Kelley Drye & Warren LLP (LexBlog Russia)

61 results for Kelley Drye & Warren LLP (LexBlog Russia)

  • U.S. and EU Regulators Provide Insights on Sanctions and Export Evasion Risks

    On September 11, 2023, the Financial Crimes Enforcement Network (FinCEN) issued a Financial Trend Analysis detailing trends in suspected evasion of export controls on Russia. FinCEN’s analysis is informed by reports provided by financial institutions under the Bank Secrecy Act (BSA), such as Suspicious Transaction Reports. The information is helpful for identifying particular industries and...

  • European Union Adopts 11th Round of Sanctions Against Russia

    On June 23, 2023, the EU adopted its latest round of Russia sanctions. The new regulations have a focus on combatting circumvention and evasion, following suit with similar measures adopted by the United States last month. The EU added 87 new entities to its export controls covering dual-use goods and technology, as well as goods...

  • Anniversary Round of U.S. Sanctions, Export Controls Impose and Enhance Restrictions Against Financial and Material Support for Russia’s War Efforts

    Last Friday, on the anniversary of the Ukraine invasion, the U.S. Treasury Department’s Office of Foreign Assets Control (“OFAC”) took significant action by imposing sanctions against the Russian economy, targeting Russia’s financial services sector, sanctions evasion networks, military supply chains, and metals and mining sector.  The U.S. Department of Commerce’s Bureau of Industry and Security.

  • European Union Adopts Eighth Package of Sanctions Against Russia

    Yesterday, the European Union implemented its eighth round of sanctions on Russia in response to Russia’s claimed annexation of Ukrainian territory.  This latest package includes expanded import and export restrictions, an initial implementation of an EU price cap on the transport of Russian seaborne oil, an expansion of restrictions on non-government controlled regions of Ukraine,...

  • U.S. Imposes New Sanctions on Russia in Response to Claimed Annexation & Warns of Further Measures

    Today, the U.S. Treasury Department and Commerce Department imposed new sanctions on Russia and Belarus as part of the G-7’s collective response to Russia’s claimed annexation of additional Ukraine territory.  The new sanctions target supporters of Russia’s military and defense sectors in Russia, Belarus, and third countries. The Treasury Department’s Office of Foreign Assets Control...

  • U.S. Tightens, Expands Sanctions and Export Controls on Russia & Belarus

    Today, the U.S. Treasury, State, and Commerce Departments announced new sanctions and export control restrictions on Russia and Belarus, targeting parties in and activities related to the technology, quantum computing, finance, and advanced manufacturing sectors.  The Commerce Department’s Bureau of Industry and Security (BIS), in particular, expanded and updated a number of Russia- and Belarus-re

  • EU Imposes Seventh Round of Sanctions: Ban on Russian Gold; New Asset Freezes; Expansion of Existing Measures

    Last week, the European Union imposed its seventh round of sanctions on Russia, imposing a range of new restrictive measures.  The new sanctions include a ban on dealings in Russian-origin gold, updates to existing sanctions to bolster the effectiveness of those measures, and an expanded list of parties subject to an EU asset freeze. Ban...

  • EU Imposes Seventh Round of Sanctions: Ban on Russian Gold; New Asset Freezes; Expansion of Existing Measures

    Last week, the European Union imposed its seventh round of sanctions on Russia, imposing a range of new restrictive measures.  The new sanctions include a ban on dealings in Russian-origin gold, updates to existing sanctions to bolster the effectiveness of those measures, and an expanded list of parties subject to an EU asset freeze. Ban...

  • Latest Round of Russia Sanctions: Rostec & New SDNs, Tariff Increases, Entity List, and Ban on Gold Imports

    Today, the United States, in coordination with other G7 countries, announced new sanctions, export controls, and import restrictions on Russia.  The latest U.S. package of measures include sanctions targeting Russia’s defense sector, Entity List designations, increased tariffs on a broad range of Russian goods, and an import ban on Russian gold. New Sanctions Various U.S....

  • EU’s Latest Sanctions Package Imposes Embargo on Russian Energy; Additional Restrictions On Russian and Belarusian Dealings

    Last Friday, the European Union adopted its sixth round of sanctions against Russia, including the highly anticipated ban on imports of Russian seaborne crude oil and petroleum products and the provision of related services, subject to certain exceptions. The European Union’s latest package also expands its ban on the provision of SWIFT interbank messaging network...

