USA Govt. Prohibits Imports of Russian Diamonds

The US Department of the Treasury’s Office of Foreign Assets Control (OFAC) issued a new round of broad sanctions against Russia on 11th March due to its invasion of Ukraine.

USA President Biden issued an executive order on Friday “to ban further imports and exports related to Russia” … “to deny Russia export revenues and to ensure that our citizens are not underwriting Putin’s war.”

The order prohibits the importation into the United States of Russian-origin fish, seafood, alcoholic beverages, and non-industrial diamonds.

Secretary of the Treasury Janet L. Yellen said, “Today’s actions also further isolates the severely damaged Russian economy by prohibiting trade in products that are key to the economic and financial interests of all Russian elites.”

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