Executive Order on Blocking Property with Respect to Specified Harmful Foreign Activities of the Government of the Russian Federation (EO 14024)

Date issued: Apr. 15 2021

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TURBOFAC Commentary (2064 words)

Notes:

1) BACKGROUND; RELATION TO PRE-EXISTING RUSSIA-RELATED SANCTIONS AUTHORITIES

EO 14024, which was issued on April 17, 2021, establishes a new Russia-related “national emergency.” From a substantive perspective, the new “national emergency” overlaps significantly with national emergencies declared under other executive orders. The designation criteria set out in the EO include authorities to designate persons involved in (i) “malicious cyber-enabled activities” (compare EO 13694), (ii) “interference in a United States or other foreign government election” (compare EO 13848) and (iii) “transnational corruption” (compare EO 13818). Legally, however, the EO is completely distinct from all other executive orders dealing partially or primarily with Russia-related issues.

Of crucial importance, persons subject to sanctions under EO 14023 are not subject to “secondary sanctions.” See FAQ # 546, which was not amended upon the issuance of EO 14023....