Medical products

US Treasury says agricultural and medical products not part of Russian sanctions

The US Treasury Department clarified on Thursday that it had not imposed any sanctions on the production, manufacture, sale or transport of agricultural products (including fertilizers), agricultural equipment or drugs linked to Russia.

In a fact sheet released by the department, he said the Treasury’s Office of Foreign Assets Control (OFAC) issued a Broad General License (GL) to authorize certain transactions related to agricultural commodities, farm equipment, drugs and medical devices.

“The United States strongly supports United Nations efforts to bring Ukrainian and Russian grain to world markets and to reduce the impact of Russia’s unprovoked war against Ukraine on world food supplies and prices. … The agricultural and medical trade is not the target of sanctions imposed by the United States on Russia for its atrocities in Ukraine.”

The fact sheet pointed out that the provision of insurance or reinsurance for the transport of agricultural products was also not prohibited.

“The United States has imposed a ban on the importation into the United States of fish, seafood and their preparations originating in the Russian Federation. This ban does not limit the importation of fish, seafood and of their preparations originating in the Russian Federation from Russia to countries other than the United States,” he added.

He also said that US financial institutions could conduct transactions related to the items mentioned, adding that the state-owned Russian Agricultural Bank was not on OFAC’s Specially Designated Nationals list, but that transactions were subject to certain debt and equity restrictions.

The fact sheet reflected US policy, which exempts humanitarian, medical and agricultural products from sanctions, with certain restrictions.

The United States issued a memo in February saying its sanctions regime does not prohibit the import or export of agricultural products, drugs and medical devices to Afghanistan, the Wall Street Journal reported.

Joan J. Dean

The author Joan J. Dean