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Russia Sanctions Package - July 16

In response to Russia's ongoing violation of Ukraine's sovereignty, the United States has taken a number of steps, including sanctions, to persuade Russia to de-escalate the situation.

The sanctions package announced on July 16 comes on top of previous measures that have blocked the assets of 72 entities and individuals. The July 16 measures include designations of eight Russian defense companies and nine additional Russian and Ukrainian individuals and entities, as well as targeted sanctions prohibiting certain financing to two Russian financial institutions and two Russian energy companies.

We urge all businesses to exercise vigilance to ensure that they are not dealing with a sanctioned individual or entity. A list of sanctioned individuals and entities is available on the U.S. Treasury Department's website.

Please also consult the OFAC 50 Percent Rule for information on entities blocked by operation of law for being 50 percent or more owned by sanctioned person.

Should your firm have additional questions regarding sanctions, you may wish to address them to the U.S. State Department via email or to the U.S. Treasury Department here or here.