New Updates for 19-Feb-2024

2024-02-19

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

  • 15 Feb 2024 (UK):

    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.

  • 26 Jan 2024 (EU):

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

    ​The EU updated its FAQs in respect of the oil price cap to include additional guidance regarding its scope, the attestation process, potential red flags for circumvention and the obligations of shipowners, insurers and protection and indemnity clubs.

  • 26 Jan 2024 (EU):

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

    ​The EU updated its FAQs in respect of public procurement to clarify the position regarding ongoing and new public contracts, as well as the relationship between Article 5k of Council Regulation (EU) No 833/2014 and Article 2 of Council Regulation (EU) No 269/2014.

  • 23 Jan 2024 (UK):

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

    ​The National Crime Agency ("NCA"), together with the Office of Financial Sanctions Implementation, National Economic Crime Centre, His Majesty's Revenue and Customs, and the Joint Money Laundering Intelligence Taskforce, published an "Amber Alert" typology to promote greater awareness and key indicators of sanctions evasion, money laundering, and cultural property trafficking through the art storage sector.​

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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