On February 9, 2023, the United States and the United Kingdom designated seven Russian individuals that have been associated with the development or deployment of a range of ransomware strains which have targeted the UK and the US. This is the first time that the UK has made designations under its Cyber (Sanctions) (EU Exit) Regulations 2020. The US Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) issued this press release in tandem…
The UK has adopted The Russia (Sanctions) (EU Exit) (Amendment) (No. 17) Regulations 2022 . See here for explanatory memorandum accompanying this legislation. Updated guidance on Russia Sanctions has been published in order to reflect the changes introduced by the latest legislation. The new legislation introduces and expands on current trade and financial sanctions and comes into force on Friday, 16 December 2022. Trade sanctions Prohibits the direct and indirect provision of the following additional…
The UK has introduced a sanctions regime designed to target criminal actors, gangs and their financiers whose actions are causing instability in Haiti, pursuant to The Haiti (Sanctions) Regulations 2022, which enter into force on 28 December 2022. The restrictive measures consist of: financial sanctions measures through a targeted asset freeze on designated persons and prohibitions on making funds or economic resources available; trade sanctions, including restrictions on the trade in military goods and military…
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.…