New Updates for 15-Sep-2023

2023-09-15

Reading Time : 1 min

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

  • 14 Sep 2023 (OFAC):

    OFAC and the Department of State designated more than 140 entities and 24 individuals, and identified 2 vessels as blocked property, all pursuant to Executive Order 14024. The sanctions target persons that have allegedly benefitted from, supported, or sustained Russia's war in Ukraine, including prominent Russian business persons, as well as Russia's industrial base, financial institutions, and technology suppliers (including certain Finnish, Turkish, and UAE companies that have contributed to these Russian sectors). In connection with this action, OFAC issued Russia General License (GL) 72, which authorizes the wind down of transactions involving certain entities that were designated on September 14, 2023 until December 13, 2023, subject to certain limitations.

  • 14 Sep 2023 (OFAC):

    ​OFAC issued amended General License (GL) 55A, which authorizes certain services related to the maritime transport of crude oil originating from the Sakhalin-2 project, extending the authorization under such GL until June 28, 2024.

  • 11 Sep 2023 (Russia - Countermeasures):

    ​The previously established gas "price caps" will remain in force for another year.

  • 09 Sep 2023 (Russia - Countermeasures):

    ​A new Russian Presidential decree updates the procedure for making payments under Russian sovereign Eurobonds.

  • 23 Aug 2023 (Australia):

    ​Content provided in collaboration with Moulis Legal.

    The Australian Government newly listed 60 individuals and 15 entities, and renewed sanctions against 40 individuals and 22 entities for involvement in the war Ukraine and performing strategic functions for Russia.

    They include certain commercial port operators, wine producers, and businessmen.

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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