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OFAC Explained New Restrictions Against Russia
November 6, 2017 15:31


The Office of Foreign Assets Control of the United States (OFAC) issued a whole list of explanations for new sanctions against Moscow, Pyongyang and Tehran.

Based on the new requirements, Russia was in fact equated with Iran and the DPRK - now not only Russian physical and legal persons will be prosecuted, but also citizens and companies that assisted Russians in carrying out transactions. Previously, such a condition was relevant only for the DPRK and Iran, and with respect to Russia, it was extended exclusively to American citizens and companies operating under US law.

Now, the restrictions threaten absolutely all companies in the world that cooperate with Russian legal entities from the sanctions list. OFAC explains that new restrictions will be introduced for currency transactions, the transfer of financial instruments, securities, property, as well as the provision of services, personnel and technologies. 


Author: Anna Dorozhkina


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