On 19 May 2026, the UK Government published the Russia (Sanctions) (EU Exit) (Amendment) Regulations 2026 (SI 2026/543) (the “Amendment Regulations”), introducing numerous amendments to the Russia (Sanctions) (EU Exit) Regulations 2019 (the “Regulations”). The Amendment Regulations introduce certain new trade prohibitions and expand existing controls across the Russia sanctions regime. The Amendment Regulations come into force on 20 May 2026 and, in short, include: Supplementing this, the Office of Trade Sanctions Implementation (“OTSI”) issued…
On May 1, 2023, the US Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) issued General License No. 42 (“GL 42”) under the Venezuela Sanctions Regulations (“VSR”), three new Venezuela-related Frequently Asked Questions (“FAQs”), and also amended one Venezuela-related FAQ. These developments occurred in the context of efforts by creditors to enforce judgments against Venezuela and appear to have been in response to a request from the Special Master for the US District…
On May 12, 2022, the US Treasury Department’s Office of Foreign Assets Control (“OFAC”) issued Syria General License No. 22 (“GL 22”), authorizing certain activities in particular sectors of the Syrian economy that are otherwise prohibited under the Syrian Sanctions Regulations (31 CFR Part 542, “SSR”) in specified regions of Syria not controlled by the Assad regime. According to the US Statement Department’s press release, GL 22 was issued in support of the Biden Administration’s…