The OverRuled: Russia Trade Controls Resource Center has been updated with the following actions:
- 30 May 2024 (OFAC):
The Akin Summary document has now been posted for this action.
The U.S. Department of the Treasury's Office of Foreign Assets Control ("OFAC") designated, pursuant to E.O. 14024, two Central African Republic ("CAR")-based companies for enabling Private Military Company "Wagner" ("Wagner Group") security operations and Wagner Group-linked illicit mining endeavors in the CAR. According to OFAC, these actions were taken to disrupt those supporting Russia's destabilizing activities in Africa.
- 28 May 2024 (UK):
The Akin Summary document has now been posted for this action.
The Office of Financial Sanctions Implementation ("OFSI") implemented General Licence INT/2024/4761108 ("GL"), permitting an individual, who is not designated under The Russia (Sanctions) (EU Exit) Regulations 2019 ("UK Russia Sanctions"), to make use of the retail banking services of a credit or financial Institution that is designated under UK Russia Sanctions, provided that the payments made or received are intended for the personal use of that individual under certain conditions.
- 27 May 2024 (EU):
The Akin Summary document has now been posted for this action.
The Council of the European Union ("Council") announced a new sanctions framework for imposing restrictive measures against those responsible for serious human rights violations, including the repression of civil society and democratic opposition, and undermining democracy and the rule of law in Russia.
- 27 May 2024 (EU):
The Akin Summary document has now been posted for this action.
The Council of the European Union ("Council") designated two individuals and one entity under its Russia sanctions regime (Council Regulation (EU) 269/2014), such that they are subject to asset freeze measures.
- 24 May 2024 (UK):
The Akin Summary document has now been posted for this action.
The UK implemented The Russia (Sanctions) (EU Exit) Amendment) (No.2) Regulations 2024 ("2024 Regulations") to specify additional activities under which a person or ship may be designated or specified.
- 24 May 2024 (UK):
The Akin Summary document has now been posted for this action.
The Office of Financial Sanctions Implementation ("OFSI") updated its Maritime Service Ban and Oil Price Cap Guidance ("Guidance") to include General Licence INT/2024/4423849 ("GL"), and to further clarify the exceptions to the oil price cap under The Russia (Sanctions) (EU Exit) Regulations 2019 ("Russia Regulations").
- 21 May 2024 (UK):
The Akin Summary document has now been posted for this action.
The Department for Business and Trade, together with the Export Control Joint Unit, published new guidance in respect of the sale and brokering of second-hand vessels to third countries. The guidance aims to consolidate industry awareness of possible sanctions circumvention risks, including common deceptive practices that may undermine the objectives of UK sanctions, as well as supporting businesses with tailoring their due diligence, and sanctions compliance policies and procedures.
- 21 May 2024 (UK):
The Akin Summary document has now been posted for this action.
The Department for Business and Trade updated the Russia diamonds sanctions guidance to include an additional example of evidence that demonstrates a good's supply chain history.
- 17 May 2024 (EU):
The Akin Summary document has now been posted for this action.
The European Commission ("the Commission") issued its Russian Oil Price Cap ("OPC") Compliance Alert warning EU operators of the need to adapt their business practices, review potential sanctions circumvention risks, as well as comply with the new requirements of the OPC.
- 17 May 2024 (UK):
The Akin Summary document has now been posted for this action.
The Office of Financial Sanctions Implementation ("OFSI") designated Vostochnaya Stevedore Limited Liability Company ("Vostochnaya LLC") pursuant to The Russia (Sanctions) (EU Exit) Regulations 2019, for the purposes of an asset freeze and trust services sanctions.
- 16 May 2024 (UK):
The Akin Summary document has now been posted for this action.
The Office of Financial Sanctions Implementation ("OFSI") extended the expiry date of General Licence ("GL") INT/2022/1839676 in respect of UK Persons purchasing tickets from certain designated persons or any subsidiary thereof for rail or air passenger services originating in, or within, Russia.
- 16 May 2024 (UK):
The Akin Summary document has now been posted for this action.
The Office of Financial Sanctions Implementation ("OFSI") together with the Department for Business and Trade ("DfBT") introduced new UK trade restrictions relating to the import of aluminium originating from the Republic of Belarus. The new measures also include provisions regarding director disqualification and additional reporting requirements for designated persons ("DPs") under The Republic of Belarus (Sanctions) (EU Exit) Regulations 2019 ("Belarus Regulations").
- 14 May 2024 (OFAC):
The Akin Summary document has now been posted for this action.
The U.S. Department of the Treasury's Office of Foreign Assets Control ("OFAC") designated, pursuant to E.O. 14024, one Russian individual and three Russia-based companies involved in an attempted sanctions evasion scheme consisting of a supposed divestment that attempted to unfreeze more than $1.5 billion worth of shares belonging to U.S.-designated Oleg Vladimirovich Deripaska. OFAC designated Deripaska in 2018, pursuant to E.O. 13661, for having acted or purported to act for or on behalf of, directly or indirectly, a senior official of the Government of the Russian Federation, as well as, pursuant to E.O. 13662, for operating in the energy sector of the Russian Federation economy. Deripaska is also sanctioned by Australia, Canada, the European Union, New Zealand, and the United Kingdom.
- 14 May 2024 (EU):
The Akin Summary document has now been posted for this action.
The European Union Commission published updated FAQs on media restrictions in relation to Article 2f of Council Regulation (EU) 833/2014 and Article 2 of Council Regulation (EU) 269/2014. Updates were made to four FAQs.
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