Service Ban from the USA to Russia

According to the decision taken by the US Treasury Department, services such as accounting, company restructuring and administrative consultancy will not be provided to anyone in the Russian Federation. Service providers that work with Russian corporations will cease operations after a 30-day transition period.

With these sanctions, decided by the US Treasury Department, after a 30-day transition period as of next Tuesday, US companies providing professional services will be prohibited from working in Russia. According to the announcement made by the Treasury Department's Office of Foreign Assets Control, areas such as accounting, company restructuring, administrative consultancy and the like will not be able to provide services to any US or US citizens in the Russian Federation. It was stated that companies that have signed contracts with the US government are obliged to comply with the Federal Procurement Directive requirement. Companies violating this ban may face criminal and civil penalties. "Breaking Russia's access to valuable professional services in the United States means increasing pressure on the Kremlin, cutting off its ability to evade sanctions imposed by the United States and its partners," US Treasury Secretary Janet Yellen said in a statement. One of the prominent names last month talked about the four big consulting companies Deloitte, Ernst & Young, Pricewaterhouse Coopers and KPMG in Russia that employ about 10 thousand people, "These consulting companies tend to serve Russian companies mostly controlled by the Kremlin. We know they are.” Last March, PwC announced that it had decided to close its Russia-based firm and stated that they would review their work with non-sanctioned Russian customers and their suitability. In May, global consultancy firm McKinsey announced that it has no commercial or operational relationship with Russia-based assets in its sanctions decisions.