The OverRuled: Russia Trade Controls Resource Center has been updated with the following actions:
- 18 Dec 2023 (Russia - Countermeasures):
The Russian “oil price cap countermeasures” previously established until the end of 2023 will now apply until June 30, 2024.
- 18 Dec 2023 (Russia - Countermeasures):
The Russian President extends the application of certain countermeasures.
- 14 Dec 2023 (UK):
The UK Foreign Commonwealth & Development Office ("FCDO"), together with the Department for Business and Trade, formally announced the implementation of the UK's 7th trade sanctions package, set out in the Russia (Sanctions) (EU Exit) (Amendment) (No. 4) Regulations 2023 and the UK’s import ban on Russian diamonds, implemented by the Russia (Sanctions) (EU Exit) (Amendment) (No. 5) Regulations 2023.
In connection with these new measures, various General Licences ("GLs"), namely INT/2022/2349952, INT/2022/2300292, INT/2023/3626884, INT/2022/2009156, INT/2022/1834876, INT/2022/1839676, INT/2022/1322576, INT/2023/3024200, INT/2022/1552576, NT/2023/3179120 and INT/2023/3744968, have been updated.
Additionally, the UK has published a notice concerning the designation of a number of Russian banks in connection with Regulation 17A, concerning correspondent banking relationships.
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