Win some, lose some: U.S. Russia sanctions developments

The past two weeks have entailed a flurry of sanctions developments related to Russia, including the issuance of a new executive order, and the designation of a number of entities by the U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC), the U.S. Department of State, and the U.S. Department of Commerce's Bureau of Industry and Security. It was not all bad news for business, however, as OFAC extended several general licenses (GLs) authorizing certain activities with sanctioned companies, and also published guidance further clarifying the scope of these GLs with certain favorable interpretations.

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