The sanctions announcement must be made by the sanctioning country's Head of Government, Foreign Minister, Treasury/Finance Minister, legislature, or their officially designated representatives through official government channels. Qualifying sanctions include asset freezes, trade embargoes, travel bans, arms embargoes, investment prohibitions, banking restrictions, technology transfer restrictions, sectoral sanctions, designation on official sanctions lists, prohibition of business transactions, or diplomatic sanctions with economic measures. The announcement must explicitly name the target entity and specify the type of sanctions to be imposed. Informal diplomatic protests, threats of potential sanctions, leaked information, or announcements by unauthorized personnel do not qualify. Technical updates to existing sanctions that do not expand scope to new targets also do not qualify. The market resolves based on the announcement, regardless of implementation timeline or whether sanctions are later reversed.