Sanctions against Russia have put a damper on the enthusiasm of working with Russian businesses. The costs of doing business with Russia may far exceed the benefits because of a web of challenges, including navigating the sanctions regime. In this article, we discuss sanctions against “sectors” of the Russian economy. This type of sanctions applies to companies and individuals in Russia’s financial, energy, and defense sectors. Unlike blanket sanctions against individuals and companies on the Specially Designated Nationals and Blocked Persons List (SDN List), sectoral sanctions are directed at certain sectors.
As businesses enter global markets, they may fail to recognize risks lurking beneath the surface. The U.S. government employs a range of tools to alter or deter what it views as objectionable behavior. The U.S. government targets not only foreign governments, but also individuals and businesses. We provide an overview of economic sanctions, especially as they affect doing business with Russia. We provide an overview of Russia sanctions against Specifically Designated Nationals known as SDNs.
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