Category: z-excludeALL

  Following weeks of negotiations, the European Council has agreed on the sixth package of Russia sanctions. Over the course of the European Council’s “special meeting”, held on the 30 and 31 May 2022, EU leaders agreed to ban most Russian oil imports, including crude oil and petroleum products. On the 2 and 3 June 2022, the legal acts were uploaded to the Official journal (see below).  The main elements of the package include: Oil The EU is prohibiting the…

  On 19 May 2022, the UK government announced new Russia sanctions, targeting Russian airlines. The measures are said to prevent Russian airlines from selling their unused landing slots at UK airports, said to be worth an estimated £50 million. The sanctioned airlines are:  •    Aeroflot; •    Ural Airlines; and  •    Rossiya Airlines. The government press release can be found here: UK targets Russian airlines with new sanctions – GOV.UK (www.gov.uk) https://www.clydeco.com/en/insights/2022/05/uk-announces-new-russia-sanctions-2

  On 13 May 2022, the UK government announced new Russia sanctions, targeting 12 individuals said to be funding Vladimir Putin’s lifestyle. The measures are said to reflect the difficulties of sanctioning a President whose official assets are comparatively “modest”, including “a small flat in St Petersburg, 2 Soviet-era cars from the 1950s, a trailer, and a small garage”. Those sanctioned include: Alina Kabaeva, a retired Olympic gymnast and Chair of the Board of the National Media Group; Anna Zatseplina,…

  On the 4th May 2022, the UK government announced further sanctions, restricting Russia’s access to the UK services industry. Under the new sanctions, Russia is barred from accessing the UK’s management consulting, accounting and PR services, which represent 10% of Russian imports in these sectors. The UK government has also announced 63 new sanctions aimed at individuals and entities furthering the Russian narrative on the invasion of Ukraine.  Those sanctioned include: Evgeny Poddubny, a war correspondent for the All-Russia…

  On April 6, 2022, the US imposed full blocking sanctions on Sberbank, Russia’s largest state-owned bank, by designating Sberbank and 42 of its subsidiaries as Specially Designated Nationals (SDNs).  According to the US Treasury Department, Sberbank holds approximately one-third of all bank assets in Russia. Also on April 6, 2022, the US imposed full blocking sanctions on Alfa-Bank, Russia’s largest private bank.  Alfa -Bank, six of its subsidiaries, and five 5 vessels owned by an Alfa-Bank subsidiary have also…

  On March 31, 2022, the US expanded the focus of US-Russia related sanctions to include the aerospace, electronics and marine sectors of the Russian economy. Since the onset of the Russian-Ukraine conflict, the US has designated over 700 individuals and entities (persons) as Specially Designated Nationals (SDNs). As the assets of such SDNs – and entities they owned 50% or more – that are in the US or within the possession or control of US persons are blocked, such…

Key takeaways Russian and Belarusian individuals and entities are subject to extensive asset freezes and travel bans under Australian law. The export of alumina, aluminium ores, and aluminium hydroxide to Russia is banned Australian businesses with ties to Russian energy or telecommunication industries need to assess their exposure to these sectors as specific sectoral sanctions will apply from 28 March 2022. Bans on the import of oil and other energy products from Russia will apply from 25 April 2022 Australian…

  On 24 March 2022, the UK Government announced 65 new Russian sanctions, targeted at strategic industries (including defence and transport), banks and business elites. The new sanctions, particularly those targeted at CEO’s and business leaders, represent a shift in the UK Government’s approach, which previously focussed sanctions activity around financial institutions and oligarchs. Those subject to the sanctions will have their UK assets frozen and no UK citizen or company will be able to do business with them. Individuals…

The UK Government has today (11 March 2022) announced sanctions against 386 members of the Russian parliament who voted to recognise two rebel-held regions in Eastern Ukraine Luhansk and Donetsk, as independent. The announcement means that 400 of the 450 members of Russia’s Duma, are now subject to British sanctions. The sanctions include asset freezes, UK travel bans and a prohibition on conducting business in the UK. UK Foreign Secretary, Liz Truss, explained that the sanctions were intended to target…

On 8 March 2022, the UK introduced new sanctions preventing Russian companies in the aviation and/or space industries from accessing the UK insurance and reinsurance market directly or indirectly. Initially announced on 3 March 2022, the measures seek to “further tighten the growing economic pressure on Russia” and to ensure that the UK is “in line with sanctions imposed by [its] allies.” The New Aviation Insurance Restrictions The new reg 29A of the Russia (Sanctions) (EU Exit) Regulations 2019 prohibits…