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EO 14071Executive OrderBiden · D Quiet signal

Executive Order 14071

Prohibiting New Investment in and Certain Services to the Russian Federation in Response to Continued Russian Federation Aggression

This executive order prohibits new U.S. investment in Russia and authorizes the Treasury Secretary to ban categories of services exports to Russia, building on prior sanctions. It also bars U.S. persons from facilitating foreign transactions that would be prohibited if done directly.

Federal Register Open PDF 87 FR 20999

Impact dates

  1. Treasury Secretary determination of prohibited services categories

Key directives

  • Prohibit new investment in Russian Federation by any U.S. person, wherever located
  • Prohibit exportation, reexportation, sale, or supply of services categories as determined by Treasury Secretary in consultation with State Secretary to any person in Russian Federation
  • Prohibit U.S. persons from approving, financing, facilitating, or guaranteeing foreign person transactions that would be prohibited if done by U.S. person
  • Treasury Secretary authorized to promulgate rules and regulations to implement order
  • All executive departments and agencies to take all appropriate measures to implement order

Who is ordered

Timeline

Immediate

  • New investment prohibition takes effect
  • Export/reexport/sale/supply of services as determined by Treasury becomes prohibited
  • Facilitation/approval/financing/guarantee prohibition takes effect

Near term (90d)

  • Treasury Secretary to determine categories of services subject to prohibition
  • Implementation of rules and regulations

Long term

  • Ongoing sanctions enforcement
  • Potential expansion of covered services categories
  • Structural shift in U.S.-Russia economic relations

Risks & tensions

  • Services categories to be determined by Treasury Secretary—scope of prohibition currently undefined in text, creating compliance uncertainty
  • Extraterritorial application ('wherever located') may generate international friction
  • Facilitation prohibition could capture indirect involvement by U.S. financial institutions in third-country transactions
  • No explicit licensing framework or general license provisions specified in text
Executive Order 14071: Prohibiting New Investment in and Certain Services to the Russian Federation in Response to Continued Russian Federation Aggression · Executive Orders