On 30 September 2024, the UK Government issued a notice stating that from 31 October 2024, the provision of intra-group services will no longer be a specific licensing ground available in relation to professional and business services provided by UK companies to their Russian subsidiaries. Licence applications submitted before 31 October 2024 will not be affected by the change. Under Regulation 54C of The Russia (Sanctions) (EU Exit) Regulations 2019 (âUK Russia Regulationsâ), it is prohibited…
On 5 September 2024, the UK amended the scope of its Russia sanctions relating to the provision of certain legal advisory services to non-UK persons, as contained in Regulations 54D and 60DB of The Russia (Sanctions) (EU Exit) Regulations 2019 (âUK Russia Regulationsâ), via The Russia (Sanctions) (EU Exit) (Amendment) (No. 4) Regulations 2024 (the âAmending Regulationâ). The Amending Regulation entered into force on 6 September 2024, in short (i) clarifying the knowledge a person must have…
On Saturday, April 20, 2024, after months of negotiations and many twists and turns, the US House of Representatives passed the 21st Century Peace through Strength Act (H.R. 8038). This bill, which is the fourth pillar of a broader foreign aid package to assist Israel, Ukraine, and the Indo-Pacific, contains numerous sanctions and trade-related national security measures. After each of the four foreign security bills were passed on Saturday, they were combined into one package…
On December 22, 2023, the Biden Administration issued a new Executive Order (âEOâ) âTaking Additional Steps with Respect to the Russian Federationâs Harmful Activitiesâ (the âDecember 22 EOâ) amending EO 14024 of April 15, 2021 (âBlocking Property With Respect To Specified Harmful Foreign Activities of the Government of the Russian Federationâ) and EO 14068 of March 11, 2022 (âProhibiting Certain Imports, Exports, and New Investment With Respect to Continued Russian Federation Aggressionâ). According to a…