The OverRuled: Russia Trade Controls Resource Center has been updated with the following actions:
- 21 May 2025 (UK):
The Akin Summary document has now been posted for this action.
The Office of Financial Sanctions Implementation ("OFSI") extended General Licence INT/2022/1834876 ("GL INT/2022/1834876" and the "GL") by three years until May 30, 2028. GL INT/2022/1834876 allows for Interim Managers and Trustees to act as receivers and managers in respect of the property and affairs of a Charity as specified in the GL.
- 20 May 2025 (UK):
The Akin Summary document has now been posted for this action.
The Office of Financial Sanctions Implementations ("OFSI") issued General Licence INT/2025/6275812, Wind Down of Positions Involving St Petersburg Currency Exchange and Non-bank Credit Organization Joint-Stock Company Petersburg Settlement Center ("GL INT/2025/6275812").
- 20 May 2025 (UK):
The Akin Summary document has now been posted for this action.
The Office of Financial Sanctions Implementations ("OFSI") issued General Licence INT/2025/6279615, Deposit Insurance Agency Permitted Payments ("GL INT/2025/6279615").
- 20 May 2025 (EU):
The Akin Summary document has now been posted for this action.
The Council of the European Union (the "Council") adopted its 17th package of sanctions measures against Russia. The new sanctions package introduces, inter alia, a significant number of new asset freeze designations (individuals, entities, and vessels), additional entities subject to tighter export restrictions, the expansion of the list of items subject to export controls that might contribute to Russia's military and technological enhancement or the development of its defense and security sector, along with an extension of the EU exemption relating to the Sakhalin-2 Project.
- 20 May 2025 (UK):
The Akin Summary document has now been posted for this action.
The Office of Financial Sanctions Implementation ("OFSI"), together with the Foreign, Commonwealth and Development Office ("FCDO"), designated 20 individuals and 62 entities for the purposes of an asset freeze, and imposed shipping restrictions against 18 vessels, pursuant to the Russia (Sanctions) (EU Exit) Regulations 2019 (the "Russia Regulations").
- 20 May 2025 (EU):
The Akin Summary document has now been posted for this action.
The Council of the European Union (the "Council") imposed restrictive measures under Council Implementing Regulation (EU) 2025/958 against 28 individuals responsible for serious violations of human rights, the repression of democratic opposition, and activities seriously undermining the rule of law in Russia.
The OverRuled: China Trade Controls Resource Center has been updated with the following actions:
- 06 Jun 2025 (OFAC):
OFAC imposed sanctions on over 30 individuals and entities based in Iran, the PRC, Hong Kong, and the UAE, pursuant to EO 13902 and EO 13846, for their ties to certain individuals who have collectively laundered billions of dollars through the international financial system via Iranian exchange houses and foreign front companies under their control, as part of Iran's "shadow banking" network. The Iranian regime leverages this network to evade sanctions and move money from its oil and petrochemical sales, which help the regime fund its nuclear and missile programs and support its terrorist proxies.
This is the first action against Iran's shadow banking network since the President issued the National Security Presidential Memorandum on February 4, 2025.
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