Executive Order 13662
Further to Executive Orders 13660 and 13661 passed by President Obama on 10 and 17 March respectively, a further Executive Order has been issued in response to actions and policies of the Government of the Russian Federation, including its purported annexation of Crimea and its use of force in Ukraine, and other actions and policies which continue to undermine democratic processes and institutions in Ukraine, threaten its peace, security, stability, sovereignty, and territorial integrity, and contribute to the misappropriation of its assets.
Executive Order 13662 is specifically targeted at Russia. It is loosely worded, and would appear to open the door to broader measures against many sectors of the Russian economy, but specifically energy and raw materials exports. It enables the imposition of an asset freeze and a visa ban against any person determined by the Secretary of the Treasury, in consultation with the Secretary of State:
- to operate in such sectors of the Russian Federation economy as may be determined by the Secretary of the Treasury, in consultation with the Secretary of State, such as financial services, energy, metals and mining, engineering, and defence and related material
- to have materially assisted, sponsored, or provided financial, material, or technological support for, or goods or services to or in support of, any person whose property and interests in property are blocked pursuant to the EO; or
- to be owned or controlled by, or to have acted or purported to act for or on behalf of, directly or indirectly, any person whose property and interests in property are blocked pursuant to the EO.