Day: January 6, 2023

On 6 January, OFAC announced that it has designated 6 executives and board members of the designated Qods Aviation Industries (QAI), a key Iranian defence manufacturer responsible for the design and production of UAV.  Iran has transferred these UAV for use in Russia’s unprovoked war of aggression in Ukraine.  OFAC is also updating QAI’s entry on the Specially Designated Nationals and Blocked Persons List (SDN List) to include its new alias, Light Airplanes Design and Manufacturing Industries.  Finally, OFAC is designating the director of Iran’s Aerospace Industries Organization (AIO), the key organization responsible for overseeing Iran’s ballistic missile programs.

https://home.treasury.gov/policy-issues/financial-sanctions/recent-actions/20230106

https://home.treasury.gov/news/press-releases/jy1182

https://www.buymeacoffee.com/KoIvM842y

On 5 January, the UK Government updated its Russia sanctions guidance.  This was to clarify the application of prohibitions on the provision of technical assistance to aviation and space goods and technology and critical-industry goods and technology. 

https://www.gov.uk/government/publications/russia-sanctions-guidance/russia-sanctions-guidance

https://www.buymeacoffee.com/KoIvM842y

On 6 January, the EU Sanctions blog reported that a Dutch court had rule din a case involving SBK Art, a subsidiary of Sberbank Russia formed in April 2022 to hold Sberbank’s interests in Fortenova Group.  The court ruled that EU sanctions prohibit a listed person exercising voting rights which could lead to any change in relation to shares and that the voting rights could be an economic resource used to obtain funds, goods or services.

https://www.europeansanctions.com/2023/01/dutch-court-judgment-exercising-voting-rights-can-breach-sanctions/