The OverRuled: Russia Trade Controls Resource Center has been updated with the following actions:
- 17 Apr 2023 (OFAC):
On April 17, 2023, OFAC issued an alert on Possible Evasion of the Russian Oil Price Cap (“Price Cap Evasion Alert”), which “warn[s] U.S. persons about possible evasion of the price cap on crude oil of Russian Federation origin (Russian oil), particularly involving oil exported through the Eastern Siberia Pacific Ocean (ESPO) pipeline and ports on the eastern coast of the Russian Federation.” In the Price Cap Evasion Alert, OFAC provides details regarding certain deceptive practices that OFAC is aware of with respect to the price cap on Russian oil, including Automatic Identification Systems (“AIS”) manipulation, disguised Russian port calls, and opaque shipping costs, and notes that parties should treat these practices as red flags, which may indicate noncompliance with the price cap policy requirements. OFAC also provides certain recommended measures to help ensure price cap compliance for ship owners, protection and indemnity clubs, flagging registries, and commodities brokers/oil traders.
- 31 Mar 2023 (Japan):
Japan prohibits the export to Russia of certain dual-use goods that contribute to the strengthening of Russia’s industrial base.
- 29 Mar 2023 (Switzerland):
Switzerland adopts the remaining parts of the EU's tenth package of sanctions targeting Russia.
- 01 Mar 2023 (Switzerland):
Switzerland adopts, in part, the EU's tenth package of sanctions targeting Russia and designates 87 individuals and 34 entities as additional sanctions targets.
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