  • Latest U.S. Sanctions on Russia Target Elites, Steel, Gold, Luxury Firms, and Military Procurement

    Today, the United States imposed new sanctions on Russia, targeting Russian oligarch Alexey Mordashov and his companies, other Russian elites, luxury asset management and service companies, and companies involved in procurement for the Russian and Belarusian militaries. Targeting Russian Elites and Their Companies The Office of Foreign Assets Control (OFAC), together with the U.S. State...

  • New U.S. Sanctions on Russia: Corporate Services Ban, Industrial Export Controls, & New SDNs

    In coordination with other G7 countries, the United States announced another significant round of sanctions and export control restrictions on Russia on Sunday, May 8.  These include a new ban on the provision of certain services to Russia, new export controls, and sanctions on Russia’s media and financial sectors, and further additions to the Office...

  • OFAC Issues Fact Sheet Summarizing Humanitarian-related Authorizations Under Russia Sanctions, New Humanitarian-related General License

    On April 19, 2022, the Office of Foreign Assets Control (OFAC) issued a fact sheet with guidance on various humanitarian general licenses that authorize activities otherwise prohibited by U.S. sanctions, and respond to the threat Russia’s war in Ukraine poses to global food and energy supply chains.  The fact sheet provides consolidated guidance to non-governmental organizations,...

  • Commerce Department Significantly Expands Export Controls on Russia and Belarus; Limits Exceptions for Belarusian Aircraft

    In a rule change that was effective April 8, 2022, but communicated on April 11, 2022 the Commerce Department’s Bureau of Industry and Security (BIS) expanded coverage of export controls on Russia and Belarus to include any item with an Export Control Classification Number (ECCN).  Prior controls applied to items in Commerce Control List (CCL)...

  • EU Publishes Fifth Round of Sanctions on Russia

    Today, the European Union published its fifth major round of sanctions on Russia and Belarus.  The sanctions package includes a full transaction ban on four major Russian banks, port and transportation sanctions, import bans on coal, wood, cement, seafood, and liquor, an export ban on jet fuel and certain sensitive goods, additional asset freezes, and...

  • U.S. Imposes Sanctions on Alrosa – World’s Largest Diamond Producer, Extends Sanctions on United Shipbuilding Corporation

    Yesterday, the U.S. Office of Foreign Assets Control (OFAC) added Public Joint Stock Company Alrosa (Alrosa) to the List of Specially Designated Nationals (SDN List), subjecting the company and its majority-owned subsidiaries to full U.S. blocking sanctions.  According to OFAC, Alrosa is the world’s largest diamond mining company and is responsible for 90 percent of Russia’s diamond mining...

  • U.S. Issues Telecommunications & Internet Communications General License for Russia

    On April 7, the U.S. Office of Foreign Assets Control (OFAC) issued a new General License No. 25 (GL25) authorizing certain transactions ordinarily incident to telecommunications and the exchange of communications over the internet in Russia. GL25 authorizes U.S. persons to engage in transactions that are ordinarily incident and necessary to the to the receipt or transmission...

  • U.S. Issues Telecommunications & Internet Communications General License for Russia

    On April 7, the U.S. Office of Foreign Assets Control (OFAC) issued a new General License No. 25 (GL25) authorizing certain transactions ordinarily incident to telecommunications and the exchange of communications over the internet in Russia. GL25 authorizes U.S. persons to engage in transactions that are ordinarily incident and necessary to the to the receipt or transmission...

  • Congress Votes to Revoke Russian PNTR, Ban Russian Energy Imports

    Today, by overwhelming margins, Congress passed two pieces of legislation to further punish Russia for its invasion of Ukraine. The bipartisan bills suspend Permanent Normal Trade Relations (PNTR) with Russia and Belarus and codify President Biden’s recent Executive Order banning Russian energy imports. The bills now head to the President’s desk and are expected to...

