Steptoe & Johnson LLP (LexBlog Russia)

83 results for Steptoe & Johnson LLP (LexBlog Russia)

  • US Government Imposes New Sanctions and Novel Export Controls Targeting Russian Financial Markets and Circumvention Networks

    On June 12, 2024, the US government announced a broad package of measures aimed at increasing the extent of economic pressure on Russia and curtailing Russian circumvention of US sanctions and export controls. The measures are a joint effort by the US Department of the Treasury’s Office of Foreign Assets Control (OFAC), the US Department...

  • Disruptive Technology Strike Force: Year in Review

    On February 16, 2023, almost one year after the onset of Russia’s full-scale invasion of Ukraine and among increasing scrutiny of broader geopolitical threats to US supply chains, the US Department of Commerce’s Bureau of Industry and Security (BIS) and the Department of Justice’s National Security Division (NSD) announced the creation of the “Disruptive Technology...

  • US Government Imposes New Russia Sanctions, Designating Over 500 Parties and Issuing Interagency Russia Business Advisory

    On February 23, 2024, the United States issued a broad set of new Russia-related sanctions and export controls in response to the second anniversary of Russia’s invasion of Ukraine and the February 16, 2024, death of opposition leader, Aleksey Navalny, in Russian custody. The Treasury Department’s Office of Foreign Assets Control (OFAC), the Commerce Department’s...

  • OFSI Publishes Update on New Russia Sanctions Reporting Requirements

    The UK government introduced new reporting requirements under The Russia (Sanctions) (EU Exit) Regulations 2019 (“Russia Regulations”) in December 2023, with the goal of strengthening transparency in relation to assets frozen under the regime and assisting HM Treasury’s Office of Financial Sanctions Implementation (“OFSI”) to monitor compliance with, and detect evasion of, financial sanctions...

  • New Secondary Sanctions Target Non-US Banks That Engage in Transactions with Russia’s Military-Industrial Base

    On December 22, 2023, President Biden issued a new Executive Order (“EO”) 14114 “Taking Additional Steps With Respect to the Russian Federation’s Harmful Activities” which amended EOs 14024 and 14068. These amendments introduce the authority to impose secondary sanctions with respect to foreign (i.e., non-US) financial institutions determined to have engaged in any significant transaction...

  • U.S. Government Issues New Russia-related Sanctions Designations and Export Controls Guidance

    On September 14, 2023, the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”), the Department of State, and the Department of Commerce’s Bureau of Industry and Security (“BIS”) announced new sanctions designations and export control guidance related to Russia.  These developments are the latest updates in the U.S. government’s ever-evolving response to...

  • OFAC and State Department Significantly Expand Russia-Related Sanctions

    On May 19, 2023, the US Treasury Department’s Office of Foreign Assets Control (“OFAC”) and the US Department of State announced a new round of multifaceted sanctions against Russia.  These sanctions actions were announced alongside additional export controls imposed by the US Commerce Department’s Bureau of Industry and Security (“BIS”) and the publication of a...

  • BIS Expands Export Controls on Russia and Belarus and Issues New Joint Alert with FinCEN

    On May 19, 2023, in conjunction with the G7, Australia, and other international partners, the US government announced a range of new export controls and sanctions and added 71 entities to the Entity list, primarily for supporting Russia’s military and defense sectors.  The new export controls – and new sanctions, which are the subject of...

  • EU General Court annuls the listing of the mother of Wagner group chief Yevgeny Prigozhin

    On 8 March 2023, the General Court granted Violetta Prigozhina’s request to annul the restrictive measures imposed via Council Regulation (EU) 2022/260 implementing Regulation (EU) No 269/2014 (“the contested Regulation”). Ms. Prigozhina was placed on the list of designated persons on 23 February 2022, along with members of the government, banks, businesspersons, and Members of...

  • EU adopts 10th package of sanctions

    After weeks of going back and forth, the Council of the European Union (“Council”) was finally able to adopt the 10th package of sanctions against Russia in time to coincide with the first anniversary of Ukraine’s invasion on Friday, 24 February. Since a unanimous decision by the Member States is required in order to move...

