Unpacking OFAC's New Russian Accounting Services Ban

By Cari Stinebower and Dainia Jabaji (May 16, 2022, 5:23 PM EDT) -- On May 8, the U.S. Department of the Treasury's Office of Foreign Assets Control announced a determination[1] pursuant to Section 1(a)(ii) of Executive Order No. 14071, issued April 6, prohibiting new investment in, and certain services to, the Russian Federation in response to Russia's war in Ukraine.[2]

The Executive Order No. 14071 determination provides that effective 12:01 a.m. Eastern time on June 7, U.S. persons[3] are prohibited from directly or indirectly exporting, reexporting, selling or supplying accounting, trust and corporate formation, or management consulting services to any person located in the Russian Federation.

The determination excludes from these restrictions:

"any service to...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!