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Sanctions Targeting Russia

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On 30 June 2022, Polish government issued a note outlining amendments to the Polish Act of 13 April 2022 on special measures relative to counteracting the support for the aggression against Ukraine and relative to national security protection (“Polish Sanctions Regulation”). See here for our previous blog on the Polish Sanctions Regulation. The main changes to be introduced are: a) the institution of a temporary administrator for entities targeted by Polish national sanctions (“sanctioned entities”),…

On June 27, 2022, in furtherance of discussions at the G7 Summit, Canada amended its sanctions measures with respect to Russia, Belarus and Ukraine; Russia Adding six Russian senior defence officials and 46 Russian defence-sector entities as designated persons under Schedule 1; Prohibiting any person in Canada and any Canadian outside of Canada from exporting, selling, supplying or shipping any good, wherever situated, or providing any technology, to Russia or to any person in Russia…

On June 27, 2022, President Biden and the other G7 leaders issued a statement on support for Ukraine (“G7 Statement”), in which they vowed to sustain and intensify their coordinated sanctions measures in response to Russia’s war of aggression. The corresponding White House Announcement outlines the actions the Biden Administration planned to take in coordination with the G7, including additional sanctions measures. The following day, the US Treasury Department’s Office of Foreign Assets Control (“OFAC”)…

The Japanese government introduced further sanctions against Russia and Belarus on 7 June 2022. These include: Designations of two Russian and one Belarussian bank The Japanese government designated 2 additional Russian banks (Credit Bank of Moscow and Russian Agricultural Bank (Rosselkhozbank)) and one Belarussian (Belinvestbank (Belarusian Bank for Development and Reconstruction). These banks are subject to the following sanctions: Restrictions on payments – A license is required to make a payment to the designated banks. Restrictions…