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Thompson Hine LLP, a full-service business law firm with approximately 400 lawyers in 11 offices, was ranked number 1 in the category “Most innovative North American law firms: New working models” by The Financial Times and was 1 of 7 firms shortlisted for The American Lawyer’s inaugural Legal Services Innovation Award. The firm has been recognized by the National Law Journal as a Legal Technology Trailblazer and featured by Bloomberg for its innovative service delivery models, which drive accuracy and predictability. The firm’s commitment to innovation is embodied in Thompson Hine SmartPaTHTM – a smarter way to work – predictable, efficient and aligned with client goals. For more information, please visit ThompsonHine.com and ThompsonHine.com/SmartPaTH.

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<img style=" max-width: 100%; height: auto; " width="825" height="347" src="https://www.thompsonhinesmartrade.com/wp-content/uploads/sites/1018/2023/02/UkraineRussiaFlags-825x347.jpg" class="attachment-lxb_af_3_of_4-wide size-lxb_af_3_of_4-wide wp-post-image" alt="" decoding="async" loading="lazy" srcset="https://www.thompsonhinesmartrade.com/wp-content/uploads/sites/1018/2023/02/UkraineRussiaFlags-825x347.jpg 825w, https://www.thompsonhinesmartrade.com/wp-content/uploads/sites/1018/2023/02/UkraineRussiaFlags-1100x462.jpg 1100w, https://www.thompsonhinesmartrade.com/wp-content/uploads/sites/1018/2023/02/UkraineRussiaFlags-550x231.jpg 550w" sizes="auto, (max-width: 825px) 100vw, 825px" />
			On February 21, 2023, just a few days before February 24, which marks the one-year anniversary of Russia&rsquo;s invasion of Ukraine, Deputy Secretary of the Treasury Wally Adeyemo <a href="https://home.treasury.gov/news/press-releases/jy1286" target="_blank" rel="noreferrer noopener">spoke</a> on the Biden administration&rsquo;s &ldquo;comprehensive strategy to support Ukraine&rdquo; including ongoing efforts to deny Russia&rsquo;s ability &ldquo;to use the money they have to buy the weapons they need&rdquo; and &ldquo;to reduce the revenues that President Putin can use to fund his war of choice and prop up Russia&rsquo;s economy.&rdquo;&nbsp;Going forward, Deputy Secretary Adeyemo indicated that U.S. export controls and sanctions will continue to prevent Russia from accessing the equipment it needs and that sanctions &ldquo;will make it harder for the Kremlin to use the remaining resources Russia can access to pay for the weapons they need.&rdquo;
Adeyemo&rsquo;s speech provides an overview of the multilateral sanctions and export control that have been put in place by the United States and a coalition of more than 30 nations,&nbsp;and continued efforts to isolate Russia.&nbsp;He stated that the coalition &ldquo;will force those that fail to implement our sanctions and export controls to choose between their economic ties with our coalition of countries &mdash; representing more than half of the world&rsquo;s GDP &mdash; or providing material support to Russia, an economy that is becoming more isolated every day.&rdquo; While providing no specific actions or further sanctions, Adeyemo indicated that a next step would be countering Russia&rsquo;s efforts to evade sanctions. These efforts will focus on three elements:
<ul class="wp-block-list">
<li>Continuing to work closely with allies and partners, especially in the G7 and EU, and using &ldquo;all of our economic tools to give countries, companies, and individuals a choice: to do business with a coalition representing half of the global economy, or to provide material support to Russia.&rdquo;</li>
<li>Identifying and eliminating &ldquo;specific channels through which Russia attempts to equip and fund its military&rdquo; by denying Russia access to dual-use goods being repurposed and used for the war and cutting off manufacturing facilities from inputs needed to fill Russia&rsquo;s military production gaps.&nbsp;</li>
<li>Pressuring companies and jurisdictions known to be allowing or facilitating evasion including &ldquo;several of Russia&rsquo;s neighbors&rdquo; and other countries who have condemned the invasion of Ukraine but &ldquo;are falling short of their obligations to enforce the sanctions&rdquo; the U.S. and wider coalition have imposed.</li>
</ul>
Additional sanctions are expected as the anniversary date of Russia&rsquo;s invasion approaches.&nbsp;Adeyemo closed his remarks by stating that the United States is &ldquo;committed to continuing to support the people of Ukraine and to redoubling our efforts to hold Russia accountable&mdash;especially by countering efforts to evade our sanctions.&rdquo;

Department of the Treasury Previews Additional Sanctions on Russia

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