From September 30, 2023, new EU and UK sanctions will come into effect targeting the imports of specified iron and steel products which are processed in third countries and incorporate Russian-origin iron and steel inputs. Importers will need to declare upon import whether the imported goods are compliant (and be prepared to provide evidence demonstrating
Russia
Russia Not Likely to Extend Grain Initiative, Despite Record High Exports
Russia is reportedly unlikely to extend the Black Sea Grain Initiative, following negotiations in May to extend the deal past July 18th, which is the current deadline for all parties to either extend or collapse the deal. The Black Sea Grain Initiative was initially brokered by the United Nations and Turkey between Russia…
Sanctions/Export Highlights [As of August 4, 2022]
EU Designates Viktor Yanukovych and His Son: On August 2, 2022, the EU designated the former president of Ukraine, Viktor Yanukovych. Viktor Yanukovych was pro-Russia when he was president, and a Ukrainian court later found him guilty of treason. He currently resides in Russia, and the EU alleged him to be involved in a…
Sanctions/Export Highlights [As of July 21, 2022]
New UK Sanctions: On July 21, 2022, the UK introduced a new tranche of restrictions in the 14th amendment to its Russian Sanctions Regulations. Several of the new restrictions are detailed below.
The UK prohibited UK persons from directly or indirectly providing accounting services, business and management consulting services, and public relations services to…
Sanctions/Export Highlights [As of July 14, 2022]
U.S. General Licenses and Guidance: The Office of Foreign Assets Control (“OFAC”) issued four general licenses (“GLs”) this week. In GL6B, OFAC expanded the authorizations in the previous GL 6A to also permit all transactions “related to…the production, manufacturing, sale, or transport of…agricultural equipment”, in addition to the previously-authorized transactions, including transactions relating to…
Sanctions/Export Highlights [As of July 7, 2022]
Russia Sanctions: This week the United Kingdom designated several additional individuals, primarily for contributing to the spread of disinformation about Ukraine and promoting Russian actions in Ukraine, or for their affiliation with organizations that have spread disinformation relating to Ukraine, such as SouthFront and NewsFront. The United Kingdom also designated United World International, an…
Sanctions/Export Highlights [As of June 30, 2022]
Russia Sanctions: This week the United States designated dozens of additional entities and individuals as Specially Designated Nationals (“SDNs”). Notable designations included State Corporation Rostec (“Rostec”), a large Russian state-owned company that operates in the automotive, defense, aviation, and metal industries; individuals who were part of a covert procurement network linked to Russia’s Federal…
Russian Goods Falling Under 576 HTS Codes Will Be Subject to 35% Duty Rate
June 30, 2022 – The White House, continuing its efforts to escalate economic measures in response to the Russian Federation’s invasion of Ukraine, has published a list of 576 provisions of the Harmonized Tariff Schedule of the United States (“HTSUS”) under which Russian-origin products will be subject to a 35% rate of duty beginning July…
Sanctions/Export Highlights [As of June 23, 2022]
New UK Sanctions: The UK announced a new tranche of restrictions on June 22, 2022, which became effective on Thursday, June 23, 2022. As summarized on the UK government’s website, the latest prohibitions include the following:
Export Restrictions
Prohibitions on the export, supply and delivery, making available and transfer (as well as related technical…
Sanctions/Export Highlights [As of June 16, 2022]
Russia Sanctions: The U.S. today designated two key supporters of an extremist group called the Russian Imperial Movement (“RIM”) under the Specially Designated Global Terrorist program. OFAC explained that “RIM and its supporters continue to exacerbate Russia’s war of aggression in Ukraine through their fundraising efforts.”
The UK designated 12 individuals and entities under…