E.O. 14071 - Efforts To Prohibit New Investment in and Certain Services in Response to Continued Aggression

Date issued: Apr. 06 2022

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TURBOFAC Commentary (1500 words)

Notes:

1) BACKGROUND:

This EO is highly irregular, containing (i) "new investment" prohibitions applying to the entirety of an otherwise non-embargoed country, and (ii) authorization for future prohibitions related to "categor[ies] of services". The EO also contains an explicit facilitation prohibition (which would otherwise imply on an implicit basis. See General Note on Explicit and Implicit "Facilitation" Prohibitions in IEEPA-based Embargoes).

Note that these prohibitions operate independent of prohibitions imposed pursuant to EO 14024, even though the activities prohibited by this EO are prohibited by 587.201(b) of the Russian Harmful Foreign Activities Sanctions Regulations (“All transactions prohibited pursuant to any further Executive orders issued pursuant to the national emergency declared in E.O. 14024 are prohibited pursuant to this part.”) Refer to General Note on the Relationship...