Some of President Biden’s recently signed Executive Orders for sanctions responding to President Putin’s actions in Ukraine prohibit the following:
*New investment in the so-called DNR of LNR regions of Ukraine by a United States person wherever located;
*The importation into the United States, directly or indirectly of any goods or services or technology from the DNR or LNR;
The sanctions will target two Russian financial institutions and their subsidiaries: VEB, Russia’s state development corporation; and the state-backed Promsvyazbank, which focuses on the country’s defense sector. In addition, the U.S. is imposing sanctions on Russia’s sovereign debt which would likely cut Moscow off from Western financing.
A significant number of U.S. banks and businesses located here do business with Russian companies and banks including those which have been targeted. Also, additional sanctions may be under consideration to block Russian goods from being imported to the United States. Violations of the U.S. sanctions may lead to legal action by the federal government and may also result in whistleblower cases under the False Claims Act and other whistleblower statutes as well as the Securities and Exchange whistleblower program and more.
