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Last week's major developments in sanctions - June 26th to June 30th, 2023

Monday, June 26

  • The EU Council imposed blocking sanctions on seven Iranian individuals for their involvement in the crack-down on the people of Iran following the murder of Mahsa Amini by the Morality Policy. (Decision, and press release)

  • OFSI extended General Liceses INT/2022/1710676 (concerning Evraz North American Subsidiaries) till March 21, 2024. It also amended General Licence INT/2022/1875276 (concerning Telecommunications Services and News Media Services) that impacted those considered Designated Persons under the General License.

  • OFSI published new guidance on the Protection of Trading Interests which discusses the so-called blocking regulations of the UK. (Here) Note that the regulations are not new and those protections were already in place.

  • OFSI updated its Belarus sanctions guidance by adding new licensing grounds. (Here)

Tuesday, June 27

Wednesday, June 28

  • OFAC and OFSI issued a joint Humanitarian Assistance and Food Security Fact Sheet to provide additional clarity on U.S. and UK Russia-related sanctions and the relevant authorizations, exceptions, and public guidance. (Here)

  • Australia, Canada, New Zealand, the United Kingdom, and the United States announced their agreement to enhance their formal cooperation on export control enforcement. (Press release)

Thursday, June 29

  • There was no major development on this day.

Friday, June 30

  • OFSI updated General Trade Licence related to the earthquake relief efforts in Syria and Turkey by removing the expiration date of the License. (Here)

  • The Russia (Sanctions) (EU Exit) (Amendment) (No. 3) Regulations 2023 came into force. The new regulations, among other things, prohibited UK persons or persons in the UK from providing legal advisory services in relation to certain financial or trade activity which would be prohibited under the UK sanctions regime if the activity was done by a UK person or was taking place in the UK. Following its entry into force, OFSI updated its guidance on "Providing professional and business services to a person connected with Russia." (Regulations, and updated guidance)

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