WorldSmart: The Extraordinary Sanctions Against Russia - What Happens Next?
In response to Russia’s invasion of Ukraine, the U.S. government has deployed a whole-of-government approach to impose sanctions and tighter export controls on Russia. This alert summarizes key economic sanctions imposed by...more
This update includes the U.S. Department of the Treasury’s Office of Foreign Assets Control’s (OFAC) recent actions regarding the Russian seaborne oil price cap policy aimed at maintaining the supply of Russian oil to the...more
Oil price cap - The oil price cap has been co-ordinated by the G7 in order to make EU, UK and US services (including (re)insurance) available to third country importers and exporters as long as the price paid for...more
On February 21, 2022, Russia formally recognized the purported independence of two regions in Eastern Ukraine, Donetsk and Luhansk. The next day it ordered Russian troops into the separatist-occupied territories, and the...more
Over the past few weeks, the Office of Foreign Assets Control (OFAC) of the US Department of the Treasury ramped up sanctions pressure against Russia with the announcement of a new ban on certain services in seaborne Russian...more
Over the past few weeks, the US Department of Treasury Office of Foreign Assets Control (OFAC) took various actions in response to Russia’s continued invasion in Ukraine: ..updated the Specially Designated Nationals and...more
Authored by our Global Sanctions Team On 3 June 2022, the EU adopted a new round of sanctions against Russia and Belarus, banning the purchase, import or transfer into the EU of crude oil and petroleum products originating in...more
The US continues to ramp up sanctions pressure on Russia, now emphasizing Russian efforts to evade US export controls and obligations of financial institutions to police Russian efforts at sanctions and export controls...more
Canada has imposed further sanctions and an investment ban on Russia due to its continuing invasion of Ukraine. These restrictions are in addition to those already imposed in the Special Economic Measures (Russia)...more
In response to the Russian Federation’s invasion of Ukraine in February 2022, the U.S., U.K., and EU have implemented sweeping coordinated economic sanctions and export control restrictions targeting key industries, entities,...more
In our previous alert, we discussed the U.S. implementation of significant sanctions and export controls on Russia which will severely impact business transactions with Russian entities. The U.S. and its allies continue to...more
As announced during his State of the Union, President Biden and U.S. Allies and partners, announced additional sanctions against Russia and Belarus. In recognition of the impact of the sanctions and export controls on the...more