On September 26, 2023, in response to the escalating crisis in Ukraine resulting from Russian aggression, Australia, Canada, New Zealand, the United Kingdom, and the United States (the “Export Enforcement Five” or “E5”)...more
On November 9, 2023, the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) issued General License (“GL”) 76A to clarify that the GL applies to “Public Joint Stock Company Saint Petersburg...more
On November 2, 2023, the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) published General License (“GL”) 13G, GL 74, GL 75, and GL 76 related to the Russian Harmful Foreign Activities Sanctions...more
On October 12, 2023, U.S. Department of the Treasury’s Office of Foreign Asset Control (“OFAC”) issued General License (“GL”) 73 authorizing limited safety and environmental transactions involving certain persons and vessels...more
On October 25, 2023, the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) published General Licenses (“GL”) 8H related to the Russian Harmful Foreign Activities Sanctions Regulations, 31 CFR Part...more
On September 14, 2023, the U.S. Department of the Treasury’s Office of Foreign Asset Control (“OFAC”) issued two Russia–related general licenses...more
On August 8, 2023, the Department of the Treasury's Office of Foreign Assets Control (OFAC) issued General License 13F Authorizing Certain Administrative Transactions Prohibited by Directive 4 under Executive Order 14024...more
On July 20, 2023 the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) added nearly 120 individuals, entities, and vessels to the Specially Designated Nationals (“SDN”) List pursuant to Executive...more
On June 28, 2023, the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) and the UK’s Office of Financial Sanctions Implementation of His Majesty’s Treasury (“OFSI”), released a joint fact sheet on...more
On May 19, 2023, the U.S. Department of Commerce Bureau of Industry and Security (“BIS”) issued additional export control restrictions aimed at further degrading the Russian Federation’s capacity to wage its aggression...more
In conjunction with the G7 Summit in Japan, the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) introduced additional economic sanctions on May 19, 2023, with the aim of further limiting the...more
On May 5, 2023, the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) published General Licenses (“GL”) 8G related to the Russian Harmful Foreign Activities Sanctions Regulations, 31 CFR Part 587...more
On December 7, 2022, the United States, along with the EU and other G7 nations, imposed a price cap of $60 per barrel on crude oil of Russian Federation origin (“Russian oil”), effective December 5, 2022 (see our related...more
On April 12, 2023, the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) published four new General Licenses (“GL”) (GL 62, GL 63, GL 64, and GL 65), revoked GL 15, and issued FAQ 1122 related to the...more
4/18/2023
/ Blocked Person ,
Bureau of Industry and Security (BIS) ,
Economic Sanctions ,
Export Administration Regulations (EAR) ,
Export Controls ,
Foreign Policy ,
Foreign Relations ,
General Licenses ,
Office of Foreign Assets Control (OFAC) ,
Russia ,
SDN List
Russian “Exit Tax”. As of December 2022, the Russian Federation imposed new laws that could require U.S. persons to pay an “exit tax” prior to divesting assets located in the Russian Federation; any such payment could...more
On February 24, 2022, the U.S. Department of Commerce’s Bureau of Industry and Security (“BIS”) issued a series of new export controls related to restrictions on trade with Russia and Belarus. The Russia / Belarus final rule...more
On February 24, 2023, the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) released a new determination targeting the metals and mining sector of the Russian Federation economy under Executive Order...more
On February 8, 2023, the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) published FAQ 1113 related to the Russian Harmful Foreign Activities Sanctions Regulations, 31 CFR Part 587 (the...more
On February 3, 2023, the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) issued a determination (“Price Cap on Petroleum Products of Russian Federation Origin”) pursuant to section 1(a)(ii), (1)(b)...more
On January 26, 2023, the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) re-designated PMC Wagner (“Wagner Group”), a Russian private military company, as a significant transnational criminal...more
On January 17, 2023, the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) issued three Russia-related General Licenses (“GL”) 6C, GL 28B, and GL 54A, and amended four FAQs (FAQ 982, FAQ 1054,...more
Russia’s Response to Western Oil Price Cap and New OFAC Preliminary Guidance on Implementation of the Price Cap Policy for Petroleum Products of Russian Federation Origin...more
On December 15, 2022, the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) (1) designated several individuals and entities to the Specially Designated Nationals and Blocked Persons (“SDN”) List,...more
On December 2, 2022, the United States, along with other G7 nations, including the European Union and Australia, adopted a price cap of $60 per barrel on seaborne crude oil of Russian Federation origin. The cap prevents firms...more
GL 13. On November 21, 2022, the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) reissued General License (“GL”) 13C related to the Russian Harmful Foreign Activities Sanctions Regulations,...more