1. New SDNs On Monday, 28 April, 2014, the Office of Foreign Assets Control (“OFAC”) in the US Treasury Department announced its fourth group of “Specially Designated Nationals” (“SDNs”) related to the crisis in Ukraine and added 17 entities and 7 individuals in Russia to the US SDN List pursuant to Executive Order 13661. “U.S. Persons” are now prohibited from dealing (directly or indirectly) with these SDNs and any entities 50% or more owned by…
On 16 April 2014, the Bureau of Industry and Security (“US BIS”) in the US Commerce Department formally added Chernomorneftegaz to the Entity List pursuant to the Export Administration Regulations (“EAR”). US BIS announced its intention to make this Entity List designation on 11 April, as reported in our previous blog post (http://www.bakermckenzie.com/sanctionsnews/blog.aspx?entry=1889). Chernomorneftegaz’s inclusion on the Entity List means that a US BIS licence will be required for the export, reexport or in-country transfer…
On Friday 11 April, 2014, the Office of Foreign Assets Control (“OFAC”) in the US Treasury Department announced its third group of “Specially Designated Nationals” (“SDNs”) related to the crisis in Ukraine and added the Crimea-based oil and gas company Chernomorneftegaz and seven individuals to the US SDN List pursuant to Executive Order 13660. “U.S. Persons” are now prohibited from dealing (directly or indirectly) with these SDNs and any entities 50% or more owned by…
Further to our post on 26 March concerning US BIS’ announcement that it had put on hold the issuance of licences for exports/reexports of items to Russia since 1 March 2014, the US DDTC has made a similar announcement on its main webpage. Until further notice, the US DDTC has put on hold the issuance of licences that would authorise the export of defence articles and defence services to Russia. This notice is available here:…