Page:2020-07-29 PSI Staff Report - The Art Industry and U.S. Policies that Undermine Sanctions.pdf/23

 '''2. Sanctions Following the Russian Federation's Invasion of Crimea'''

In 2014, President Obama issued a series of Executive Orders ("EO") that authorized Treasury to sanction individuals, assets, and companies in the Russian Federation ("Russia") following Russia's annexation of Crimea. On March 6, 2014, President Obama issued EO 13660 instructing Treasury to sanction any individual who "[undermined] democratic processes and institutions in Ukraine." On March 16, 2014, President Obama authorized additional sanctions on "persons contributing to the situation in Ukraine" through EO 13661. Under the authority of EO 13661, on March 20, 2014, Treasury designated 16 Russian government officials and four members of President Putin's inner circle, which included Arkady and Boris Rotenberg. The European Union imposed similar restrictions in response to what it perceived as Russia's "deliberate destabilization of Ukraine."

a. The Russian Invasion of Crimea

In early 2014, Russia invaded Crimea following a period of political turmoil in Ukraine. This turmoil stemmed from Ukrainian President Viktor Yanukovych's November 2013 refusal to sign a "political association and free trade agreement with the European Union." By February 22, 2014, the Ukrainian parliament voted unanimously to remove President Yanukovych.

After his removal, Yanukovych fled to Russia. Shortly thereafter, Moscow deployed forces to Crimea and declared the region as part of the Russian Federation. This invasion was significant not only because of Crimea's