REUTERS
Sanctions against the energy and banking sectors of the Russian economy that were imposed over Moscow’s aggression against Ukraine have come into effect, as stated on the U.S. Treasury website.
The Office of Foreign Assets Control of the U.S. Treasury published an updated instruction on the application of restrictions related to Ukraine and Russia.
The changes concern amendments to Ukraine and Russia-related Directive 1 and Directive 2 of September 29, 2017, according to OFAC.
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Restrictions are imposed on the terms of financing of sanctioned Russian companies by American companies and individuals, as well as from the territory of the United States.
Loan terms for Russian companies of the energy sector shall be reduced from 90 days to 60 days, and for sanctioned companies of the Russian the financial sector – from 30 days to just 14 days.