  • US Imposes Additional Export Controls, Sanctions, and Tariffs targeting Russia, Belarus, and Iran On First Anniversary of Russia’s War Against Ukraine

    On February 24, 2023, the US government announced a range of new export controls, sanctions, and tariffs to coincide with the first anniversary of Russia’s ongoing war against Ukraine. These actions by the US Department of Commerce, Bureau of Industry and Security (BIS), the US Department of the Treasury, Office of Foreign Assets Control (OFAC),...

  • Department of Justice KleptoCapture Task Force – Director Andrew Adams Shares Observations on Current Efforts and Expected Developments

    The Department of Justice (DOJ) “KleptoCapture” Task Force (the “Task Force”), launched shortly after Russia’s invasion of Ukraine earlier this year, is characterized by DOJ as a key part of the current Administration’s broader anti-corruption initiative. The role of the Task Force is to support the enforcement of sanctions and export control restrictions imposed against...

  • Department of Justice KleptoCapture Task Force – Director Andrew Adams Shares Observations on Current Efforts and Expected Developments

    The Department of Justice (DOJ) “KleptoCapture” Task Force (the “Task Force”), launched shortly after Russia’s invasion of Ukraine earlier this year, is characterized by DOJ as a key part of the current Administration’s broader anti-corruption initiative. The role of the Task Force is to support the enforcement of sanctions and export control restrictions imposed against...

  • What to Expect Next? US Economic Sanctions and Export Controls Enforcement Actions Thus Far in 2022

    This year, we have witnessed an extraordinary set of coordinated economic sanctions and export control regulatory actions against Russia after its invasion of Ukraine. In contrast to the fast and furious pace of regulatory action, enforcement actions did not keep pace. This year’s enforcement actions by the US Treasury Department’s Office of Foreign Assets Control...

  • What to Expect Next? US Economic Sanctions and Export Controls Enforcement Actions Thus Far in 2022

    This year, we have witnessed an extraordinary set of coordinated economic sanctions and export control regulatory actions against Russia after its invasion of Ukraine. In contrast to the fast and furious pace of regulatory action, enforcement actions did not keep pace. This year’s enforcement actions by the US Treasury Department’s Office of Foreign Assets Control...

  • April 18 – May 2, 2022 Russian Sanctions Update

    Between April 18 and May 2, 2022, the US government continued to ratchet up economic sanctions, export controls, and other restrictive trade measures targeting Russia.  Most significantly, on April 21, President Biden issued a Proclamation prohibiting “Russian-affiliated vessels” from entering US ports.  Otherwise, the US government has focused on utilizing its existing authorities to impose...

  • US Sanctions on Russia Continue to Grow

    Between April 5 and April 17, 2022, the US government took several steps to ratchet up economic sanctions, export controls, and other restrictive trade measures targeting Russia and Belarus. President Biden issued a new Executive Order prohibiting US persons from engaging in new investment in Russia, and also establishing a framework through which US persons...

  • A Summary of The Latest US Sanctions on Russia

    Between March 24 and April 1, 2022, the US Treasury Department’s Office of Foreign Assets Control (OFAC) designated over 400 Russian elites, Duma members, and defense companies as Specially Designated Nationals (SDNs) pursuant to Executive Order (EO). 14024. OFAC also published four new, limited General Licenses regarding certain humanitarian, import-related, diplomatic, and journalistic...

  • Episode 400: Transatlantic Privacy Threepeat

    With the U.S. and Europe united in opposing Russia’s attack on Ukraine, a few tough transatlantic disputes are being swept away – or at least under the rug. Most prominently, the data protection crisis touched off by Schrems 2 has been resolved in principle by a new framework agreement between the U.S. and the EU....

  • Update: New US Sanctions on Russia Target Certain Imports, Exports, Dollar Banknotes, and Investments

    As of March 20, 2022, a new Executive Order (EO) prohibited certain imports, exports, the transfer of US dollar banknotes to Russia, and new investments involving certain sectors of the Russian economy.  The US Office of Foreign Assets Control (OFAC) also issued new General Licenses and Frequently Asked Question (FAQ) guidance. Additionally, the US Department...

