The US Treasury has banned US investment fund managers from buying any Russian debt or stocks on secondary markets, along with an existing ban on purchases of new issues, in its latest sanctions against Moscow over Russia’s invasion of Ukraine.
Despite sweeping sanctions imposed by Washington in the past few months, Americans are still allowed to trade in assets worth hundreds of billions of dollars already being traded on the secondary market.
In directives published on its website, the US Treasury stated that the ban extends to the Russian debt and the shares of all Russian companies, not just the shares of the companies whose names were mentioned in the sanctions.
“Consistent with our goal to deprive Russia of the financial resources it needs to continue its brutal war against Ukraine, the Treasury has made clear that American persons are prohibited from making new investments that serve Russia’s goals, including through purchases in the secondary market,” a Treasury spokesperson said Tuesday.
But the rules still allow US investors to sell or continue to hold Russian assets they already own.