EPRS Admin By / April 29, 2022

Main US and EU sanctions as of 22 April 2022

Main US and EU sanctions as of 22 April 2022

Main US and EU sanctions as of 22 April 2022

Some US sanctions have been coordinated with the EU and other G7 members. A major step was to block the Russian Central Bank’s reserves and cut off many banks from the SWIFT international payment system. This was followed by limits on ‘golden passports’ and the launch of the Russian Elites, Proxies, and Oligarchs (REPO) task force (G7 plus Australia), which seeks to find, freeze and/or confiscate the assets of sanctioned individuals. The sanctions have come in waves, but in some fields the US has gone further than the EU, which is more exposed to Russia in terms of energy supply and investment. The US has banned all new investment in Russia (the EU just in the energy sector). The US has also prohibited all coal, LNG, and oil imports (the EU only coal and other solid fossil fuels). US export controls cover both the oil and gas sectors, (the EU targets the former, plus technology and goods used for liquefaction of natural gas).


Related Articles

Be the first to write a comment.

Leave a Reply