  • U.S. Imposes New Russia Sanctions Targeting Banks, Investments, Services, & Officials; EU Announces Fifth Round of Sanctions

    Today, the United States imposed broad new sanctions on Russia in response to the continuing conflict in Ukraine.  The new measures include full blocking sanctions on Sberbank and Alfa-Bank, two of the largest banks in Russia, a ban on new investment on any sector of the Russian economy, and blocking sanctions on additional Russian elites. ...

  • U.S. Imposes New Russia Sanctions Targeting Banks, Investments, Services, & Officials; EU Announces Fifth Round of Sanctions

    Today, the United States imposed broad new sanctions on Russia in response to the continuing conflict in Ukraine.  The new measures include full blocking sanctions on Sberbank and Alfa-Bank, two of the largest banks in Russia, a ban on new investment on any sector of the Russian economy, and blocking sanctions on additional Russian elites. ...

  • BIS Adds 120 Russian & Belarusian Parties to the Entity List

    On Friday, the Commerce Department’s Bureau of Industry and Security (BIS) added 120 parties operating in the Russian and Belarusian aerospace, maritime, and defense sectors to the Entity List.  BIS designated the parties for attempting to procure items subject to the Export Administration Regulations (EAR) for the Russian and Belarusian militaries and for their military...

  • Summary of Sanctions Imposed on Russia This Week (March 18, 2022)

    The pace of new Russia sanctions matters slowed this week, with most of the action coming out of the European Union and United Kingdom.  New measures this week included bans on imports of steel and iron products, exports of luxury goods, investments in the Russian energy sector, and dealings with oligarchs and Russian state-owned enterprises. ...

  • EU Bans Dealings in Russian Iron & Steel Products; Imposes Luxury Goods & Energy Investment Bans

    Today, the European Union imposed another round of significant sanctions and trade controls on Russia in response to the crisis in Ukraine.  In addition to new asset freeze sanctions, the EU implemented a series of new trade restrictions on dealings with the Russian economy, including an import ban on Russian iron and steel products, a ban on exports...

  • Summary of Sanctions Imposed on Russia This Week (March 11, 2022)

    It has been almost three weeks since the U.S. and its allies began imposing serious new sanctions and export control restrictions on Russia and Belarus in response to Russia’s invasion of Ukraine.  This post summarizes the state of affairs as of Friday, March 11, 2022. Please reach out to our team if you have any questions about these...

  • More Sanctions on Russia: Import Bans, Revocation of MFN Status, Luxury Goods Ban, USD Ban, Other Measures

    In coordination with the European Union and G7 countries, the United States announced a raft of new sanctions and trade control measures targeting Russia today in response to the ongoing war in Ukraine.  The new measures include: The planned revocation of Russia’s Most Favored-Nation status, which is likely to substantially increase duties on many imports of Russian goods;...

  • European Union Imposes Further Sanctions and Export Controls on Russia, Expands Sanctions on Belarus

    On March 9, 2022, the European Union imposed new sanctions on Russian oligarchs, businesspeople and government officials; significantly expanded sanctions on Belarus; and imposed new maritime-related export controls on Russia. Below is a summary of the new measures. New Asset Freeze Sanctions The EU imposed asset freezes on following 14 Russian oligarchs and prominent businesspeople:...

  • FinCEN Warns Of Russia Sanctions Evasion; Focus on Crypto

    On March 7, 2022, the Financial Crimes Enforcement Network (FinCEN) issued an alert advising financial institutions to be vigilant against attempts to evade recent U.S. sanctions imposed on Russia’s following that country’s invasion of Ukraine. Sanctioned actors may try evade the reach of U.S. and allied sanctions measures by hiding behind non-sanctioned and third-country entities,...

  • Summary of Sanctions Imposed on Russia This Week (March 4, 2022)

    Over the last two weeks, the United States, European Union, and allied countries imposed a broad range of sanctions and export control restrictions on Russia and Belarus in response to Russia’s invasion of Ukraine.  Additional sanctions measures are likely in response to the very fluid situation in Ukraine. This post summarizes the state of affairs...

  • U.S. Expands Oil Equipment Export Controls on Russia

    Yesterday, the Commerce Department’s Bureau of Industry and Security (BIS) issued a final rule restricting the export of critical oil refining equipment to Russia and tightening license requirements for exports to the Russian oil and gas industry. The final rule makes two key changes to current sanctions on the Russian energy sector. First, the rule...

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