Biden Administration Imposes New Restrictions on Russian Sovereign Debt, Authorizes Additional Sanctions
On April 15, 2021, the Biden administration issued a new executive order (the New EO) creating broad authority to impose blocking sanctions against a wide range of individuals and entities determined to be engaged in “harmful foreign activities” of the Russian Federation.[1] In parallel with and under the authority of the New EO, the U.S. Department of the Treasury, Office of Foreign Assets Control (OFAC) issued a new directive (Directive 1) prohibiting U.S.…