Frequently Asked Questions

676. What do the CBW Act Directive terms “U.S. bank” and “Russian sovereign” mean?

Answer

The CBW Act Directive defines the term “U.S. banks.”  This definition is consistent with section 4(c) of E.O. 13883, and with the definition of U.S. financial institution at 31 C.F.R. § 544.311.  The CBW Act Directive defines the term “Russian sovereign” as any ministry, agency, or sovereign fund of the Russian Federation, including the Central Bank of the Russian Federation, the National Wealth Fund, and the Ministry of Finance of the Russian Federation.   This term does not include state-owned enterprises of the Russian Federation.

Date Released
April 15, 2021