On 15 March, Jurist reported that the move is a part of a coordinated effort by Australia and its allies to support Ukraine in the war against Russia. Since the start of the war, Australia has imposed over 460 sanctions on Russian individuals and entities, including the Central Bank of Russia, Russian Armed Forces, Putin, Putin’s security council and a number of oligarchs. Among those sanctioned are Chelsea Football Club owner Roman Abramovich.
EU Regulation 2022/427/EU added 15 individuals and 9 entities to the list of persons, entities and bodies subject to restrictive measures as set out in Annex I to Regulation (EU) No 269/2014 (including Roman Abramovich).
EU Regulation 2022/428/EU amends the text of Regulation (EU) No 833/2014, in the light of recent amendments to sanctions involving further trade restrictions concerning iron and steel, as well as luxury goods; making changes which expanded the list of persons connected to Russia’s defence and industrial base, on whom tighter export restrictions regarding dual-use goods and technology as well as goods and technology which might contribute to the technological enhancement of Russia’s defence and security sector are imposed; imposed prohibitions targeting new investments in the Russian energy sector, as well as a comprehensive export restriction on equipment, technology and services for the energy industry in Russia, with the exception of the nuclear industry and the downstream sector of energy transport; prohibited all transactions with certain state-owned companies which are already subject to refinancing restrictions; and prohibited the provision of credit rating services and bans access to any subscription services in relation to credit rating activities to Russian clients.
A Notice from HM Treasury on 15 March advised that another 350 names had been added to the Russia sanctions list, and that 2 existing entries on the list had been amended.
The International Chamber of Commerce has published this consolidated guidance for use with trade finance-related instruments that are subject to the rules drafted by the ICC Banking Commission (“ICC rules”). The purpose of this consolidated Guidance Paper is to highlight certain issues arising from the use of such clauses and recommend best practices in that respect.
A news release from the State Department on 15 March advised that 11 individuals are being designated pursuant to E.O. 14024 as persons who operate or have operated in the defence and related materiel sector of the Russian Federation economy.
A news release from OFAC on 15 March advised of 15 new names and 1 new entity added to sanctions lists.
On 14 March, Flight Global reported that Vladimir Putin has moved to effectively seize hundreds of aircraft currently operated by Russian carriers from foreign lessors. He signed a law that allows the jets to be registered in Russia, in essence confiscating them from their overseas owners, retaliating against sanctions.
On 15 March, KPMG reported that CBP has issued a release announcing that merchandise produced or manufactured by a specific Chinese sporting goods company will be detained at all US ports of entry. This follows an investigation indicating that the sporting goods company uses North Korean labour in its supply chain.
A Notice from HM Treasury on 15 March advised that 14 new names had been added to existed sanctions lists, 6 existing entries have been amended and 2 others corrected.
UK TERRORISM SANCTIONS: CORRECTIONS TO 2 EXISTING ENTRIES
On 15 March, HM Treasury announced that 1 existing entry on its terrorism sanctions list had been amended and another corrected.
UK: 2 ENTRIES ON RUSSIA SANCTIONS LIST AMENDED
On 15 March, HM Treasury announced that the existing entries for Anatoly Borisovich VYBORNY and Aleksei Mikhailovich CHALIY had been amended.
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