Prohibiting Certain Imports, Exports, and New Investment With Respect...

Mar 15, 2022

Summary

Stops the U.S. from buying certain Russian goods, selling luxury items to Russia, and making new investments in Russia's economy.

What problem does this solve?

The Russian Federation's continued aggression created a national emergency for the United States. This order puts economic pressure on Russia by banning specific imports, exports, and new investments to address this emergency.

What does this order do?

Bans imports of certain Russian goods

Prohibits bringing Russian-origin products like fish, seafood, alcoholic beverages, and non-industrial diamonds into the United States.

Bans exports of luxury goods to Russia

Forbids U.S. persons from selling or supplying luxury goods to any person located in the Russian Federation.

Prohibits new investment in Russia

Stops U.S. persons from making new investments in any part of the Russian Federation's economy, as determined by the Secretary of the Treasury.

Stops the supply of U.S. dollars to Russia

Bans the sending of U.S. dollar-denominated banknotes from the United States to the Russian government or any person in Russia.

Prevents helping others break the rules

Prohibits any U.S. person from approving, financing, or helping a foreign person with a transaction that would be illegal for a U.S. person to do.

Makes it illegal to avoid the prohibitions

Prohibits any action or conspiracy that tries to evade or violate the bans set forth in this order.

Who does this affect?

U.S. businesses involved in trade with Russia
U.S. investors
The Russian Federation government and economy

What is the real world impact?

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Applies economic pressure on Russia

Aims to weaken the Russian economy and discourage its continued aggression by cutting off key trade and investment opportunities with the United States.

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Signals a strong foreign policy stance

Demonstrates to the world that the U.S. is taking firm action against Russia's behavior, encouraging other countries to do the same.

When does this start?

This order takes effect immediately as of March 11, 2022.

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E.O. 14071 - Prohibiting New Investment and Services to the Russian Federation