On July 30, 2015, the US Treasury Department’s Office of Foreign Assets Control (“OFAC”) designated certain individuals and entities on the Specially Designated Nationals and Blocked Persons List (“SDN List”) and identified certain entities on the Sectoral Sanctions Identifications List (“SSI List”) pursuant to various Russia sanctions measures that have been imposed since last year. A complete list of parties that are newly designated on the SDN List and the SSI List is available here. …
On 26 January 2015, leaders from all 28 EU countries expressed concern about the “deteriorating security and humanitarian situation in eastern Ukraine” and condemned the killing of civilians during the “indiscriminate shelling” of Ukrainian city Mariupol on 24 January 2015. The European heads of state called on the EU to “assess the situation” and to consider “further restrictive measures.” Foreign ministers will meet at an emergency meeting on Thursday 29 January to discuss further punitive…
On October 6, 2014, the U.S. Treasury Department’s Office of Foreign Assets Control (“OFAC”) issued General License No. 3 under Executive Order 13662 of March 20, 2014. General License No. 3 authorizes all transactions with DenizBank S.A., which are otherwise prohibited under Directive 1 of Executive Order 13662. DenizBank is a private Turkish bank that is owned by Sberbank, a Russian bank that was sanctioned under Directive 1 on September 12, 2014. As such, U.S. Persons are…
As anticipated in our earlier blog entry, on September 17, 2014, the U.S. Department of Commerce’s Bureau of Industry and Security (“BIS”) implemented new restrictions on the export, reexport and transfer (including in-country transfer) of items subject to the Export Administration Regulations (“EAR”) to certain major Russian energy and defense sector companies by adding those companies to the Entity List. BIS also has amended the EAR to impose licensing requirements on the export, reexport, and…