Sanctions/Export Highlights [As of May 26, 2022]
Russia Sanctions: The EU and UK each made several amendments regarding previously-designated individuals and entities. The amendments included corrections to names and dates of birth. General Licenses: The U.S. made two announcements related to general licenses (“GLs”). The U.S. announced that it will not renew GL 9C. The specific provisions that expired are: (a)(1) –...
Small Businesses Don’t Recognize Risk of Cyber-Attack Despite Repeated Warnings
CNBC surveys over 2,000 small businesses each quarter to get their thoughts on the overall business environment and their small business’ health. According to the latest CNBC/SurveyMonkey Small Business Survey, despite repeated warnings by the Cybersecurity and Infrastructure Security Agency and the FBI that U.S.-based businesses are at an increased risk of a cyber-attack following...
Sanctions evasion to become an EU crime under Commission’s proposal
This week, the European Commission is reportedly expected to present a legal proposal to make the evasion of sanctions an EU crime. This step will equip EU countries with a legal tool to confiscate frozen assets as part of the measures taken against Russia. It is estimated that to date around €30 billion in assets...
Three Chabad Rabbis Are On Russia’s List Of Those Banned From Travel To Russia
As reported by Axios, Russia last Saturday released a list of 963 Americans who are banned from traveling to Russia in retaliation for American sanctions against Russia for its invasion of Ukraine. JTA reports that included in the list are three rabbis who are leaders of Agudas Chassidei Chabad which has been attempting for years to...
Regulation Around the World – Beyond Sanctions
What have the financial services regulators been doing following the sanctions imposed on Russia? In the latest instalment of our Regulation Around the World series we cover some of the regulatory alerts that financial services regulators have issued in key jurisdictions. Our global updater focussing on the regulatory alerts is accompanied by further analysis in our...
Ministry of Industry and Trade approves list of goods for importation to Russia without right holder’s consent
Ministry of Industry and Trade Order No. 1532 of April 19, 2022, which approved a list of goods and groups of goods for which parallel import to Russia is authorized (the List), entered into effect on May 7, 2022. Please see full Publication below for more information.
New May 2022 Russian Counter-Sanctions: Key Points
On 3 and 4 May 2022, the Russian President adopted two key edicts. The edicts clarify the application of certain provisions from prior presidential edicts (Nos. 81 and 95) and introduce new counter-measures against so-called unfriendly states... Please see full Publication below for more information.
Sanctions/Export Highlights [As of May 19, 2022]
Russia Sanctions: This week the UK designated 12 individuals and three Russian airlines, JSC Rossiya Airlines, JSC Ural Airlines, and PJSC Aeroflot. The individuals include: (i) the chair of the board of directors of Russia’s National Media Group; (ii) a member of the board of directors of JSC SOGAZ (an EU- and UK-designated entity); (iii)...
U.S. Sanctions On Russia May Lead To Chabad Recovering Assets In Suit Over Return Of Jewish Library Collection
As previously reported, in 2013 the D.C. federal district court held the Russian government and three of its agencies in civil contempt for not complying with a 2010 default judgement ordering it to return two expropriated collections of valuable Jewish religious books and manuscripts to Chasidei Chabad of United States. Despite objections by the United...
- The Russian President Has Introduced Sanctions Against Persons From Unfriendly States