The OverRuled: Russia Trade Controls Resource Center has been updated with the following actions:
- 30 Oct 2024 (Switzerland):
The Swiss Federal Council adopted further sanctions against Belarus in line with the measures adopted by the EU on 29 June 2024.
- 23 Oct 2024 (BIS):
The Akin Summary document has now been posted for this action.
BIS added 26 entities to the Entity List under the destinations of the China (6), Egypt (1), Pakistan (16), and the United Arab Emirates (UAE) (3). According to BIS, these entities were designated for acquiring and attempting to acquire U.S.-origin items to support China's military modernization, as well as weapons programs and unmanned aerial vehicle (UAV) programs in both Iran and Pakistan, for evading and attempting to evade U.S. sanctions and export controls targeting Russia and Iran, and for engaging in other activities contrary to U.S. national security and foreign policy interests.
Concurrent with these designations, BIS also added one address for Chengdu Poyotencon Technology in China and removed two entities from the list: (i) Hefei Bitland Information Technology Co. Ltd. ("Hefei") under the destination of China and (ii) Sandvine Incorporated ("Sandvine") under the destinations of Canada, India, Japan, Malaysia, Sweden, and the UAE.
- 21 Oct 2024 (OFAC):
The Akin Summary document has now been posted for this action.
The Price Cap Coalition, an international coalition including the G7, the European Union, and Australia, updated its Advisory for the Maritime Oil Industry and Related Sectors (the "Advisory"), recommending additional best practices for maritime oil industry and government stakeholders to further enhance compliance with the Price Cap Coalition's price cap policy on crude oil and petroleum products of Russian origin, and to promote responsible practices to prevent and disrupt sanctions evasion.
- 21 Oct 2024 (UK):
The Akin Summary document has now been posted for this action.
The Price Cap Coalition, an international coalition including the G7, the European Union, and Australia, updated its Advisory for the Maritime Oil Industry and Related Sectors (the "Advisory"), recommending additional best practices for maritime oil industry and government stakeholders to further enhance compliance with the Price Cap Coalition's price cap policy on crude oil and petroleum products of Russian origin, and to promote responsible practices to prevent and disrupt sanctions evasion.
- 21 Oct 2024 (EU):
The Akin Summary document has now been posted for this action.
The Price Cap Coalition, an international coalition including the G7, the European Union, and Australia, updated its Advisory for the Maritime Oil Industry and Related Sectors (the "Advisory"), recommending additional best practices for maritime oil industry and government stakeholders to further enhance compliance with the Price Cap Coalition's price cap policy on crude oil and petroleum products of Russian origin, and to promote responsible practices to prevent and disrupt sanctions evasion.
- 17 Oct 2024 (OFAC):
The Akin Summary document has now been posted for this action.
The U.S. Department of the Treasury's Office of Foreign Assets Control ("OFAC") designated three entities and one individual pursuant to Russia-related Executive Order ("E.O.") 14024, for their involvement in the development and production of the Garpiya series of long-range attack unmanned aerial vehicles ("UAVs") used by Russia in its war against Ukraine.
- 17 Oct 2024 (UK):
The Akin Summary document has now been posted for this action.
The Office of Financial Sanctions Implementation ("OFSI"), together with the Foreign, Commonwealth and Development Office ("FCDO"), specified 18 oil tankers, four liquid natural gas ("LNG") vessels, and designated one entity under the UK's Russian sanctions regime, pursuant to the Russia (Sanctions) (EU Exit) Regulations 2019.
- 16 Oct 2024 (Switzerland):
The Akin Summary document has now been posted for this action.
The Swiss Federal Council adopted further measures contained within the European Union's ("EU") 14th sanctions package against Russia. The new measures come into force on October 17, 2024.
- 14 Oct 2024 (EU):
The Akin Summary document has now been posted for this action.
The Council of the European Union (the "Council") designated seven individuals and seven entities in response to Iran's military support to Russia's war of aggression against Ukraine, as well as armed groups and entities in the Middle East and Red Sea region, pursuant to Council Implementing Regulation (EU) 2023/1529.
- 14 Oct 2024 (UK):
The Akin Summary document has now been posted for this action.
The Office of Financial Sanctions Implementation ("OFSI") issued General Licence INT/2024/5294388 (the "GL") in respect of UK Government debt payments under all UK autonomous sanctions regulations.
- 10 Oct 2024 (UK):
The Akin Summary document has now been posted for this action.
The UK Government announced that the Office of Trade Sanctions Implementation ("OTSI") within the Department for Business and Trade ("DfBT") is now fully operational.
- 10 Oct 2024 (OFAC):
The Akin Summary document has now been posted for this action.
The U.S. Department of the Treasury's Office of Foreign Assets Control ("OFAC") issued a new FAQ (1197) regarding securities "held" at the U.S.-designated National Settlement Depository ("NSD").
The OverRuled: China Trade Controls Resource Center has been updated with the following actions:
- 30 Oct 2024 (OFAC):
The United States sanctioned nearly 400 entities and individuals for enabling Russia's prosecution of its illegal war.
In this action, the Department of State designated more than 120 individuals and entities based in Russia, the PRC, Hong Kong, India, Malaysia, Thailand, Türkiye, Kyrgyz Republic, Bulgaria, Germany, Singapore, Uzbekistan, and the United Arab Emirates, pursuant to EO 14024, for supporting Russia's military-industrial base.
Concurrently, OFAC sanctioned 275 individuals and entities based in Bulgaria, Russia, Greece, India, the PRC, Hong Kong, Switzerland, Thailand, Benin, Montenegro, Bermuda, Uzbekistan, Kazakhstan, Chile, Serbia, Cyprus, British Virgin Island, Belize, and Türkiye, pursuant to EO 14024, for their involvement in supplying Russia with advanced technology and equipment that it desperately needs to support its war machine.
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