The OverRuled: Russia Trade Controls Resource Center has been updated with the following actions:
- 09 Aug 2024 (OFAC):
The U.S. Department of the Treasury's Office of Foreign Assets Control ("OFAC") designated 19 individuals, 14 entities, and one aircraft pursuant to Belarus-related Executive Order ("E.O.") 14038. OFAC concurrently designated three of these individuals and two of these entities pursuant to Russia-related E.O. 14024. These designations target Belarusian persons and entities involved in supporting Russia's war in Ukraine through military resource production and transshipment of goods to Russia, sanctions evasion on behalf of Belarusian defense entities, and revenue generation for Belarusian oligarchs in Alyaksandr Lukashenka's inner circle.
Concurrent with these designations, OFAC issued General License ("GL") 101, which authorizes, subject to certain conditions, the wind down of transactions and certain civil aviation safety activities involving certain entities blocked on August 9, 2024.
- 08 Aug 2024 (Russia - Countermeasures):
The Russian President adopted the framework for the substitution of non-Rouble Russian sovereign Eurobonds.
The OverRuled: China Trade Controls Resource Center has been updated with the following actions:
- 31 Jul 2024 (China - Measures and Countermeasures):
The Ministry of Foreign Affairs announced sanctions against Massachusetts Representative Jim McGovern, saying that he frequently "engaged in words and deeds that interfere in China's internal affairs and undermine China's sovereignty, security and development interests" in recent years.
- 31 Jul 2024 (China - Measures and Countermeasures):
The Ministry of Commerce ("MOFCOM"), the General Administration of Customs, and the Equipment Development Department of the Central Military Commission jointly issued an announcement to adjust the export controls on certain unmanned aerial vehicles ("UAVs") and related items. The controls will take effect on September 1, 2024.
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