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Explore Russia's latest macroeconomic trends and forecasts to inform business strategy and pinpoint opportunities and risks

Economic Sanctions Imposed on Russia by the United States

Economic, diplomatic, asset freeze, trade, and travel were the major type of sanctions imposed on Russia by the US
Technology, Consumer goods, Financial Services, Aerospace and Defense, Transportation, Energy & Utility were the major sectors impacted by the sanctions imposed by the US
The US’s new sanctions against Russia and imposition of stringent export controls will have an impact on Russia’s economy, financial system, and technology

Major Sanctions Imposed on Russia by the United States

The US imposed sanctions on nearly 5,000 Russians, including its top leadership and oligarchs
Banned new imports of Russian gold to harden the sanction pressure on Moscow
The US has announced sanctions targeting big Russian banks (Sberbank and VTB) holding nearly 80% of all the country’s banking assets
Import of petroleum, coals and gas products from the Russian Federation to the US is prohibited
Government of the Russian Federation prohibited approval or financing of any transaction by a foreign person if performed by any US individual
New investment in the Russian Federation by any US individual is prohibited
Russia-wide restrictions to choke off Russia’s import of technological goods critical to a diversified economy
Ban on the export of luxury goods and any other items as may be determined by the Secretary of Commerce to the Russian Federation from the US
No more import of fish, seafood, alcoholic beverage, non-industrial diamonds, and any other products of Russian Federation origin from the Russian Federation to the US
Export of US dollar-denominated banknotes is prohibited by the Government of the Russian Federation from the US
The Biden administration continues to announce full blocking sanctions on additional Russian elites and their family members
The US will end the exportation of luxury items to any person located in the Russian Federation
President Biden’s Executive Order will also prohibit the import of goods from several signature sectors of Russia’s economy –including seafood, spirit, and non-industrial diamonds
The US plans to establish legal authority for future investment restrictions in any sector of the Russian economy and has expanded its ability to level penalties on the aerospace, marine, and electronics sectors
Washington announced new sanctions on 40 Russian defense companies and 28 firms to which it is linked, 328 members of Duma, and the chief executive of the country's largest bank
The US designated 21 entities and 13 individuals as part of its crackdown on the Kremlin’s sanctions evasion networks and technology companies, which are instrumental to the Russian Federation’s war machine
The US Treasury imposed full blocking sanctions on Sberbank, Russia’s largest state-owned bank, and Alfa-Bank, Russia’s largest private bank
Treasury has also targeted family members of President Vladimir Putin and Foreign Minster Sergey Lavrov, as well as Russian Security Council members who are complicit in the war against Ukraine
The US banned new investment in Russia and the provision of certain services to any person located in Russia by US persons
The IRS has suspended the exchange of tax information with Russian tax authorities
The US imposed sanctions on Russian commercial bank Transkapitalbankas well as on a global network of more than 40 people and entities led by US-designated Russian oligarch Konstantin Malofeyev

Explore Russia's latest macroeconomic trends and forecasts to inform business strategy and pinpoint opportunities and risks Explore Russia's latest macroeconomic trends and forecasts to inform business strategy and pinpoint opportunities and risks Visit Report Store