US treasury says agricultural, medical products not part of Russia sanctions
The fact sheet stressed that providing insurance or reinsurance for the transportation of agricultural commodities was also not prohibited
The US Treasury Department on Thursday clarified that it had not imposed any sanctions on the production, manufacture, sale, or transport of agricultural commodities (including fertiliser), agricultural equipment, or medicine relating to Russia.
In a fact sheet published by the department, it said the Treasury's Office of Foreign Assets Control (OFAC) has issued a broad general licence (GL) to authorise certain transactions related to agricultural commodities, agricultural equipment, medicine, and medical devices.
"The United States strongly supports efforts by the United Nations to bring both Ukrainian and Russian grain to world markets and to reduce the impact of Russia's unprovoked war on Ukraine on global food supplies and prices…Agricultural and medical trade are not targets of the sanctions imposed by the United States on Russia for its atrocities in Ukraine."
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The fact sheet stressed that providing insurance or reinsurance for the transportation of agricultural commodities was also not prohibited.
"The United States has imposed a prohibition on the importation of Russian Federation-origin fish, seafood, and preparations thereof into the United States. This prohibition does not restrict the importation of Russian Federation-origin fish, seafood, and preparations thereof from Russia into other countries besides the United States," it added.
It also said US financial institutions could transactions related to the mentioned items, adding that the state-owned Russian Agricultural Bank wasn't on OFAC's specially designated nationals list, but that transactions were subject to certain restrictions on debt and equity.
The fact sheet was reflective of US policy, which exempts humanitarian, medical and agricultural products from sanctions, with some restrictions.
The US published a note in February stating that its sanctions regime didn't prohibit the import or export of agricultural commodities, medicine and medical devices to Afghanistan, The Wall Street Journal reported.
