The OverRuled: Russia Trade Controls Resource Center has been updated with the following actions:
- 20 Jul 2023 (OFAC):
On July 20, 2023, OFAC and the U.S. Department of State designated over 110 individuals and entities, and identified 14 vessels as blocked property, in an action aimed at impeding Russia’s access to battlefield supplies and military or sensitive dual-use goods and technology; limiting Russia’s revenue from extractive industries; and further degrading Russia’s access to the international financial system. In total, OFAC and the U.S. Department of State designated 18 individuals and 95 entities pursuant to E.O. 14024. Additionally, the U.S. Department of State identified 14 vessels as blocked property. These sanctioned individuals and entities operate in a variety of industries, including the defense and related materiel, technology, electronics, energy, finance, and metals and mining sectors of the Russian Federation economy. The designations include, among others, Russian government officials; suppliers, importers, and producers of sensitive dual-use goods and technologies and munitions; manufacturers of equipment and chemicals for the energy industry; private military companies; and five additional Russian financial institutions. While most of the individuals and entities designated in this action are based in Russia, entities based in the Kyrgyz Republic, Serbia, and United Arab Emirates were also designated.
Concurrent with these designations, OFAC issued two general licenses: (i) General License 70, which authorizes the wind down of transactions involving Joint Stock Company Ural Mining and Metallurgical Company and its subsidiaries until October 18, 2023, subject to certain conditions, and (ii) General License 71, which authorizes the wind down and rejection of certain transactions involving five Russian financial institutions designated on July 20, 2023, as well as their subsidiaries, until October 18, 2023, subject to certain conditions.
- 20 Jul 2023 (Canada):
Content provided in collaboration with McCarthy Tétrault.
The alert discusses major changes to the Canadian economic sanctions regime pertaining to the "deemed ownership" rule.
- 20 Jul 2023 (Canada):
Content provided in collaboration with McCarthy Tétrault.
Canada imposes sanctions on 20 individuals and 21 entities connected to Russia's military-industrial complex, and on 19 individuals and 4 entities in the Russian cultural and education sectors under the Special Economic Measures (Russia) Regulations.
- 20 Jul 2023 (Ukraine):
Content provided in collaboration with Sayenko Kharenko.
Ukraine suspended the Agreement on cooperation in the field of labor migration and social protection of migrant workers and the Protocol on amendments to the Agreement on cooperation in the field of labor migration and social protection of migrant workers of April 15, 1994, regarding Ukraine's relations with the Russian Federation and Republic of Belarus.
- 20 Jul 2023 (Ukraine):
Content provided in collaboration with Sayenko Kharenko.
Ukraine terminated the Agreement between Ukraine and the Republic of Belarus on the mutual provision of protection of state secrets.
- 20 Jul 2023 (Ukraine):
Content provided in collaboration with Sayenko Kharenko.
Ukraine withdrew from the Agreement on the formation of the single economic area.
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.