The OverRuled: Russia Trade Controls Resource Center has been updated with the following actions:
- 24 Nov 2023 (UK):
The Akin Summary document has now been posted for this action.
The Office of Financial Sanctions Implementation ("OFSI") amended General Licence ("GL") INT/2023/3566356 in respect of Correspondent Banking Payments pursuant to Regulation 64 of the Russia (Sanctions) (EU Exit) Regulations 2019 and Regulation 32 of the Republic of Belarus (Sanctions) (EU Exit) Regulations 2019.
- 17 Nov 2023 (BIS):
The Akin Summary document has now been posted for this action.
BIS added four entities under nine entries to the Entity List, including one entity in India and one entity in Russia. BIS added the Indian entity for providing support to Russia's military and/or defense industrial base. BIS also added one entity located in Russia for supplying U.S.-origin aircraft parts to representatives of Nicolás Maduro in Venezuela. These entities did not receive a footnote 3 designation.
- 17 Nov 2023 (UK):
The Akin Summary document has now been posted for this action.
The UK's Office of Financial Sanctions Implementation ("OFSI") published its guidance clarifying the UK government's approach to establishing ownership and control pursuant to The Russia (Sanctions) (EU Exit) Regulations 2019.
- 16 Nov 2023 (OFAC):
The Akin Summary document has now been posted for this action.
OFAC identified three vessels as blocked property (the "Blocked Vessels") and designated each of their respective owners, under E.O. 14024, for operating in the marine sector of the Russian Federation. According to OFAC, the three vessels carried Russian crude oil at prices above $60 per barrel, following the implementation of the price cap policy. The Blocked Vessels used U.S. person services when transporting the Russian-origin crude oil. These actions were taken as a part of the U.S. Department of Treasury's commitment to reducing Russian oil profits and ensuring a reliable supply of crude oil and petroleum products to the global market. OFAC and the Department of State additionally designated three current and former officials of Balkan states, as well as certain affiliated Balkans- and Russia-based entities, pursuant to E.O. 14024, for their activities in the Russian Federation and operations in certain sectors of the Russian Federation economy, including one entity based in the Republika Srpska that facilitated the illegal transfer of helicopter engines manufactured in Ukraine to Russia.
Concurrent with these actions, OFAC issued Russia General License 77, which authorizes the docking and anchoring of the Blocked Vessels, the preservation of the health of the Blocked Vessels' crew, emergency repairs of the Blocked Vessels, and environmental mitigation and protection activities relating to any of the Blocked Vessels until 12:01 a.m. Eastern Standard Time, February 14, 2024, subject to certain conditions.
- 13 Nov 2023 (UK):
The Akin Summary document has now been posted for this action.
The Office of Financial Sanctions Implementation ("OFSI") amended General Licence INT/2022/1552576 in respect of payments to the London Court of International Arbitration by Designated Persons ("DPs"), companies owned and controlled by DPs, or their legal representatives, to cover their arbitration costs.
- 10 Nov 2023 (UK):
The Akin Summary document has now been posted for this action.
The Office of Financial Sanctions Implementation ("OFSI") amended General Licence INT/2022/1839676 in respect of UK Persons purchasing tickets from a designated person or any subsidiary for passenger rail or passenger air journeys originating in, or within, Russia.
- 08 Nov 2023 (UK):
The Akin Summary document has now been posted for this action.
The UK designated 20 individuals and 9 entities pursuant to The Russia (Sanctions) (EU Exit) Regulations 2019 for the purposes of an asset freeze and trust services sanctions.
- 08 Nov 2023 (BIS):
The Akin Summary document has now been posted for this action.
BIS renewed its Temporary Denial Order ("TDO") on Russian airline Rossiya Airlines for the third time. This renewal is an extended renewal for a period of one year.
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