  • EU Adopts Fourth Package of Sanctions Against Russia

    On March 15, the Council of the EU proceeded to adopt the fourth package of sanctions against Russia over the continued military aggression of Ukraine. With these new sanctions, the EU seeks to address potential loopholes under the first three packages, such as by providing clarifications, to restrict certain derogations, and to expand the sanctions’...

  • Update: EU Adopts Additional Sanctions Against Russia and Belarus over the War in Ukraine

    Since the adoption of the first sanctions package against Russia, the Council of the EU and the European Commission (“Commission”) have been working closely together to adopt increasingly severe sanctions to force President Putin back to the negotiating table in view of reaching a ceasefire. Coordination with allies has also been intense. Following our review...

  • Episode 398: Scarlett Johannsson Finally Makes an Appearance on the Cyberlaw Podcast

    A special reminder that we will be doing episode 400 live on video and with audience participation on March 28, 2022 at noon Eastern daylight time. So mark your calendar and when the time comes, use this link to join the audience: https://riverside.fm/studio/the-cyberlaw-podcast-400 See you there! For the third week in a row, we lead...

  • Update: OFSI Publishes Updated Russia Guidance; Issues New General Licences; and UK Amends Draft Economic Crime Legislation to Move “Harder and Faster” with Sanctions

    On March 4, 2022, HM Treasury’s Office of Financial Sanctions Implementation (OFSI) published an updated version of its Russia guidance and issued two new general licences permitting the wind down of positions with Sberbank and involving Bank Otkritie, Promsvyazbank, Bank Rossiya, Sovcombank, and VEB.  The UK government also put forward a series of amendments to...

  • Episode 397: A Digital Curtain Descends Across Europe

    Much of this episode is devoted to the new digital curtain falling across Europe. Gus Horwitz and Mark-MacCarthy review the tech boycott that has seen companies like Apple, Samsung, Microsoft and Adobe pull their service from Russia. Nick Weaver describes how Russia cracked down on independent Russian media outlets and blocked access to the websites of foreign media including the BBC and Facebook.

  • Episode 397: A Digital Curtain Descends Across Europe

    Much of this episode is devoted to the new digital curtain falling across Europe. Gus Horwitz and Mark-MacCarthy review the tech boycott that has seen companies like Apple, Samsung, Microsoft and Adobe pull their service from Russia. Nick Weaver describes how Russia cracked down on independent Russian media outlets and blocked access to the websites of foreign media including the BBC and Facebook.

  • Episode 396: Waging War in a Networked Age

    Much of this episode is devoted to how modern networks and media are influencing what has become a major shooting war between Russia and Ukraine. Dmitri Alperovitch gives a sweeping overview. Ukraine and its President, Volodymyr Zelensky, clearly won the initial stages of the war in cyberspace, turning broad Western sympathy into a deeper commitment...

  • White House Announces First Sanctions after Russia Enters Ukraine’s Donetsk and Luhansk Regions

    On February 21, 2022, the White House issued a new Executive Order (EO) imposing comprehensive sanctions on the disputed Donetsk and Luhansk regions of Ukraine following President Vladimir Putin’s announcement that Russia would recognize the independence of the so-called Donetsk People’s Republic (DNR) and Luhansk People’s Republic (LNR) and place Russian military forces in those...

  • Webinar: Possible Sanctions Against Russia: What You Need to Know

    Join Steptoe’s Economic Sanctions team on Wednesday, February 9, at 10:30 a.m. ET, for a complimentary webinar in which we will explore the current policy and regulatory landscape related to potential economic sanctions targeting Russia. Our lawyers will discuss the impact of specific instruments under consideration by US, EU, and UK officials, and address compliance challenges, enforcement...

  • Preparing for New Russia-Related Sanctions and Export Controls

    Economic sanctions and export controls will form a core part of any multilateral response to an escalation of Russia’s military actions targeting Ukraine. While it is not possible to predict with certainty whether an escalation will occur or what form the responsive measures would take, this blog post outlines some of the current US sanctions...

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