On December 5, 2023 and December 6, 2023, respectively, the US and UK Governments announced new sanctions and export control measures targeting Russia focused on persons and entities in third countries supporting Russia’s military and defense industrial base and its war in Ukraine. US Sanctions and Export Control Updates The US Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) announced sanctions targeting a network led by Belgium-based individual, Hans De Geetere, as well…
On June 28, 2023, the US Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) and the Office of Financial Sanctions Implementation of the HM Treasury (“OFSI”) jointly issued a Humanitarian Assistance and Food Security Fact Sheet (the “Fact Sheet”) to provide additional clarity on US and UK Russia-related sanctions in the context of humanitarian assistance and the export to Russia of agricultural commodities, medicines, and medical devices. The Fact Sheet provides US and…
The G7 announced the creation of a new Enforcement Coordination Mechanism “to bolster compliance and enforcement of our measures and deny Russia the benefit of G7 economies” on the one-year anniversary of Russia’s invasion of Ukraine. As set out in our introduction to the blog series, our sanctions experts in G7 offices will respond to a series of questions relating to sanctions enforcement and the potential impact of the Enforcement Coordination Mechanism. Following our…