Seher Budak (Sweden), Author at Global Sanctions and Export Controls Blog

EU adopts 21st Russia sanctions package

July 29, 2026 By Paul Amberg (Spain), Ben Smith (UK), Johanna Asplund (UK), Seher Budak (Sweden) and Maria Aristegui (Spain) 7 Mins Read

On 23 July 2026, the European Council adopted its 21st package of Russia sanctions as well as additional measures targeting Belarus. The package concentrates on sectors with the greatest impact on Russia’s war economy, including energy, shipping, gold, financial services (including crypto), trade, and the Russian military-industrial complex. Key elements include a full-year suspension of the oil price cap adjustment, a new tool allowing transaction bans on named refineries that process Russian crude (listing one…

More on Syria Sanctions Relaxation: US and EU

May 29, 2025 By Esmee Kooke (Netherlands), Seher Budak (Sweden), Sunny Mann (UK), Derk Christiaans (Netherlands) and Kerry B. Contini (US) 4 Mins Read

Since we published our blog post on the relaxation of the Syria sanctions over the weekend, there have been two more related developments this week: (1) US guidance on the Syria sanctions relaxed on Friday, May 23, and (2) the EU’s move to formally lift nearly all of its remaining sanctions on Syria. United States: Guidance on Syria Sanctions Relaxation On Wednesday, May 28, the Office of Foreign Assets Control (“OFAC”) in the US Treasury…

US, Canada, EU, and UK Sanction Individuals Linked to Venezuelan Government

January 21, 2025 By Paul Amberg (Spain), Julia Webster (Canada), Lise S. Test (US), Andrew Rose (UK), Sophie Armstrong (UK), Seher Budak (Sweden), Rob O'Brien (US), Jing Xu (Canada), David Eriksson (Sweden) and Tatiana Kalaji (UK) 2 Mins Read

On January 10, 2025, in a multilateral sanctions action, the US, Canada, EU, and UK sanctioned various Venezuelan individuals linked to the Venezuelan government and prominent state-owned entities. US Sanctions The US Treasury Department’s Office of Foreign Assets Control (“OFAC”) designated eight Venezuelan individuals as Specially Designated Nationals pursuant to Executive Order 13692, including the president of the Specially Designated National state-owned petroleum company, Petroleos de Venezuela, S.A., (PdVSA), the Venezuelan Ministry of Transportation and…

EU Adopts 15th Russia Sanctions Package and Designates Additional Parties Pursuant to Russian “Hybrid Threat” and Belarus Sanctions

December 17, 2024 By Olof Konig (Sweden), Sunny Mann (UK), Seher Budak (Sweden), Michael Amberg (UK) and Malik Mikel (UK) 6 Mins Read

On 16 December 2024, the EU introduced its 15th package of sanctions against Russia, including by amending Regulation (EU) 833/2014 and Regulation (EU) 269/2014. The EU also issued the first designations under its “hybrid threats” sanctions framework, which was announced in early October 2024. Finally, the EU designated individuals and entities pursuant to EU sanctions against Belarus (Regulation (EC) No 765/2006). This latest round of sanctions entered into force on 17 December 2024 and is…