Tag Archives: Ukraine

UK’s Office of Financial Sanctions Implementation (OFSI) Updates Financial Sanctions

OFSI, part of the HM Treasury, working toward ensuring that financial sanctions are properly implemented and enforced in the UK, has updated numerous financial sanctions that are currently in force. The recent updates are for financial sanctions in the following regions and industries: ISIL/Da’esh and Al-Qaida Organizations Nicaragua Venezuela Central African Republic Ukraine – Sovereignty and Territorial Integrity Syria Libya … Continue Reading

OFAC Temporarily Extends Ukraine-related General Licenses

On October 12 and October 19, 2018, Office of Foreign Assets Control (OFAC) extended the expiration date of certain Ukraine-related General Licenses. Specifically, OFAC issued General License 13E and 13F, Authorizing Certain Transactions Necessary to Divest or Transfer Debt, Equity, or Other Holdings in Certain Blocked Persons, which extend the deadline for certain transactions with GAZ Group and with  RUSAL … Continue Reading

OFAC Offers Temporary Extension of Ukraine-related General Licenses

On September 21, 2018, OFAC extended certain Ukraine-related general licenses. OFAC issued General License No. 13D authorizing certain transactions necessary to divest or transfer debt, equity, or other holdings in listed blocked persons. OFAC also issued General Licenses No. 14A and 16A, which authorize certain activities necessary to the maintenance or wind down of operations or existing contracts with 1) United … Continue Reading

Trump Administration Issues CAATSA-related Executive Order

On September 20, 2018, President Trump issued a new CAATSA-related Executive Order (EO) titled, “Authorizing the Implementation of Certain Sanctions Set Forth in the Countering America’s Adversaries Through Sanctions Act” and an accompanying frequently asked question. This EO provides authority to the Secretary of Treasury to take certain actions to implement certain sanctions under the Countering America’s Adversaries Through Sanctions … Continue Reading

OFSI Updates Financial Sanctions

The Office of Financial Sanctions Implementation (OFSI), which is part of HM Treasury and works to ensure that financial sanctions are properly implemented and enforced in the UK, has  updated a number of financial sanctions currently in force. The recent updates are as follows: Financial sanctions, Libya; Financial sanctions, Ukraine (Sovereignty and Territorial Integrity); Financial sanctions, North Korea (Democratic People’s … Continue Reading

EU Prolongs Validity of Certain Sanctions Enforced in Relation to the Situation in the Ukraine

The Council of the EU has extended the validity of the sanctions against persons involved in the misappropriation of Ukrainian State funds, or persons responsible for human rights violations in Ukraine, and natural or legal persons, entities or bodies associated with them. The sanctions remain in force until 6 March 2019. (Council Decision (CFSP) 2018/333 and Council Implementing Regulation (EU) … Continue Reading

Four Non-EU Countries Align With EU Sanctions Against Russia

On 31 January 2018, the High Representative of the Union for Foreign Affairs and Security Policy announced that Montenegro, Albania, Norway and Ukraine had aligned themselves with EU Council Decision (CFSP) 2017/2426. They have, therefore, extended a part of the sanctions imposed on Russia in relation to its violation of Ukrainian sovereignty and territorial integrity … Continue Reading

Part of EU Sanctions on Russia Extended Through July 2018

On 21 December 2017, the Council of the European Union prolonged sanctions targeting sectors of the Russian economy until 31 July 2018 (See Council Decision (CFSP) 2017/2426). The restrictive measures include limited access to EU primary and secondary capital markets for certain Russian banks and companies, an export and import ban on trade in arms, … Continue Reading

EU Issues Judgments on Designated Individuals Under Ukraine Restrictive Measures

On 8 November, the EU General Court delivered judgements in the cases of Klymenko v Council (case T-245/15) and Ivanyushchenko v Council (case T-246/15). These cases concerned two individuals designated as “persons identified as responsible for the misappropriation of Ukrainian State funds and persons responsible for human rights violations” and, therefore, subject to restrictive measures … Continue Reading

EU Reduces Tariff on Imports from Ukraine

As of 1 October, the EU opened its market for some agriculture and industrial goods produced in Ukraine. The new EU Regulation on autonomous tariff measures grants certain benefits for Ukrainian importers. For instance, it waives customs duties for Ukrainian fertilizers, aluminum products or consumer electronics, also giving advantages to EU entrepreneurs that trade or purchase goods or raw materials … Continue Reading

