Against the background of recent European Union (EU) sanctions targeting Russian airline Dobrolet, this note provides a general overview of relevant issues – especially in the context of the aircraft sector.
On August 13, 2014, the US Treasury Department’s Office of Foreign Assets Control (OFAC) issued revised guidance with respect to the “50% Rule,” which established that an entity owned 50% or more, directly or indirectly, by a...more
On August 1, 2014, the Bureau of Industry and Security (BIS) announced further export restrictions targeting Russia generally and the Russian oil and gas sector in particular, effective August 6, 2014. This action implements...more
The EU has adopted and published targeted sanctions against Russia covering banks, the oil sector and arms in response to the situation in Ukraine. The new sanctions include an EU ban on purchase or sale (and related...more
On July 29, 2014, the United States expanded sectoral sanctions, targeting the Russian financial, defense and energy sectors in response to the ongoing unrest in Ukraine. The new sanctions include the addition of three...more
This alert resumes three changes to EU sanctions adopted over the past week. This week is likely to be equally busy as further sanctions on Ukraine and Russia are expected imminently.
First, and most important, the...more
On July 16, 2014, the United States issued new sanctions targeting the Russian financial and energy sectors in response to the ongoing unrest in Ukraine. The new sectoral sanctions target four Russian companies by placing...more
The EU has introduced new sanctions measures, namely the following:
• The addition of 11 ‘rebel’ names to the Ukraine asset freeze list; and
• The introduction of an asset freeze in relation to South Sudan,...more
The EU Council on 23 June 2014 took several sanctions-related actions,1 all effective on 24 or 25 June 2014, including:
• the introduction of an EU import ban for products from Crimea and Sevastopol (and related...more
On June 20, 2014, the US Office of Foreign Assets Control (“OFAC”) issued further designations under Executive Order 13660 (“EO 13660”). EO 13660, which was signed on March 6, 2014, authorizes the United States to impose...more
On 12 May 2014, the EU Council broadened the scope of EU sanctions in response to the situation in Ukraine. The legal basis for EU sanctions was broadened notably to cover obstruction of the work of international...more
Further Sanctions Designations:
On April 28, 2014, the US Office of Foreign Assets Control (“OFAC”) issued further designations under Executive Order 13661 (“EO 13661”). EO 13661, which was signed on March 16, 2014,...more
In response to the most recent developments in the Crimea crisis, the EU Council decided on 28 April 2014 to add another 15 individuals to the EU’s asset freeze list and travel ban. The names have been published in Council...more
In an attempt to strengthen European Union (EU) sanctions targeting misappropriation of Ukrainian state funds, the EU has added another four names to the existing list of individuals subject to an asset freeze. These...more
As a further response to recent developments in Crimea, the EU today added another 12 names to the existing list of individuals in Russia and Crimea subject to a visa ban and asset freeze. These restrictions were published in...more
In response to the Crimea crisis, the EU Council decided to impose sanctions against individuals in Russia and the Crimea in the form of an asset freeze targeting persons responsible for actions which threaten the...more
I. Introduction -
The EU has renewed its sanctions against Syria until 1 June 2014, with the exception of the arms embargo.
For Belarus, the Council has decided to delist three parties from the asset freeze...more
I. Introduction -
The EU has updated its sanctions measures against Burma/Myanmar, Syria, North Korea and Libya.
For Burma/Myanmar, the Council has decided to lift all economic sanctions, while keeping the...more
I. Introduction -
The EU has updated its sanctions measures against Syria, North Korea and Zimbabwe.
For Syria, the Council has renewed its sanctions for a further three months, while introducing certain...more