Blocking Property of Additional Persons Contributing to the Situation in Ukraine

Mar 24, 2014

Summary

Blocks the U.S. property of and denies entry to people and companies in key Russian industries to pressure Russia over its actions in Ukraine.

What problem does this solve?

Russia's actions in Ukraine threaten the country's peace and security, which is a danger to U.S. foreign policy. This order freezes the U.S. assets of key Russian individuals and businesses to pressure Russia to stop.

What does this order do?

Blocks property of persons in key Russian economic sectors

Authorizes the Secretary of the Treasury to freeze all U.S. property of any person or company operating in major sectors of the Russian economy, such as energy, mining, and defense.

Suspends U.S. entry for sanctioned individuals

Prevents any person sanctioned under this order from entering the United States, either as an immigrant or for a temporary visit.

Sanctions anyone who helps a blocked person

Allows the government to also block the property of any person or company that provides financial, material, or technological support to someone already sanctioned under this order.

Prohibits donations to sanctioned persons

Bans the donation of items like food, clothing, and medicine to any person whose property has been blocked by this order.

Authorizes the Treasury Department to enforce the order

Gives the Secretary of the Treasury the power to create rules and regulations necessary to carry out the sanctions and other parts of the order.

Who does this affect?

Russian individuals and companies in the financial, energy, mining, engineering, and defense sectors
The Government of the Russian Federation
U.S. persons and companies doing business with sanctioned entities

What is the real world impact?

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Applies economic pressure on Russia

Uses financial sanctions as a tool to punish the Russian Federation for its actions in Ukraine, aiming to discourage further aggression without direct military involvement.

When does this start?

This executive order became effective on March 20, 2014, the date it was signed.