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Sanctions Targeting Crimea

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In an 18 March 2021 statement released by the German Foreign Ministry, the Group of Seven (G7) nations have announced that they remain fully committed to the implementation of sanctions on Russia over the annexation of the Crimean Peninsula. The group’s Foreign Ministers also reaffirmed their unwavering support for and commitment to the independence, sovereignty and territorial integrity of Ukraine, and denounced Russia’s alleged occupation. See the full statement accessible here for further details.

On 19 February 2021, Ukraine imposed[1] personal sanctions against a number of companies and individuals doing business in the Crimea and on the occupied territories of Donetsk and Luhansk regions (“Temporary Occupied Territories”) and suspected of terrorism financing, as well as on certain Russian-owned businesses. The sanctions were imposed against: Trading House Donskiye Ugli LLC, which allegedly sold coal produced on the Temporary Occupied Territories to the Russian FederationNovoshakhtinsky Refinery Plant JSC for allegedly selling…

On 28 January 2020, the European Council added seven persons to the list of those subject to restrictive measures (asset freezes and travel bans) over actions ‘undermining or threatening the territorial integrity, sovereignty and independence of Ukraine’ (EU Press Release here). The new designations arise as a result of the organisation of Russian local elections on 8 September 2019 in the illegally annexed Autonomous Republic of Crimea and the City of Sevastopol in Ukraine. The…

Extension of General Licenses

On November 9, 2018, the US Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) temporarily extended the expiration dates of four general licenses related to EN+ Group PLC (“EN+”), United Company RUSAL PLC (“RUSAL”), and GAZ Group (“GAZ”) from December 12, 2018 to January 7, 2019.  Please see our blog posts on the original designation of these companies and previous extensions of these general licenses here and here.  The Treasury Department press release indicates that EN+, RUSAL, and GAZ are proposing substantial corporate governance changes that could potentially result in significant changes in control and ultimately lead to these entities’ removal from the Specially Designated Nationals and Blocked Persons List (“SDN List”).