On 16 May 2022, the Council of the EU (the Council) decided for the third time to prolong its restrictive measures against cyber-attackers threatening the EU, its Member states or its allies. The measures are set to remain in place
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April 18 – May 2, 2022 Russian Sanctions Update
Between April 18 and May 2, 2022, the US government continued to ratchet up economic sanctions, export controls, and other restrictive trade measures targeting Russia. Most significantly, on April 21, President Biden issued a Proclamation prohibiting “Russian-affiliated vessels” from entering…
US Sanctions on Russia Continue to Grow
Between April 5 and April 17, 2022, the US government took several steps to ratchet up economic sanctions, export controls, and other restrictive trade measures targeting Russia and Belarus.
President Biden issued a new Executive Order prohibiting US persons from…
A Summary of The Latest US Sanctions on Russia
Between March 24 and April 1, 2022, the US Treasury Department’s Office of Foreign Assets Control (OFAC) designated over 400 Russian elites, Duma members, and defense companies as Specially Designated Nationals (SDNs) pursuant to Executive Order (EO). 14024. OFAC also…
A Summary of New UK Sanctions Enforcement Powers and Further Ukraine-related UK Sanctions on Russia and Belarus
Since March 14, 2022, the United Kingdom has continued to introduce and announce new sanctions measures in response to Russia’s invasion of Ukraine. The new UK measures include sanctions enforcement powers under the Economic Crime (Transparency and Enforcement) Act 2022,…
Update: New US Sanctions on Russia Target Certain Imports, Exports, Dollar Banknotes, and Investments
As of March 20, 2022, a new Executive Order (EO) prohibited certain imports, exports, the transfer of US dollar banknotes to Russia, and new investments involving certain sectors of the Russian economy. The US Office of Foreign Assets Control (OFAC)…
EU Adopts Fourth Package of Sanctions Against Russia
On March 15, the Council of the EU proceeded to adopt the fourth package of sanctions against Russia over the continued military aggression of Ukraine. With these new sanctions, the EU seeks to address potential loopholes under the first three…
What US Financial Institutions Need to Know about FinCEN’s Russian Sanctions Evasion and Ransomware Guidance
On March 7, 2022, the Financial Crimes Enforcement Network (FinCEN) of the US Department of the Treasury published guidance (Guidance) for US financial institutions warning about: (1) efforts of foreign actors to evade expanding US economic sanctions and trade restrictions…
Update: EU Adopts Additional Sanctions Against Russia and Belarus over the War in Ukraine
Since the adoption of the first sanctions package against Russia, the Council of the EU and the European Commission (“Commission”) have been working closely together to adopt increasingly severe sanctions to force President Putin back to the negotiating table in…
Round Up of New UK Sanctions and Export Controls on Russia and Belarus
Since March 8, 2022, the United Kingdom has continued to introduce and announce new sanctions and export controls measures in response to Russia’s invasion of Ukraine. The new UK measures include the designation of hundreds of individuals, the introduction of…