The OverRuled: Russia Trade Controls Resource Center has been updated with the following actions:
- 26 Jun 2024 (OFAC):
OFAC issued amended General License ("GL") 55B, which authorizes certain services related to the maritime transport of crude oil originating from the Sakhalin-2 project, extending the authorization under such GL until 12:01 a.m. Eastern Daylight Time on June 28, 2025.
- 26 Jun 2024 (Japan):
Japan prohibited the export of certain goods to seven Chinese entities, one Indian entity, and one Kazakhstani entity.
- 21 Jun 2024 (Japan):
Japan designated an additional 11 individuals and 29 entities as sanctions targets because of the situation surrounding Ukraine.
In addition, Japan prohibited the export all goods and technologies (excluding relief supplies provided free of charge and publicly known technologies) to additional Russian, Uzbek, Chinese, Indian, and Kazak entities that are suspected to be involved in sanction circumvention activities.
The OverRuled: China Trade Controls Resource Center has been updated with the following actions:
- 25 Jun 2024 (OFAC):
OFAC designated nearly 50 entities and individuals in Iran, Türkiye, Tehran, Hong Kong, the UAE, and the Marshall Islands, pursuant to EO 13224, that constitute multiple branches of a sprawling "shadow banking" network used by Iran's Ministry of Defense and Armed Forces Logistics ("MODAFL") and Islamic Revolutionary Guard Corps ("IRGC") to gain illicit access to the international financial system and process the equivalent of billions of dollars since 2020.
This network enables MODAFL and the IRGC to disguise the revenue they generate abroad that is then available to use for a range of MODAFL and IRGC activities, including the procurement and development of advanced weapons systems such as unmanned aerial vehicles. This revenue also supports the provision of weapons and funding to Iran's regional proxy groups, including Yemen's Houthis, who continue a campaign of reckless attacks on global shipping, as well as the transfer of UAVs to Russia for use in its war of aggression against Ukraine.
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