Bans all transactions of US nationals with the Russian Central Bank and certain Russian Investment Funds
28 Feb 2022
On 28 February 2022, the Office of Foreign Assets Control announced further measures in response to the situation in Ukraine. OFAC issued Directive No. 4, which enacts a prohibition for transactions by US nationals involving the Central Bank of the Russian Federation, the Wealth Fund of the Russian Federation or the Ministry of Finance of the Russian Federation.
The measure includes any transfer of assets or foreign exchange transactions for or on behalf of these entities. Any transaction which has the purpose of avoiding, evading, causing a violation or attempting a violation of the enacted sanctions is also prohibited.
Three new Russian entities were added to OFAC’s Specially Designated Nationals list, namely the Russian Direct Investment Fund, Joint Stock Company of the Russian Direct Investment Fund and Limited Liability Company RVC Management Company.
Nature of measure:
Type:
-
Treatment and operation (Capital transfer and FOREX, Other)
Industry:
-
Services (Financial and insurance activities)
Inward FDI:
No
Outward FDI:
No
Sources:
