The OverRuled: Russia Trade Controls Resource Center has been updated with the following actions:
- 24 Jul 2024 (UK):
The Office of Financial Sanctions Implementation ("OFSI") amended the expiry date of General Licence INT/2022/1710676 in respect of the continuation of business with Evraz Plc's North American subsidiaries.
- 23 Jul 2024 (UK):
The Office of Financial Sanctions Implementation ("OFSI") amended Permission 5.2 of UK General Licence INT/2022/1280876 (the "GL") in respect of Insolvency Proceedings that apply to OWH SE, the EU subsidiary of VTB (formerly known as VTB Bank (Europe) SE). The Permissions at 5.2 of the GL have been extended with reference to the German Stock Corporation Act and Council Regulation (EC) No 2157/2001.
- 19 Jul 2024 (UK):
The Office of Financial Sanctions Implementation ("OFSI") updated its Financial Sanctions FAQs to provide further guidance in respect of trust services sanctions and UK General Licence INT/2024/4919848 ("GL INT/2024/4919848"). The new FAQs clarify the scope of the UK's trust services restrictions pursuant to Regulation 18C of The Russia (Sanctions) (EU Exit) Regulations 2019 ("Russia Regulations"), as well as the application of GL INT/2024/4919848.
- 18 Jul 2024 (UK):
The Foreign, Commonwealth and Development Office ("FCDO") specified 11 vessels forming part of Russia's "shadow fleet" for the purposes of The Russia (Sanctions) (EU Exit) Regulations 2019.
The OverRuled: China Trade Controls Resource Center has been updated with the following actions:
- 24 Jul 2024 (OFAC):
OFAC sanctioned a network of six individuals and five entities based in the PRC, pursuant to EO 13382, for their involvement in the procurement of items supporting the Democratic People’s Republic of Korea's (DPRK) ballistic missile and space programs.
The DPRK continues to violate multiple United Nations Security Council Resolutions and conduct launches using ballistic missile technology, including a recent, failed effort in May 2024 to place a military satellite into orbit. Moreover, the DPRK has supplied ballistic missiles to the Russian Federation, which continues to target civilian population centers and infrastructure in Ukraine.
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