Tagged: Russia Central Bank

OFAC Issues New Sanctions Against Russia’s Central Bank and Sovereign Wealth Funds

In a significant step designed to increase financial pressure on Russia in response to its invasion of Ukraine, the Department of Treasury’s Office of Foreign Asset Control (“OFAC”) issued new sanctions to prohibited United States persons from engaging the Central Bank of the Russia, the National Wealth Fund of Russia, and the Ministry of Finance.  In effect, the new sanctions freeze all Central Bank assets...