At the 2026 G7 Leaders’ Summit, Prime Minister Carney announced a further expansion of its sanctions regime under the Special Economic Measures (Russia) Regulations (Regulations), effective June 12, 2026. The measures form part of Canada’s continuing effort to constrain Russia’s military operations and to condemn recent attacks on Kyiv. The amendments list new individuals, entities and vessels in Russia’s shadow fleet and repeal obligations held by the Minister of Foreign Affairs in relation to delisting applications. Expansion…
On April 17, 2026, the US Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) issued Russia‑related General License No. 134B (“GL 134B”), extending the duration of General License No. 134A, which authorized certain transactions involving crude oil and petroleum products of Russian Federation origin that had already been loaded onto vessels. As with GL 134A, GL 134B authorizes transactions that are ordinarily incident and necessary to the sale, delivery, or offloading of Russian‑origin…
On April 14, 2026, the US Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) issued General License Nos. 128C and 130A (“GL 128C” and “GL 130A”, respectively), further extending prior authorizations relating to certain transactions involving certain subsidiaries of Public Joint‑Stock Company Oil Company Lukoil (“Lukoil”). As with earlier iterations, these general licenses permit limited, time‑bound transactions to proceed notwithstanding the designation of Lukoil and certain affiliates as Specially Designated Nationals (“SDNs”). We…
On 13 March 2026, the European Commission published a new set of Frequently Asked Questions (“FAQs”, accessible here) clarifying the scope and application of EU sanctions restrictions on the provision of payment services under Article 5b(2) of Council Regulation (EU) No 833/2014, as amended (the “EU Russia Sanctions”). Article 5b(2) of the EU Russia Sanctions prohibits the provision of certain payment services to Russian nationals and natural and legal persons, entities and bodies in Russia…