News & Analysis as of

Australia Office of Foreign Assets Control (OFAC) Russia

Braumiller Law Group, PLLC

Braumiller-Law-Group - June 2024 Newletter

Recently, President Biden signed a foreign military support bill (H.R. 815) into law, which also encompassed the 21st Century Peace Through Strength Act (the Act), a legislative proposal introduced in the House containing...more

Dechert LLP

Multiple Governments Impose Joint Sanctions on Russia

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On the second anniversary of the start of the war in Ukraine and in response to the death of activist Aleksey Navalny in a Russian prison, the United States, European Union, and United Kingdom, along with Australia and...more

Venable LLP

New U.S. Sanctions Target Russia's Industrial Base, Additional Financial Institutions, and Technology Suppliers

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Since the outset of the Russian aggression in Ukraine, the Biden administration has issued incremental sanctions targeting various sectors of the Russian economy, aimed at curbing Russia's ability to wage war against Ukraine....more

Holland & Knight LLP

OFAC Updates U.S. Oil Price Cap Policy Against Russia

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As an update to an earlier Holland & Knight alert on the same topic, the U.S. Department of the Treasury Office of Foreign Asset Control (OFAC) has published another determination pursuant to Executive Order 14071 expanding...more

Seward & Kissel LLP

Economic Sanctions and the Russian Oil Price Cap Policy

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Background - As the Russia-Ukraine war approaches its one-year anniversary with no end in sight, U.S., EU and UK authorities, among other nations, continue to exert calculated but sustained pressure on the Russian...more

K2 Integrity

Implementation of the Russian Oil Price Cap and Key Compliance Considerations

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As the Russian invasion of Ukraine continues, so too does Russia’s isolation from the West. Member nations of the Group of Seven (G7)—the United States (U.S.), Canada, France, Germany, Italy, Japan, and the United Kingdom...more

The Volkov Law Group

United States and Allies Set Price Cap on Russian Oil — $60 Per Barrel (Part I of IV)

The Volkov Law Group on

The G-7, the European Union and Australia officially announced a price cap on Russian oil, which includes service and shipping restrictions on oil originating from the Russian Federation and trading above $60 per barrel. ...more

WilmerHale

Global Jurisdictions Implement Russian Oil Ban and Price Cap Policy

WilmerHale on

A ban on services related to the maritime transport of Russian-origin crude oil sold above a pre-determined price cap of $60 per barrel began on December 5, 2022, with a similar price cap ban related to other Russian-origin...more

Orrick, Herrington & Sutcliffe LLP

U.S., EU, and UK Price Cap Sanctions Prohibiting Services for Maritime Transport of Russian Oil

Effective December 5, 2022, a coalition of G7 countries, Australia, and the European Union have generally forbidden service providers to provide certain services relating to the maritime transport of Russia-origin crude oil...more

Goodwin

U.S. Government Authorizes Transactions Related to Patent Protection in Russia

Goodwin on

On May 5, 2022, the Office of Foreign Assets Control of the U.S. Department of the Treasury issued General License No. 31 (“GL31”), which authorizes transactions in connection with the filing and prosecution of patent...more

Foley & Lardner LLP

New U.S. Sanctions on Russia and Belarus in Response to the Ukraine Invasion Impose New Compliance Responsibilities

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Beginning on February 24, 2022, the U.S. Department of the Treasury Office of Foreign Assets Control (OFAC) and the U.S. Department of State imposed several successive waves of economic sanctions on Russia following the...more

Alston & Bird

The United States and Its Allies Impose Unprecedented Sweeping “Second Tranche” of Economic Sanctions and Export Controls in...

Alston & Bird on

The United States and its allies respond to Russia’s invasion of Ukraine with even tougher sanctions against Russia, its leaders, and its leading businesses. Our International Trade & Regulatory Group breaks down the...more

White & Case LLP

US and EU intensify sanctions in response to Russian actions in Ukraine; Australia, Canada, Japan announce sanctions

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On 22 February 2022, the United States announced new sanctions on Russia, blocking the property of two major Russian banks, dozens of their subsidiaries, and five individuals, and imposing additional restrictions on dealings...more

Dechert LLP

U.S., EU, Canada and Australia Take Coordinated Action Targeting Russia as Congress Considers Further Sanctions

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Last week, the U.S. Treasury Department’s Office of Foreign Assets Control (“OFAC”), the EU Council, and Canada imposed further sanctions targeting Russian individuals and entities allegedly involved in the escalation of...more

Dorsey & Whitney LLP

US CHINA TRADE WAR JULY 2015 TPA, TPP, TRADE POLICY, TRADE AND CUSTOMS

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Because of the substantial activity in May, June and July with the passage of Trade Promotion Authority (“TPA”) and the ongoing Trans Pacific Partnership (“TPP”) negotiations, this blog post is being split into two parts. ...more

K&L Gates LLP

Sanctions Relating to Russia Imposed by the U.S., EU, Australia and Japan - A Snapshot of Where We Are Now

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Since early March 2014, a number of countries have imposed various types of sanctions against Russia and certain persons in Ukraine in connection with events in Ukraine. We have issued a series of updates covering, in...more

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