U.S. President Joe Biden signed an executive order on Friday enabling sanctions on financial institutions aiding Russia in evading sanctions, according to the White House. The order, part of a broader U.S. initiative against sanctions evasion, empowers Washington to expand import bans on select Russian goods, like seafood and diamonds. National Security Advisor Jake Sullivan emphasized the message that supporting Russia’s unlawful actions puts access to the U.S. financial system at risk. The executive order directs financial institutions to cease shipping components to the Russian defense sector or face significant sanctions. Coordinated with allies, this move signals a more aggressive U.S. enforcement stance against entities involved in sanctions violations, with an emphasis on banks and companies worldwide. The order also targets networks established by Moscow to circumvent sanctions, focusing on front companies and financial intermediaries. While immediate in effect, the order enhances the Biden administration’s ability to use secondary sanctions more strategically. It enables nuanced actions against Russian sanctions evasion, similar to measures taken against Iran. Additionally, the order provides the authority to ban products transformed outside Russia, such as diamonds and seafood. This development aligns with the Group of Seven’s recent ban on Russian diamonds, effective January 1, with phased-in restrictions on indirect imports from March 1.
By FCCT Editorial Team
, an independent military force, and allied militias in Sudan raped several dozen women and girls in West Darfur’s capital, El Geneina, and those fleeing to Chad between late April and late June 2023, Human Rights Watch said today. The assailants appear to have targeted people because of their Massalit ethnicity and, in some cases, because they were known activists.){kind=link}