EU Extends Economic Sanctions Against Russia by Six Months

On 28 June 2017, the European Council extended the economic sanctions targeting specific sectors of the Russian economy until 31 January 2018. These sanctions were originally introduced on 31 July 2014 in response to Russia’s actions destablising the situation in Ukraine and to target the financial, energy and defence sectors, as well as dual-use goods. The EU has expressed that … Continue Reading

BIS Announces Arrest of Ukrainian National and a US$27 Million Settlement With Access USA Shipping, LLC

On 7 March, the Bureau of Industry and Security (BIS) announced the arrest of a Ukrainian national on charges related to the export of military technology to Ukraine. Separately, on 24 March, the BIS announced a US$27 million civil settlement with Access USA Shipping, LLC, a company based in Sarasota, Florida, for alleged export controls violations … Continue Reading

EU Extends Ukraine Misappropriation Sanctions

Following its annual review, the EU has renewed its asset freezes relating to individuals who are identified as being responsible for misappropriating Ukrainian state funds until 6 March 2018. These asset freezes were initially introduced in March 2014. Implementing Regulation 2017/374 implements Regulation 208/2014 and Decision 2017/381 amends Decision 2014/119/CFSP.… Continue Reading

EU Extends Asset Freezing Measures and Travel Bans on Individuals and Entities Responsible for Undermining the Territorial Integrity of Ukraine

The EU has extended its asset freezing measures and travel bans on entities and individuals who are involved in undermining or threatening Ukraine’s territorial integrity, sovereignty and independence for a further six months, until 15 September 2017. The EU’s listings on these measures include, to date, 150 people and 37 entities. Implementing Regulation 2017/437 implements … Continue Reading

European Court of Justice (ECJ) Clarifies Sanctions in Response to the Crisis in Ukraine Against Certain Russia Undertakings

In February 2015, the UK Divisional Court referred questions to the ECJ for a preliminary ruling in the course of Rosneft’s judicial review proceedings challenging UK legislation that gives effect to EU sanctions against Russia. The questions referred concerned the interpretation and validity of Council Decision 2014/512/CFSP and Council Regulation (EU) 833/2014. In response to … Continue Reading

EU Renews Listings Under its Sanctions Against Ukraine’s Territorial Integrity

On 17 January 2017, the EU published a notice addressed to 50 individuals and seven entities designated under its sanctions related to the territorial integrity, sovereignty and independence of Ukraine, stating that it intends to maintain the restrictive measures against these individuals and entities with new statements of reasons. The sanctions target individuals and entities … Continue Reading

EU Diplomats Support Keeping Sanctions Against Russia Over Ukraine

Following a recent European Council meeting on 6 February, EU foreign ministers have stated that sanctions against Russia must remain in force until it helps end fighting in eastern Ukraine. Foreign policy chief Federica Mogherini stated that the EU will never recognise Russia’s 2014 annexation of the Crimean Peninsula and insisted that all sides must … Continue Reading

EU Extends Russia Sanctions

On 19 December, the European Council extended the application of economic sanctions targeting specific sectors of the Russian economy for a further six months until 31 July 2017. These restrictions were introduced on 31 July 2014 by way of Council Regulation (EU) No 833/2014 “concerning restrictive measures in view of Russia’s actions destabilising the situation in … Continue Reading

Trade Talk: Week in Review (4-9 January 2017)

President Barack Obama will travel to Chicago on Tuesday, 10 January, to deliver his farewell address to the nation.  U.S. businessman Donald Trump will be sworn in as the 45th President of the United States on Friday, 20 January. Trump Transition News – Confirmation Hearings.  Senate Foreign Relations Committee (SFRC) Chairman Bob Corker (R-Tennessee) has … Continue Reading

EU Imposes Asset Freeze Measures on Crimean Members of the Russian Parliament

The EU Council has added six members of the Russian Parliament, all were elected to the State Duma from the Crimea and Sevastopol region of Ukraine in September, to its sanctions adopted with respect to territorial integrity or sovereignty of Ukraine. Regulation (EU) 2016/1955 implementing Regulation 269/2014 and Decision 2016/1961 amending Decision 2014/145/CFSP.… Continue Reading

Theresa May Confirms That Brexit Will Not Affect EU Russian Sanctions

On 1 August, during a phone conversation with President of Ukraine Petro Poroshenko, UK Prime Minister Theresa May confirmed that the position of the UK as regards sanctions against Russia was “unchanged following the UK’s Brexit vote in June”. The Prime Minister further added that sanctions will remain until Russia fully complies with its obligations under the Minsk agreements.… Continue Reading
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