Ukraine-Russia conflict [24]: US Treasury expands and intensifies sanctions on Russia, targeting key sectors, evasion efforts and military supplies

On 24 February 2023, the one-year anniversary of the Russian invasion of Ukraine, the U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) announced significant actions that targeted Russia's financial services sector, sanctions evasion, Russia's military supply chain, and metals and mining sector. Herbert Smith Freehills elucidates the latest constraints.

Jonathan Cross (+1 917 542 7824, jonathan.cross@hsf.com) is a partner in the New York office of Herbert Smith Freehills.

On 24 February 2023, the one-year anniversary of the Russian invasion of Ukraine, the U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) announced significant actions that targeted Russia's financial services sector, sanctions evasion, Russia's military supply chain, and metals and mining sector. Herbert Smith Freehills elucidates the latest constraints.