Monday, January 30
The EU Council adopted (or published) three sanctions-related decisions:
COUNCIL DECISION (CFSP) 2023/190 expanded the broadcasting prohibitions, stated in Article 4g of Council Decision (CFSP) 2022/2478 to a number of Russian media outlets. Subsequently, the EU Commission updated its Media-related FAQs in the context of sanctions against Russia;
COUNCIL DECISION (CFSP) 2023/193 imposed blocking sanctions on Iran Aircraft Manufacturing Industries Corporation for providing military support (Unmanned Aerial Vehicles) to Russia.
Australia initiated a review of its autonomous sanctions framework. As part of its efforts, the Australian Sanctions Office (ASO) issued a paper and invited the public to submit their comments. (Here)
Tuesday, January 31
The United State also took action against Burma by imposing blocking sanctions on six individuals and three entities connected to Burma’s military regime. (Here, the Department of the Treasury press release, the Department of State press release)
Wednesday, February 1
Australia also imposed blocking sanctions against several individuals and entities responsible for egregious human rights abuses in Myanmar. (Here, press release) Furthermore, the Australian government imposed additional blocking sanctions against several individuals and one entity in Iran for their role in egregious human rights abuses under its Magnitsky-style sanctions program. (Here, press release)
OFAC imposed blocking sanctions against ten individuals and twelve entities across multiple countries (including Singapore, Israel, Latvia, Bulgaria, and Cyprus) related to a sanctions evasion network supporting Russia’s military-industrial complex. (Here, the Department of the Treasury press release, the Department of State press release)
Thursday, February 2
No major development on this day.
Friday, February 3
OFAC imposed blocking sanctions on seven individuals who are board members of an Iranian company that provides Unmanned Aerial Vehicles to Russia under the U.S. non-proliferation sanctions regime. OFAC also added the identifying information of two vessels owned by Iran's navy. (Here, the Department of the Treasury press release, the Department of State press release)
On Friday and Saturday, the U.S., UK, EU, and other G7 countries, rolled out their price cap restrictions on Petroleum Products of Russian Federation Origin. The mechanism is similar to that of crude oil which was already in place. The price caps, however, are different. High-value Russian exports such as diesel and gasoline will be capped at $100 while lower-value products such as fuel oil will be capped at $45. (OFAC's announcement, UK's government press release, OFSI's updated Guidance, EU Council's press release, Council Decision (CFSP) 2023/252, EU Comission's updated FAQs,)
Monday, February 6
No major development on this day.
Tuesday, February 7
A federal court in New York unsealed an indictment today charging a citizen of the Russian Federation and legal permanent resident of the United States (oops we have a U.S. person) with participating in a scheme to make over $4 million in U.S. dollar payments to maintain four real properties in the United States that were owned by Viktor Vekselberg, a sanctioned oligarch, as well as to attempt to sell two of those properties. (Here)
Wednesday, February 8
OFAC imposed blocking sanctions on two individuals under the U.S. Transnational Criminal Organizations program. Concurrently, the Department of State announced reward offers for information leading to the arrest or conviction of the two designated persons. (Here, the Department of the Treasury press release, the Department of State press release)
OFAC also published a new FAQ about inheriting securities issued by non-blocked Russian entities. (Here)
Thursday, February 9
OFAC and OFSI took joint action under their respective cyber sanctions program/regimes against both countries' critical infrastructure.
OFSI imposed blocking sanctions on seven individuals. (Here)
OFAC imposed blocking sanctions on nine entities across multiple jurisdictions (including Iran, Singapore, and Malaysia) that have played a critical role in the production, sale, and shipment of hundreds of millions of dollars’ worth of Iranian petrochemicals and petroleum to buyers in Asia. (Here, the Department of the Treasury press release, the Department of State press release)
OFSI updated several of its sanctions regimes to reflect the provisions of U.N. humanitarian exceptions in line with UNSCR 2664 (2022) adopted on December 9, 2022, which established humanitarian carveouts under various UN sanctions programs.
Friday, February 10
OFSI imposed blocking sanctions on three individuals in Bulgaria under the Global Anti-Corruption sanctions regime of the UK. (Here) The United States had already sanctioned these individuals.
OFAC imposed blocking sanctions on five individuals and five entities in relation to corruption in Bulgaria under the U.S. Global Magnistky program. (Here, the Department of the Treasury press release, the Department of State press release)
You probably heard about the Chinese balloon story! In relationship to that, BIS added six entities in the People’s Republic of China to the Entity List for supporting the country's military modernization efforts, specifically those related to aerospace programs, including airships and balloons and related materials and components, used for intelligence and reconnaissance. (Press release, rule)
The Recommendations of the Week
If you have not already seen this page, the Department of State has a dedicated page to Russia and Belarus sanctions with all the sanctions measures in one place. Check it out here.
Chainanalysis published a great piece about the challenges and opportunities in cryptocurrency sanctions compliance. Check it out here: Challenges and Opportunities in Cryptocurrency Sanctions Compliance and How Blockchain Analysis Can Help