Markets Wired

WASHINGTON – Following President Biden’s announcement today banning the import of Russian oil, liquefied natural gas, and coal to the United States – a significant action with widespread bipartisan support that will further deprive President Putin of the economic resources he uses to continue his needless war of choice — the U.S. Treasury released one General License and several Frequently Asked Questions to aid in the wind-down of deliveries of existing purchases that have already been contracted for.

The United States continues to take severe action to hold the Russian Federation accountable for its brutal, unprovoked invasion of Ukraine. Treasury has targeted the infrastructure supporting President Putin’s invasion of Ukraine, from his cronies to state-owned companies and even the Central Bank, restricting over 80% of the total banking assets in Russia. These actions, in coordination with partners and allies, have isolated Russia from the global financial system and degraded the Kremlin’s ability to project power.

Treasury issued:

Executive Order on Prohibiting Certain Imports and New Investments With Respect to Continued Russian Federation Efforts to Undermine the Sovereignty and Territorial Integrity of Ukraine.