New Updates for 11-Mar-2024

2024-03-11

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The OverRuled: Russia Trade Controls Resource Center has been updated with the following actions:

  • 29 Feb 2024 (UK):

    The Akin Summary document has now been posted for this action.

    ​The Office of Financial Sanctions Implementation ("OFSI") issued General Licence ("GL") INT/2024/4398024 to allow Persons to make Permitted Payments to the Court Funds Office, which are owed to UK designated persons ("DPs") under The Russia (Sanctions) (EU Exit) Regulations 2019. 

  • 29 Feb 2024 (UK):

    The Akin Summary document has now been posted for this action.

    The Office of Financial Sanctions Implementation ("OFSI") amended General Licence ("GL") INT/2022/2300292 in respect of Permitted Payments made by a UK designated person ("DP") or Persons acting on their behalf, to Energy Companies for gas and/or electricity. The GL is applicable to all UK Autonomous Sanctions Regulations listed within Annex I of the GL.

  • 23 Feb 2024 (EU):

    The Akin Summary document has now been posted for this action.

    ​The EU adopted the 13th package of sanctions against Russia, marking the two-year anniversary of Russia's invasion of Ukraine.

  • 22 Feb 2024 (UK):

    The Akin Summary document has now been posted for this action.

    The Office of Financial Sanctions Implementation ("OFSI") designated 21 individuals and 29 entities under the Russia sanctions regime and 2 entities under the Belarus sanctions regime, marking the 2 year anniversary of Russia’s invasion of Ukraine.

  • 22 Feb 2024 (EU):

    The Akin Summary document has now been posted for this action.

    ​The European Commission published new FAQs in respect of the "No re-export to Russia" clause pursuant to Article 12g of Council Regulation (EU) No. 833/2014.

  • 22 Feb 2024 (EU):

    The Akin Summary document has now been posted for this action.

    ​The European Commission, in coordination with its international partners in the U.S. and UK, increased the number of items on the EU's List of Common High Priority Items ("CHPI") from 45 to 50, to highlight additional dual-use goods and technology items that Russia is seeking to procure via non-sanctioned countries to develop its military and industrial complex. These items include electronic components such as integrated circuits and radio frequency transceiver modules, as well as items essential for the manufacturing and testing of the electronic components of the printed circuit boards, and manufacturing of high precision complex metal components retrieved from the battlefield in Ukraine.

  • 22 Feb 2024 (UK):

    The Akin Summary document has now been posted for this action.

    ​The UK, together with the U.S. and EU, has increased the number of items on the UK's Common High Priority Items List ("CHPI") from 45 to 50, to highlight additional types of items that Russia is seeking to procure via non-sanctioned countries to wage its war in Ukraine.

  • 20 Feb 2024 (UK):

    The Akin Summary document has now been posted for this action.

    ​The Office of Financial Sanctions Implementation ("OFSI") updated its Russia Sanctions Guidance to include an FAQ clarifying the reporting obligations for UK designated persons pursuant to Regulation 70A(5) of The Russia Sanctions (EU Exit) Regulations 2019.

  • 19 Feb 2024 (EU):

    The Akin Summary document has now been posted for this action.

    ​The European Commission added new FAQs clarifying the notification and authorization requirements for tanker sales pursuant to Article 3q of Council Regulation (EU) No. 833/2014.

  • 15 Feb 2024 (UK):

    The Akin Summary document has now been posted for this action.

    The Office of Financial Sanctions Implementation ("OFSI") amended General Licence INT/2022/2009156 in respect of Permitted Payments to UK Insurance Companies. The amendments include the removal of references to frozen UK bank accounts from Permissions 4.1, 4.3.1, 6.1, as well as changes to Permissions 5.1 and 6.6 concerning Return Payments made by UK Insurers and UK Insurance Brokers.

Please send an email to subscriptions@overruled.com, if you would like information on how to subscribe to access additional detail about these and other sanctions- and export controls-related actions. If you are already a paid subscriber, please login to OverRuled for access to exclusive content, analysis, and historic search functionality.

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