Earlier this year, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) took sweeping action against Russia and its war efforts against Ukraine.
In addition to designating, or sanctioning, individuals and entities critical to the Russia’s ability to wage war, “OFAC identified accounting, trust and corporate formation, and management consulting as categories of services that are subject to a prohibition on the export, reexport, sale, or supply, directly or indirectly, from the United States, or by a U.S. person, wherever located, to any person located in the Russian Federation, pursuant to Executive Order (E.O.) 14071.”