US cuts Russia off from IT services
Export, sale, supply of IT services from the US and through third countries will be banned from 12 September
The US Treasury Department has banned the provision of software and IT services to Russian entities as part of its expanded sanctions.
According to the document, it is prohibited to export, sell, supply from the United States and through third countries IT consulting and design, IT support and cloud software services to any person from Russia.
The decision will come into force on 12 September 2024.
"Today's actions increase the risk of secondary sanctions for foreign financial institutions that deal with Russia's military economy; limit the ability of the Russian military-industrial base to use certain services," the US Treasury Department said in a statement.
At the same time, the new bans do not apply to transactions related to telecommunications technologies and humanitarian missions.
Background. On 12 June, the US Treasury Department expanded the list of sanctions against Russia. It includes more than 300 legal entities and individuals.
The sanctions were imposed on the Moscow Exchange, the Sogaz insurance company, and the Arctic LNG 1 and Arctic LNG 3 projects.
Following the imposition of sanctions, the Moscow Exchange announced that it would suspend trading in dollars and euros starting tomorrow. Now it will be even more difficult to buy foreign currency legally. That is, it is possible, but now for a completely different fee, and not in Russia.
In addition, sanctions have been announced against all banks that have settlements with one of Russia's largest banks, Sberbank.
Experts call this "a really strong blow to the Russian financial system".
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