Trade law and supply chain news, insights, and commentary
Sanctions Designations:
Crude Oil and Petroleum Price Cap: On September 2 2022, the G7 Finance Ministers issued a statement demonstrating their intent to implement a price cap on Russian-origin crude oil and petroleum products. The G7 countries plan to prohibit the provision of services that enable maritime transportation of these products unless the products are purchased…
Russia Sanctions: This week the European Union designated three additional individuals. Two of the individuals are members of the Duma who undermined the territorial integrity, sovereignty, and independence of Ukraine by voting in favor of a resolution regarding the need to recognize the so-called Donetsk People’s Republic and Luhansk People’s Republic. The other sanctioned…
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 …
UK Publishes General License for Energy for Mongolia: On August 16, 2022, the UK published General License INT/2022/2085212 for Mongolia energy payments. The license permits payments to the Credit Bank of Moscow, Gazprombank, Sberbank, Rosbank PJSC, or any entity owned or controlled by these banks, for the purpose of making energy available for use…
Russia Sanctions: This week the United Kingdom updated the listings for several sanctioned persons by making 17 amendments to designated individuals and 10 amendments to designated entities. The amendments included revisions to dates of birth, addresses, and descriptions.
General Licenses: On August 5, 2022, the United Kingdom issued general license (“GL”) INT/2022/2055384. The…
Russia Sanctions: The UK designated 63 individuals this week, including several war correspondents embedded with Russian forces in Ukraine that work at Channel One, a major state-owned media outlet in Russia. The UK also designated one entity, Evraz PLC, a UK-incorporated holding company of a multinational steel manufacturing and mining company group. Additionally, the…
Russia Sanctions: The UK designated 63 individuals this week, including several war correspondents embedded with Russian forces in Ukraine that work at Channel One, a major state-owned media outlet in Russia. The UK also designated one entity, Evraz PLC, a UK-incorporated holding company of a multinational steel manufacturing and mining company group. Additionally, the…
Russia Sanctions: There were limited developments this week. There has been speculation that the EU would release its sixth round of sanctions against Russia, but no updates have been reported thus far. The new package of sanctions is still expected soon. The U.S. and UK also did not expand their list of designations this…
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…
