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Last week's major developments in sanctions - Feb. 14th to Feb. 18th, 2022

Monday, February 14th

- In an export control-related development, the Bureau of Industry and Security (BIS) added seven entities to the Entity Lists and amended four entries on the list. (Here)

Tuesday, February 15th

- France's ministry of finance added 14 entries to its list of financial sanctions under the country's counter-terrorism program. (Here)

- The EU trade ministers showed their support for Lithuania by recalling their unity. The ministers also mentioned the work underway at the Council on the proposal of an anti-coercion instrument, which aims to equip the European Union with a means of dissuading its partners from implementing such measures, in accordance with the rules of international law. (Here) For the context: Lithuania allowed Taiwan to open a de facto embassy in its capital. As a response, China imposed some bans against Lithuania. (Here)

- OFAC issued Chinese Military-Industrial Complex Sanctions Regulations codifying the sanctions imposed by a number of executive orders including E.O. 14032. (Here) OFAC also amended the Weapons of Mass Destruction Proliferators Sanctions Regulations. (Here)

Wednesday, February 16th

- FinCEN is going to renew the authority which allows the agency to request information from U.S. banks about the relationships held by foreign banks, for whom the U.S. banks hold a correspondent account, and Iranian-linked financial institutions. (Here)

- OFSI seems to be taking advantage of its list format update, to amend dozens of entries. On Wednesday only, OFSI amended 48 entries across different sanctions regimes.

Thursday, February 17th

- OFAC added one individual to the SDN list under its counter-narcotics program. (Here, press release)

Friday, February 18th

- The UNSC added one entry to the list of sanctions targets under its Somalia sanctions regime. (Here)

Recommendation of the week

- Everyone is talking about the Russia-Ukraine tensions. So, I decided to recommend an opinion published by The New York Times about sanctions against Russia: I Dug Into Whether Sanctions Will Work Against Russia.


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