On January 27, 2019, the U.S. Department of Treasury, Office of Foreign Assets Control (OFAC) removed UC Rusal plc (Rusal), En+ Group plc (En+), and JSC EuroSibEnergo (ESE) from the Specially Designated Nationals (SDN) List, reducing the number of Russian entities sanctioned by the United States. Our Sanctions Team explores the implications in our recent client … Continue Reading
As the United States and Russia continue to clash over Russia’s actions in the Ukraine, on September 12, the U.S. Treasury Department’s Office of Foreign Assets Control (“OFAC”) issued additional sanctions further restricting designated Russian financial institutions’ access to capital markets, targeting Russian defense entities, and prohibiting exports to Russian entities that have been specifically … Continue Reading
Effective August 6, 2014, the United States Department of Commerce’s Bureau of Industry and Security (“BIS”) issued new regulations, identified as the “Russian Industry Sector Sanctions,” restricting exports and other transfers of certain items subject to the Export Administration Regulations (“EAR”) that may benefit Russia’s energy sector. Newly added EAR section 746.5 imposes licensing requirements … Continue Reading
The European Union has made further additions to the list of sanctioned parties under the regime put in place in response to the Russian Federation’s actions in the Crimea (Regulation 269/2014 and subsequent amendments). On 12 May 2014, the Council of the European Union published Regulation 477/2014, which added an additional 13 individuals to the … Continue Reading
The Russian Federation and the United States continue to clash over the proposed annexation of Crimea from Ukraine, with the United States adding 20 Russian officials and related persons to its list of sanctioned persons. Some of the persons recently added to the United States’ SDN List were recently sanctioned by the EU, as we … Continue Reading
Tensions continue to mount between the Russian and Ukrainian governments in the wake of a controversial referendum that threatens to expand the borders of the Russian Federation. The results of that Crimean plebiscite show that an estimated 97 percent of voters favor the Russian annexation of Crimea, but the peninsula’s ethnic Tartars boycotted the referendum. … Continue Reading
Speaking on Sunday’s talk-show circuit, Secretary of State John Kerry condemned Russia’s military intervention in the Crimea, accusing the Kremlin of invading the Ukraine and violating the UN Charter. The condemnation echoes calls from Capitol Hill to impose immediate sanctions against Russia, but Putin will likely persist despite such threats. In the past, Russia ignored … Continue Reading
