ExecutiveOrdersEO
Notice 13660NoticeTrump 47 · R Quiet signal

Presidential Notice 13660

Continuation of the National Emergency With Respect to Ukraine

This notice continues for one year the national emergency with respect to Ukraine originally declared in Executive Order 13660 on March 6, 2014, and subsequently expanded by multiple executive orders through 2022. The continuation maintains existing sanctions and emergency authorities targeting Russian actions undermining Ukrainian sovereignty.

Federal Register Open PDF 90 FR 11009

Impact dates

  1. Continued national emergency expires unless extended again

Market exposure

Policy exposure mapping — not investment advice. Illustrative public companies are incomplete and not recommendations.

Sectors

Oil & gasBanking & financeDefense primesOther industrial

Mechanisms

Ban / prohibitionLicensing

Role pressure

  • AdverseTrading-partner exporter — Russian entities and those in occupied Ukrainian territories remain subject to blocking sanctions and trade restrictions
  • MixedDownstream manufacturer — Continued sanctions on Russian metals, energy, and inputs maintain supply chain disruptions but provide predictability that emergency will not lapse
  • ProtectiveDomestic producer — US energy and industrial producers benefit from continued restrictions on Russian competitors

Geographies

USEU

Exposure dates

  • — Continued national emergency expires unless extended again

Illustrative public companies

Curated watchlist matches by sector/role — incomplete; not a recommendation.

MMM3MAAPLAppleBACBank of AmericaBLKBlackRockBABoeingCATCaterpillarLNGCheniere EnergyCVXChevronCOPConocoPhillipsXOMExxon MobilFCXFreeport-McMoRanGEVGE VernovaGDGeneral DynamicsGSGoldman SachsHONHoneywellHSBCHSBCJPMJPMorgan ChaseLMTLockheed MartinNOCNorthrop GrummanRTXRTXSHELShellSPYSPDR S&P 500 ETFTSLATesla

Confidence: high · Policy alerts

Key directives

  • Continue national emergency declared in EO 13660 for 1 year beyond March 6, 2025
  • Publish notice in Federal Register
  • Transmit notice to Congress

Timeline

Immediate

  • National emergency continues in effect beyond March 6, 2025
  • Existing sanctions authorities remain active

Near term (90d)

  • Annual congressional notification completed
  • Federal Register publication

Long term

  • Emergency authority available through February 2026 unless terminated or extended again

Risks & tensions

  • Maintains status quo rather than altering policy; does not reflect any change in Russia-Ukraine posture
  • Annual continuation is legally required to preserve emergency authorities; non-continuation would automatically terminate sanctions architecture
  • Timing in early 2025 may signal administration's initial positioning on Russia-Ukraine policy
Presidential Notice 13660: Continuation of the National Emergency With Respect to Ukraine · Executive Orders