New US sanctions: ban on investments

On March 11, 2022, US President Joe Biden signed a decree on new sanctions against Russia (Executive Order on Prohibiting Certain Imports, Exports, and New Investment with Respect to Continued Russian Federation Aggression).

Among other things, the decree introduces the powers of the US Treasury Department to establish a ban on new investments in any sphere of the Russian economy. The spheres of the Russian economy in which it will be prohibited to invest will be determined separately by the US Treasury Department. The decree applies both to American citizens (including foreigners with permanent residence permits) and to any American organizations (including their foreign representative offices), regardless of their location.

Joe Biden has previously imposed a similar ban on investments in the energy sector of the Russian economy (decree of March 8, 2022), as well as a complete ban on investments in the economy of the LPR and DPR (decree of February 21, 2022).