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Determination Pursuant to Executive Order 14024 of April 15, 2021​ (Effective March 31, 2022)

Date issued: Mar. 31 2022

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Determination Pursuant to Section 1(a)(i) of Executive Order 14024

Section 1(a) of Executive Order (E.O.) 14024 of April 15, 2021 ("Blocking Property With Respect To Specified Harmful Foreign Activities of the Government of the Russian Federation") imposes economic sanctions on any person determined by the Secretary of the Treasury, in consultation with the Secretary of State, or the Secretary of State, in consultation with the Secretary of the Treasury, to operate or have operated in such sectors of the Russian Federation economy as may be determined, pursuant to section 1(a)(i) of E.O. 14024, by the Secretary of the Treasury, in consultation with the Secretary of State.

To further address the unusual and extraordinary threat to the national security, foreign policy, and economy of the United States described in E.O. 14024, and in consultation with the Secretary of State, I hereby determine that section 1(a)(i) shall apply...

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TURBOFAC Commentary (132 words)

Notes:

1) Refer to section 3(b) of the comments to EO 14024 and, more generally, General Note on "Sectoral Sanctions" and Determinations Made Pursuant to EOs Providing for the Blocking of Persons Determined to "Operate In" a Certain Sector. Note that as of 2-25-23 OFAC has not used this designation criterion in a way that would merit inclusion in the Research System as a "quasi-secondary sanctions" enforcement action (refer to Introductory Note Common to all Derivative Designation Notices Included in the Research System).

2) See notable related designation notice at U.S. Treasury Severs More Networks Providing Support for Putin and Russia’s Elites.

2) See notable related designation notice at Treasury Sanctions Entities for Transporting Oil Sold Above the Coalition Price Cap to Restrict Russia’s War Machine (price...