Russia, U.S.: Washington Steps Up Sanctions on Russian Oil Trade

Some elements of the new sanctions will come into force in February and March following a wind-down period for transactions. On June 12, 2024, the U.S. Treasury unveiled a large new package of sanctions on Russia over the war with Ukraine, including over 300 new primary sanctions designations. The Treasury also threatened secondary sanctions on financial institutions that interact with any of more than 4,500 Russian entities....