EU Sanctions

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An overview on new Russian sanctions and export controls issued by the European Union, focusing on anti-circumvention measures and the Russian financial, military, and LNG industries.

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UK Releases General License Permitting Agricultural Commodities Exports: On November 4, 2022, the UK’s Office of Financial Sanctions Implementation (“OFSI”) issued a new general license under its Russia sanctions regime. This license permits exporters of agricultural commodities and UK Department of International Trade License holders: (1) to receive funds and economic resources from any…

New U.S. Designations: On October 26, 2022, the U.S. Department of the Treasury’s Office of Foreign Asset Control (“OFAC”) designated nine individuals and twelve entities for their involvement in the Russian Federation’s corruption and influence campaign in Moldova.  The designations included Igor Yuryevich Chayka, and Ivan Alesksandrovich Zavorotnyi, an associate of Chayka, for their…

New U.S. and UK Sanctions Partnership: On October 13, 2022, the Office of Foreign Assets Control (“OFAC”) and the UK’s Office of Financial Sanctions Implementation (“OFSI”) announced that they had concluded multi-day meetings in London involving technical exchange of information between the two sanctions authorities.  The agencies have decided to enhance OFAC-OFSI cooperation further, including…

EU Updates FAQS to Address Energy Security: On October 7, 2022, the EU updated two FAQs clarifying the impact of Council Regulation 833/2014 on the import, purchase and transfer of listed goods.  The EU clarified that Council Regulation 833/2014 prohibits the transfer of any listed goods if they originate in Russia or are exported from…

New U.S., UK, and EU Designations: On September 30, 2022, the U.S. designated 295 individuals and entities.  The new designations included 14 persons in Russia’s military industrial complex, including Sinno Electronics Co. and Taco LLC, Chinese and Armenian suppliers, for their support of a Russian defense procurement firm.  The U.S. also targeted two Russian…

Sanctions Designations:

  • U.S. Designates Numerous Individuals and Entities: On September 15, 2022, the U.S. added a number of individuals and entities to the Specially Designated Nationals and Blocked Persons (“SDN”) List.  The sanctions target Russia’s financial system, including the heads of Russia’s state-run card payment system (NSPK), central securities depository, stock exchange’s clearing
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UK Sanctions Removal and Other Amendments: On August 23, 2022, the UK delisted Mikhail Vladimirovich Razvozhayev, the Governor of Sevastopol, who had been subject to a UK asset freeze since late July 2022.  The UK published amendments for 42 other individuals and entities, primarily revising descriptions of the parties.

U.S. and UK Issue General …

EU Extends Sanctions Six Months: On July 26, 2022, the EU renewed restrictions on specific sectors of Russia’s economy until January 31, 2023.  This includes restrictions on finance, energy, technology and dual-use goods, industry, transport and luxury goods.

UK Designates 41 More Individuals and One Additional Entity: On July 26, 2022, the UK…