-
Jan 14, 2025 | 
sanctionsnews.bakermckenzie.com | Paul Amberg |Ben Smith |Lise S. Test |Sophie Armstrong
On 10 January 2025, the US Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) and the UK’s Office of Financial Sanctions Implementation (“OFSI”) announced the designations of two major Russian oil companies, PJSC Surgutneftegas and Gazprom Neft. The US and the UK have introduced new general licenses to permit limited activity relating to these entities, detailed further below.
-
Jan 10, 2025 | 
sanctionsnews.bakermckenzie.com | Ben Smith |Andrew Rose |Tatiana Kalaji |Sophie Armstrong
On 8 January 2025, the UK Government announced the forthcoming launch of a new sanctions regime targeting irregular migration and organised immigration crime, expected to come into force in 2025. The UK Government explained, in an 8 January press release, that this new sanctions regime is designed to target organised immigration networks operated and utilised by people smugglers, with the goal of deterring smugglers and stemming their financial flows at their source.
-
Nov 26, 2024 | 
sanctionsnews.bakermckenzie.com | Kerry Contini |Ben Smith |Kelvin Hong |Tatiana Kalaji
In October 2024, the United States Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) and the United Kingdom’s Office of Financial Sanctions Implementation (“OFSI”) celebrated the second anniversary of their Enhanced Partnership. This collaboration, initiated in response to the increasingly complex geopolitical landscape, aims to bolster the effectiveness of sanctions as a global tool for national security.
-
Oct 7, 2024 | 
sanctionsnews.bakermckenzie.com | Ben Smith |Julian Godfray |Emily Thomson
On 30 September 2024, the UK Government issued a notice stating that from 31 October 2024, the provision of intra-group services will no longer be a specific licensing ground available in relation to professional and business services provided by UK companies to their Russian subsidiaries. Licence applications submitted before 31 October 2024 will not be affected by the change.
-
Sep 16, 2024 | 
sanctionsnews.bakermckenzie.com | Julian Godfray |Ben Smith |Paul Amberg
On 10 and 11 September 2024, the US, UK and France and Germany took coordinated action in response to Iran’s support for Russia’s war effort and, in particular, the supply of ballistic missiles by Iran to Russia for use in Ukraine. The measures announced include restrictions on Iran’s national airline, Iran Air, travel bans and asset freezes on Iranian individuals and organisations involved in ballistic missile and drone supply chains, and new Russian shipping sector sanctions.
-
Sep 16, 2024 | 
lexology.com | Julian Godfray |Ben Smith |Paul Amberg
On 10 and 11 September 2024, the US, UK and France and Germany took coordinated action in response to Iran’s support for Russia’s war effort and, in particular, the supply of ballistic missiles by Iran to Russia for use in Ukraine. The measures announced include restrictions on Iran’s national airline, Iran Air, travel bans and asset freezes on Iranian individuals and organisations involved in ballistic missile and drone supply chains, and new Russian shipping sector sanctions.
-
Sep 9, 2024 | 
sanctionsnews.bakermckenzie.com | Ben Smith |Julian Godfray |Andrew Rose |Emily Thomson
On 5 September 2024, the UK amended the scope of its Russia sanctions relating to the provision of certain legal advisory services to non-UK persons, as contained in Regulations 54D and 60DB of The Russia (Sanctions) (EU Exit) Regulations 2019 (“UK Russia Regulations”), via The Russia (Sanctions) (EU Exit) (Amendment) (No. 4) Regulations 2024 (the “Amending Regulation”).
-
Aug 12, 2024 | 
sanctionsnews.bakermckenzie.com | Ben Smith |Tristan J. Grimmer
The Middle East is an increasingly important jurisdiction for Western governments from a Russia sanctions foreign policy perspective, as there is a perception that increased trade flows between the Middle East and Russia means that Western sanctions are effectively being circumvented.
-
Aug 12, 2024 | 
lexology.com | Ben Smith |Tristan J. Grimmer
Click here to watch the video The Middle East is an increasingly important jurisdiction for Western governments from a Russia sanctions foreign policy perspective, as there is a perception that increased trade flows between the Middle East and Russia means that Western sanctions are effectively being circumvented.
-
Jul 8, 2024 | 
sanctionsnews.bakermckenzie.com | Ben Smith |Emily Thomson
On 29 June 2024, the EU adopted a new Belarus sanctions package by amending Council Regulation (EU) 765/2006 (the “EU Belarus Sanctions“), effective from 1 July 2024. The amending regulation can be found here. The new package increases the alignment of the EU Belarus Sanctions with the EU’s sanctions against Russia (including those contained in Regulation (EU) 833/2014 (the “EU Russia Sanctions“), as recently updated), in order to address the risk of circumvention.
