At the 2026 G7 Leaders’ Summit, Prime Minister Carney announced a further expansion of its sanctions regime under the Special Economic Measures (Russia) Regulations (Regulations), effective June 12, 2026. The measures form part of Canada’s continuing effort to constrain Russia’s military operations and to condemn recent attacks on Kyiv. The amendments list new individuals, entities and vessels in Russia’s shadow fleet and repeal obligations held by the Minister of Foreign Affairs in relation to delisting applications. Expansion…
On 16 June 2026, the UK announced a new package of sanctions under its Russian sanctions regime. The package targets Russia’s shadow fleet, financial networks, military procurement channels, and broader support infrastructure. In total, 70 individuals and entities have been designated under the new package. The sections below summarise the key elements of the package. New sanctions targeting Russia’s shadow fleet and maritime evasion A central focus of the new measures is Russia’s “shadow fleet”,…
On 28 May 2026, the UK Financial Conduct Authority (“FCA”) published a detailed report outlining steps that financial institutions take to comply with sanctions requirements, including examples of good and poor practice. The report addresses both financial and trade sanctions measures, with financial institutions managing risks arising from their own activities and those of their customers. The report follows the FCA’s engagement with over 150 FCA-supervised firms since February 2022, and builds upon the FCA’s…
Judgment 4A_537/2025 of 28 April 2026 In its recent judgment 4A_537/2025 of 28 April 2026, the Swiss Federal Supreme Court upheld the judgment of the Commercial Court of the Canton of Zurich of 17 September 2025 (HG230210-O) and provided important guidance on the interpretation of Swiss sanctions laws – specifically on the asset freeze and reporting obligations imposed on financial institutions holding or managing funds. The Swiss Federal Supreme Court clarified, first, the evidentiary threshold…