The OverRuled: Russia Trade Controls Resource Center has been updated with the following actions:
- 24 Sep 2024 (OFAC):
The U.S. Department of the Treasury's Office of Foreign Assets Control ("OFAC") issued three new FAQs (1193, 1194, and 1195) interpreting the exclusion from the "Information Technology (IT) and Software Services Determination" for "any service to an entity located in the Russian Federation that is owned or controlled, directly or indirectly, by a U.S. person".
- 23 Sep 2024 (Russia - Countermeasures):
The restrictions previously established by the Russian Central Bank on non-Rouble transfers by Russian individual residents will continue to apply until March 31, 2025.
- 23 Sep 2024 (Switzerland):
Switzerland delisted eight individuals and amended the sanctions listing for six individuals under its Russia sanctions regime. The amended statements of reasons provide up to date information regarding the positions held by each designated individual, including the reasons for their designation.
- 20 Sep 2024 (Russia - Countermeasures):
The Russian Central Bank launches a “Know Your Client” platform, starting from October 1, 2024.
- 18 Sep 2024 (Russia - Countermeasures):
Presidential Decree No. 807 extends the ban on food imports established in 2014 until the end of 2026.
The OverRuled: China Trade Controls Resource Center has been updated with the following actions:
- 24 Sep 2024 (China - Measures and Countermeasures):
The Ministry of Commerce ("MOFCOM") announced that it has started an investigation against PVH Group, which has been accused of unreasonably boycotting Xinjiang cotton and other products.
Please send an email to subscriptions@overruled.com if you would like information on how to subscribe to access additional detail about these and other sanctions- and export controls-related actions. If you are already a paid subscriber, please login to OverRuled for access to exclusive content, analysis, and historic search functionality.