Published :
Updated :
For all latest news, follow The Financial Express Google News channel.
The United States has not imposed sanctions on the production, manufacturing, sale, or transport of agricultural commodities including fertiliser, agricultural equipment, or medicine involving Russia, said spokesperson of the US embassy in Bangladesh on Sunday, quoting a fact sheet of the Department of Treasury.
In addition, the Office of Foreign Assets Control (OFAC) of the US treasury department has issued a broad general license to authorise certain transactions related to agricultural commodities, agricultural equipment, medicine, and medical devices.
"The United States strongly supports efforts by the United Nations to bring both Ukrainian and Russian grain to world markets and to reduce the impact of Russia's unprovoked war on Ukraine on global food supplies and prices," the spokesperson said.
The fact sheet said the US has not imposed sanctions on the exportation of agricultural commodities from, to, or involving Russia.
"In addition, to the extent transactions related to the exportation of agricultural commodities from, to, or involving Russia may be otherwise prohibited by the Russian Harmful Foreign Activities Sanctions Regulations (RuHSR), OFAC issued Russia-related GL 6B to authorize certain transactions related to the production, manufacturing, sale, or transport of agricultural commodities and agricultural equipment, among other products and activities."
The US has imposed a prohibition on the importation of Russian Federation-origin fish, seafood, and preparations thereof into the US, it said, adding that this prohibition does not restrict the importation of Russian Federation-origin fish, seafood, and preparations thereof from Russia into other countries besides the US.
It also said that the US has not imposed sanctions on the exportation of fertiliser from, to, transiting, or involving Russia.
Executive Order 14068 prohibits the importation into the US of fish, seafood, and preparations thereof; alcoholic beverages; and non-industrial diamonds of Russian Federation origin.
However, to the extent the importation of such products of Russian Federation origin into jurisdictions outside of the US does not involve a sanctioned person or an otherwise prohibited transaction, non-US persons are not exposed to sanctions under E.O. 14068.
The spokesperson said the Joint Stock Company Russian Agricultural Bank (Russian Agricultural Bank) is not listed on OFAC's SDN List - it is not subject to blocking sanctions under the RuHSR or any other US sanctions authority.
"However, U.S. persons are subject to certain restrictions on dealing in debt and equity of Russian Agricultural Bank. U.S. persons involved in a transaction where Russian Agricultural Bank is a counterparty should ensure that payment terms provided to Russian Agricultural Bank comport with these restrictions on dealing in its debt and equity."