The OverRuled: Russia Trade Controls Resource Center has been updated with the following actions:
- 13 May 2025 (EU):
The Council of the European Union (the "Council") issued Council Regulation (EU) 2025/903 ("Regulation 2025/903"), which amends Council Regulation (EU) 269/2014 by introducing a new criterion (Article 3(1)(m)) upon which persons who have participated in or enabled transfers of ownership, control, or economic benefit of the business interests of leading businesspersons operating in Russia, may be designated under the Russia sanctions regime.
- 12 May 2025 (UK):
The Office of Financial Sanctions Implementation ("OFSI") amended General Licence INT/2022/1678476 ("GL INT/2022/1678476"), which allows payments and other permitted activities to take place in relation to winding-down activities, basic needs, and insolvency proceedings associated with the Amsterdam Trade Bank N.V. or a subsidiary of the same. The amendments introduced permissions to allow the bankruptcy trustees of Amsterdam Trade Bank N.V to fulfill their statutory functions and extended GL INT/2022/1678476 by five years.
The OverRuled: China Trade Controls Resource Center has been updated with the following actions:
- 13 May 2025 (OFAC):
OFAC imposed sanctions on nearly two dozen entities based in the PRC, Hong Kong, Singapore, and the Seychelles, pursuant to EO 13224, as amended, for facilitating the shipment of millions of barrels of Iranian crude oil worth billions of dollars to China on behalf of Iran's Armed Forces General Staff and its commercial affiliate, Sepehr Energy Jahan Nama Pars. The revenue from the sale of this oil funds the development of ballistic missiles and unmanned aerial vehicles, as well as Iran's terrorist groups. This action is in furtherance of National Security Presidential Memorandum-2, which directs the imposition of maximum economic pressure on the Iranian regime.
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.