Russia Sanctions: The UK and EU each made over 200 additional designations. The EU designated several banks that the US previously had sanctioned, including Bank Otkritie, Novicombank, Sovcombank, and VTB Bank. Both the EU and the UK designated several oligarchs including Alexander Petaykin (associated with Trans Stroy), Evgeny Zubitskiy (Industrial Metallurgical Holding), Grigory Berezkin (ESN Group), and Said Kerimov (Polyus Gold), along with over 100 members of the People’s Council of the so-called Luhansk People’s Republic and of the People’s Council of the so-called Donetsk People’s Republic. The EU and UK also amended several previously-made designations.
Export & Import Controls: The UK, U.S., and EU all announced new export or import controls. The UK prohibited the import, acquisition, supply, and delivery of certain iron and steel products from Russia. It also prohibited the export of oil refining goods and technology, quantum computing and advanced materials goods and technology, and certain luxury items to Russia.
The U.S. expanded its export license requirements for Russia and Belarus to cover all items on the Commerce Control List (“CCL”). Previously the restriction only applied to categories 3-9 of the CCL. Correspondingly, the U.S. updated the Russia/Belarus foreign direct product rule to apply to all items on the CCL.
The EU also introduced restrictions on the import of certain seafoods, chemicals, woods, cement, glass, silver, aluminum, coal, and other solid fossil fuels from Russia. It further prohibited the export to Russia of a swath of products identified as contributing to “the enhancement of Russian industrial capacities,” and extended its prohibition on the export of banknotes to Russia to also include export to Belarus. Finally, the EU prohibited road transportation businesses (i.e. freight companies) established in Russia or Belarus from transporting goods by road within the EU.
Financial & Business Restrictions: EU persons are now prohibited to register, provide an office or address to, or to provide management services to, a trust or similar legal arrangement having as trustor or beneficiary Russian nationals, persons residing in Russia, legal persons present in or organized under the laws of Russia, or persons 50 percent or more owned by such persons. The EU also prohibited access to a variety of public procurement and public financing mechanisms for any Russian national, or a legal entity or person established in Russia. Additionally, the EU prohibited providing crypto-asset wallet, account, or custody services to Russian nationals, or legal persons in Russia, if the value is greater than 10,000 EUR.
Aviation & Maritime: The U.S. revised License Exception Aircraft, Vessels and Spacecraft (AVS) to limit its availability for certain Belarus-related aircraft, and added 10 additional planes to its list of restricted aircraft, including planes owned by Aeroflot, Utair and Belavia. The EU prohibited providing access to EU ports to any vessels registered under a Russian flag.