United States of America: Adopted OFAC Order enacting Executive Order on Blocking Property related to harmful activities of the Russian Government

On 28 February 2022, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) adopted the "Russian Harmful Foreign Activities Sanctions Regulations", enacting the Presidential Executive Order titled "Blocking Property With Respect To Specified Harmful Foreign Activities of the Government of the Russian Federation" issued on 15 April 2021. The Regulations indicate that, unless the activity is licensed by the office, it is forbidden to transact with the Central Bank of the Russian Federation, the National Wealth Fund of the Russian Federation and the Russian Ministry of Finance. The ban includes any digital transaction. The Regulations will be implemented on 1 March 2022.