Media Coverage
Source: Trade & Export Finance
Media Coverage
Press Contacts: Erik Cummins, Matt Hyams, Olivia Thomas
09.21.16
Since U.S. and EU sanctions against Russia went into effect in 2014, there has been a significant amount of damage done to Russia’s international trade, leading to economic slowdown, Trade & Export Finance reports. Recently, the U.S. Office of Foreign Assets Control (OFAC) reasserted its list of banned Russian companies and individuals, a move meant to reiterate its firm stance on the sanctions, according to International Trade counsel Matthew Oresman.
The OFAC did not place additional sanctions on Russia but reminded corporations and banks of the risks attached to doing business in the region. Additionally, travel bans and asset freezes on 146 officials and 37 firms are being renewed.
“Despite progress on the U.S.-Russia relationship on topics like Syria, the U.S. still opposes Russia's action in Ukraine and Crimea,” Oresman told TXF. “There are also other disputes that will drive a continued U.S. interest in protecting its interests and projecting its strength.”