Ukraine-Related Sanctions: U.S. and EU Take Coordinated Action to Restrict Access of Russian State-Owned Banks to U.S. and EU Capital Markets, Restrict Trade with Russia, Including for Certain Deep Water, Arctic Offshore and Shale Exploration and Production Projects, and Sanction Additional Persons and Entities; U.S. Supplements Sectoral Sanctions Guidance

Sullivan & Cromwell LLP - August 4, 2014
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The United States and the European Union announced additional economic sanctions to address events in eastern Ukraine and Russia’s perceived continuing failure to take steps to stabilize the situation.  These latest sanctions are reported to have been the result of close diplomatic contact between the United States and the European Union, and that cooperation is expected to continue.