On Friday, the Commerce Department’s Bureau of Industry and Security (BIS) added 120 parties operating in the Russian and Belarusian aerospace, maritime, and defense sectors to the Entity List. BIS designated the parties for attempting to procure items subject to the Export Administration Regulations (EAR) for the Russian and Belarusian militaries and for their military
U.S. Sanctions Russian Chipmaker & Tech Companies; Expands Sanctions Authority
Today, the United States imposed sanctions on Russian technology companies and a network of companies involved in procuring goods for the Russian Intelligence Services. The Treasury Department also issued a determination authorizing the Office of Foreign Assets Control (OFAC) to impose sanctions on companies and individuals that it determines operate in the aerospace, electronics, or
Additional U.K. Sanctions Targeting Russian Industries, Banks, Elites; Belarusian Entities
Today, the United Kingdom expanded sanctions on Russia by imposing asset freeze restrictions on 59 Russian and six Belarusian actors. The measures target key strategic industries in Russia, and include large banks, defense companies, and Russian elites.
Of note, the following Russian banks and companies have been added to the U.K.’s consolidated asset freeze list:
New U.S. Sanctions on Russian Defense & Aerospace Companies; Anti-Evasion Initiative; Guidance on Gold
In coordination with G7 countries and the European Union, the United States imposed additional sanctions on Russia today, targeting Russian defense and aerospace companies, the Russian Duma, and the CEO of Sberbank, among others. The White House also announced that the United States, G7, and EU are launching an anti-evasion initiative to coordinate responses to
EU Bans Dealings in Russian Iron & Steel Products; Imposes Luxury Goods & Energy Investment Bans
Today, the European Union imposed another round of significant sanctions and trade controls on Russia in response to the crisis in Ukraine. In addition to new asset freeze sanctions, the EU implemented a series of new trade restrictions on dealings with the Russian economy, including an import ban on Russian iron and steel products, a
UK Sanctions Hundreds of Russians, Including Oligarchs & Elites
Today, the United Kingdom imposed sanctions on more than 350 Russian individuals and entities, including Russian oligarchs, officials, elites, and their families. Also targeted by the expanded UK asset freeze measures are Russian actors engaged in certain cyber activities and operations, including the proliferation of disinformation and propaganda. These measures bring the United Kingdom’s Russia-related
Summary of Sanctions Imposed on Russia This Week (March 11, 2022)
It has been almost three weeks since the U.S. and its allies began imposing serious new sanctions and export control restrictions on Russia and Belarus in response to Russia’s invasion of Ukraine. This post summarizes the state of affairs as of Friday, March 11, 2022.
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United Kingdom Expands Asset Freeze; Prominent Russian Figures Targeted
Today, the United Kingdom added seven Russian businessmen to its asset freeze list. Chief among the designations are Roman Abramovich, Igor Sechin, and Oleg Deripaska.
Mr. Abramovich is best known for being the owner of Chelsea Football Club, which plays in England’s Premier League. Mr. Sechin, who is already subject to U.S. and EU sanctions,
European Union Imposes Further Sanctions and Export Controls on Russia, Expands Sanctions on Belarus
On March 9, 2022, the European Union imposed new sanctions on Russian oligarchs, businesspeople and government officials; significantly expanded sanctions on Belarus; and imposed new maritime-related export controls on Russia.
Below is a summary of the new measures.
New Asset Freeze Sanctions
The EU imposed asset freezes on following 14 Russian oligarchs and prominent businesspeople:
U.S. Bans Russian Energy Imports; Investments in Russian Energy Sector
Today, the Biden Administration issued a new Executive Order (E.O.) banning imports of Russian-origin energy into the United States and prohibiting new investments in the Russian energy sector. Although the United States imports relatively little energy from Russia, the move is seen as an important measure to reduce Russia’s access to foreign currency. The investment