Effective as of 15 February 2025, the Ukrainian President has enacted the decision of the National Security and Defense Council concerning the introduction of a set of personal sanctions against certain businesspeople and politicians (“Decision on Sanctions”).[1] The sanctions are targeting Ukrainian oligarchs, particularly former cofounders of PrivatBank Ihor Kolomoisky and Hennadii Boholiubov, former owner of Finance and Credit Bank Kostiantyn Zhevago, former President and acting MP Petro Poroshenko and former pro-Russian politician Viktor Medvedchuk…
On 12 February 2025, the Swiss Federal Council announced the adoption of the remainder of EU’s 15th package of sanctions against Russia, which entered into force on 13 February 2025 (the official media release is available here). Designations introduced under the 15th EU sanctions package had already been adopted by Switzerland on 23 December 2024. These new listings included 54 individuals and 30 companies and organizations being subject to asset freezes and a ban on…
On 11 February 2025, we saw the first public multi-jurisdictional coordinated sanctions action under the Trump Administration when the United States, Australia, and the UK announced joint sanctions against alleged key members of a Russian cybercrime supply chain. This action was taken by the US Department of the Treasury’s Office of Foreign Assets Control (“OFAC”), Australia’s Department of Foreign Affairs and Trade, and the UK Foreign Commonwealth and Development Office (“UK FCDO”). See the US…
On February 6, 2025, the US State Department reversed the Biden Administration’s revocation of President Trump’s National Security Presidential Memorandum 5 of June 16, 2017 and recreated the Cuba Restricted List (“CRL” or “List”), which identifies entities and subentities that are controlled by, or acting on behalf of, the Cuban military, intelligence, or security services or personnel. The US State Department also added a Cuban remittance provider to the CRL, effective March 10, 2025. For…