On December 3, 2022, G7 members formally set the highly anticipated price cap on Russian oil at 60 USD per barrel. This price cap applies to crude oil, petroleum oils, and oils obtained from bituminous minerals which originate in or are exported from Russia. Below we summarize (1) some of the key aspects of the G7’s price cap, and (2) the measures taken to implement the price cap by the EU,US, UK, Japan and Canada.…
The Japanese government introduced further sanctions against Russia on 26 September 2022. These include: A ban on exporting products of Japanese origin to 20 designated entities and one individual of the Russian Federation. The ban came into force on the 3rd of October.A ban on exporting to Russia products of Japanese origin that can be used for the production of chemical weapons etc. The ban came into force on the 7th of October. The list…
The Japanese government introduced further sanctions against Russia and Belarus on 7 October 2022. These include: Designations of 58 Russian individuals, 9 Russian entities and 23 individuals who are considered to have been directly responsible for the unilateral annexation of Donetsk, Luhansk, Kherson and Zaporizhzhia These individuals and entities are subject to the following sanctions: Restrictions on payments – A license is required to make a payment to the designated banks. Restrictions on capital transactions – A…
The Japanese government introduced further sanctions against Russia and Belarus on 5 July 2022. These include: Designations of additional Russian individuals and entities The Japanese government designated an additional 57 individuals and 6 entities related to the Russian Federation and 5 individuals who were judged to be directly related with the destabilization of the eastern part of Ukraine and subjected them to the following sanctions: Restrictions on payments – A license is required to make…