FedFin on: Senate Banking Questions Sanctions Regime, Vows Stronger Prohibitions

2023-02-28T16:31:06-05:00February 28th, 2023|The Vault|

In a remarkably bipartisan session, the Senate Banking Committee today made it clear that Congress wants tougher sanctions against Russia, near-term action against hold-out nations to oil-price caps and other efforts, and perhaps even confiscation of Russian assets to fund U.S. Ukraine aid.  The panel was also united on the need to swiftly punish China should relations deteriorate.  Several bills likely soon to advance were discussed, including soon-to-be-reintroduced Warren-Marshall legislation to extend AML and sanctions standards more effectively to cryptoassets and Rounds-Tester legislation (S. 168) to bar persons from sanctioned nations from purchasing agricultural property….

The full report is available to retainer clients. To find out how you can sign up for the service, click here and here.…