US Temporarily Eases Russia Sanctions
(MENAFN) The US Treasury Department announced on Wednesday a temporary suspension of certain financial sanctions targeting Russia, effective until August 20.
This reprieve is intended to facilitate preparations for a high-level summit scheduled for Friday, where leaders from the US and Russia will meet in Alaska.
The Treasury’s Office of Foreign Assets Control (OFAC) clarified in an official statement that the exemption specifically applies to transactions that are “ordinarily incident and necessary to the attendance at or support of meetings in the State of Alaska between the Government of the United States of America and the Government of the Russian Federation.”
Importantly, the statement emphasized that this action does not permit the unfreezing or release of any assets that remain frozen or restricted due to existing sanctions imposed on Russia.
The upcoming in-person discussion between Donald Trump and Vladimir Putin will mark the first meeting between sitting presidents of the US and Russia since 2021, when Putin convened with then-US President Joe Biden in Geneva, Switzerland.
Additionally, this event represents the first occasion in which a Russian leader will set foot in Alaska since the 1867 sale of the territory by the Russian Empire to the United States.
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