Coyle
Paul J. Coyle

On May 19, 2023, the Biden Administration, in coordination with leaders of the Group of Seven (G7), announced new sanctions and restrictions on 300 individuals, entities, vessels, and aircraft tied to Russia following the G7 leaders' commitment to re-invigorate international support for Ukraine. These actions by the U.S. Departments of Commerce, Treasury, and State reflect the continued efforts of the U.S. government - in coordination with its allies - to impose costs on Russia for the ongoing war.

New U.S. Sanctions

The Department of the Treasury's Office of Foreign Assets Control (OFAC) announced 126 new additions to its Specially Designated Nationals (SDN) List, effectively blocking these entities and individuals and their 50% or more owned affiliates from the U.S. financial system and cutting them off from the U.S. market. In conjunction with the SDN designations, OFAC published a Frequently Asked Question (FAQ) related to dealings with a newly designated

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