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Sanctions Targets

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On April 29, 2022 the US Department of Treasury’s Office of Foreign Assets Control (“OFAC”) announced the publication of a Final Rule that reissued and renamed the Ukraine-/Russia-Related Sanctions Regulations (“Reissued Regulations”) and updates to related public guidance. Found at 31 C.F.R. Part 589, the Reissued Regulations took effect on May 2 and have been expanded to include a more comprehensive set of regulations, including additional interpretive and definitional guidance, general licenses, and other regulatory…

On 27 April, in line with its announcement from 13 April, the Swiss Federal Council imposed further sanctions against Russia and Belarus (see blogpost here). Through these latest revisions of both the Ordinance on Measures connected with the Situation in Ukraine (the “Ukraine Ordinance”) and the Ordinance on Measures against Belarus (the “Belarus Ordinance”), Switzerland has adopted the EU’s latest package of sanctions with a few exceptions (see blogpost here). The new measures entered into…

Poland introduced its own sanctions against Russia and Belarus effective 16 April 2022. These include: (i) prohibition of import and transit of coal originating from Russia and Belarus, and (ii) creation of Poland-specific list of designated parties subject to measures not covered by EU Regulations 765/2014 and 269/2014. New sanctions legislation Poland’s Act on special measures preventing support for the aggression against Ukraine and relative to national security protection was announced on 15 April 2022,…

The UK announced on 21 April 2022 that it will introduce import bans on silver, wood products and other high-end products from Russia including caviar. The UK also announced that it will increase tariffs by 35 percentage points on certain products from Russia and Belarus. The products which will face the additional 35 percent tariff (on top of any tariffs that are currently applicable) range from arms and ammunition, pharmaceutical products, rubber, textiles to luxury…