The European Union has again amended its sanctions against Russia and Belarus by adopting further legal acts, which put additional compliance obligations on EU companies. In particular, businesses will now have to undertake...more
Following the adoption of its 14th sanctions package against Russia, the European Union ("EU") extended the scope of its sanctions against Belarus with a view to "mirroring several of the restrictive measures already in place...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
Recently, the US Department of the Treasury’s Office of Foreign Assets Control (OFAC) has taken additional actions against Russia in response to its continued invasion of Ukraine. Specifically, OFAC: ..Issued guidance...more
Since late February 2022, the United States (U.S.), the European Union (EU) and its member states, the United Kingdom (U.K.), and many others—including Japan, Australia, New Zealand, Taiwan and Canada—have imposed sweeping...more
Over the past few weeks, the US Department of the Treasury Office of Foreign Assets Control (OFAC) took additional actions in response to Russia’s continued invasion of Ukraine: ..Removed Kazakh subsidiary of Alfa Bank,...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
Authored by our Global Sanctions Team On 10 and 29 June 2022, Switzerland expanded existing sanctions and implemented new measures in response to Russia's ongoing military aggression in Ukraine. This new sanction set is in...more
The Week in Review delivers the impact and analysis for the public, private, and non-profit sectors from our regular reporting of the evolving global sanctions campaign against Russia. We have reviewed the recent...more
On 3 June 2022, the European Council finally adopted the sixth set of economic and individual sanctions targeting Russia and Belarus. The new measures, which came after weeks of member state negotiations, focus on oil imports...more
New announcements and rules expand the scope of existing sanctions and export controls on Russia and Belarus. This Client Alert summarises the latest sanctions and trade restrictions that have been imposed, or are under...more
...Since the start of the invasion of Ukraine by Russian forces on February 24, the United States (U.S.), United Kingdom (UK), and the European Union (EU) have led a global sanctions campaign against Russia that has been...more
On April 13 and 27, 2022, Switzerland adopted new measures against Russia further expanding its sanctions. These measures are in line with the EU's fifth wave of sanctions adopted on April 8, 2022 with the notable exception...more
The Week in Review delivers the impact and analysis for the public, private, and non-profit sectors from our regular reporting of the evolving global sanctions campaign against Russia. This week, we reviewed the recent...more
On 8 April 2022, the EU adopted a new round of sanctions against Russia and Belarus. The EU has added 216 individuals and 18 entities to the EU asset freeze. The EU prohibits imports of coal, solid fossil fuels and a range of...more
The Week in Review delivers the impact and analysis for the public, private, and non-profit sectors from our daily reporting of the evolving global sanctions campaign against Russia. This week, we reviewed the recent...more
New rules significantly expand the scope of existing sanctions and export controls on Russia. This Client Alert is published in the context of ongoing developments and should be read in conjunction with the Latham &...more
EU introduces a fifth package of measures - New asset freezes - On 8 April 2022, the EU published a fifth round of measures against Russia and Belarus. Spread across four regulations, the new measures include additional...more
During the past week, the US continued to strengthen its sanctions against Russia as Russia continued its invasion of Ukraine. ..BIS issued a final rule clarifying which luxury goods are subject to the ban on exports to...more
Since the publication of our 9 March 2022 client alert, the US, UK and EU and other allied nations have imposed additional sanctions and export controls on key elements of the Russian economy. This client alert summarizes the...more
Following the invasion of Ukraine by Russia, the UK, EU and US have all responded by announcing significant sanctions in respect of Russia and Belarus. The sanctions landscape has been changing at a fast pace and further...more
On March 16, 2022, Switzerland extended the asset freeze and entry/transit restrictions to more than 200 Russian individuals and companies. It also adopted new sanctions against Belarus and reinforced the existing ones. These...more
The Week in Review delivers the impact and analysis for the public, private, and non-profit sectors from our daily reporting of the evolving global sanctions campaign against Russia. ...more
Western sanctions against Russia have continued to broaden substantially into new areas of trade, especially in the energy sector. Policymakers in Washington DC, Brussels, London and other allied capitals also continue to...more
On 9 March, the EU added various new financial restrictions in relation to Belarus, including a SWIFT ban on three Belarusian banks. In relation to Russia, the EU added trade restrictions on maritime navigation equipment and...more