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Last week's major developments in sanctions - October 3rd to October 7th, 2022

Monday, October 3

  • OFAC designated two individuals and one entity in Bosnia and Herzegovina pursuant to Executive Order (E.O.) 14033. One of the designated individuals is Fadil Novalic, the prime minister of Bosnia and Herzegovina. (Here, Treasury's press release, State's press release)

  • The United States Depart of Commerce's Bureau of Industry and Security ("BIS") renewed three Temporary Denial Orders ("TDO") for three Russian airlines: PJSC Aeroflot, Azur Air, and UTair Aviation JSC.

Tuesday, October 4

  • OFSI added one individual to the list of the UK sanctions while removing one. (Here)

  • The Security Council 2140 Sanctions Committee added one individual to its list of sanctions targets under the Yemen sanctions regime of the UN. (Here)

Wednesday, October 5

  • The United States Department of Defense released the names of “Chinese military companies” operating directly or indirectly in the United States. This is not a sanction list. (Here)

Thursday, October 6

  • The EU Council published its eighth package of sanctions against Russia. The new package consists of three decisions:

  1. Decision 2022/1907: Lists 30 additional and seven additional entities to the list of sanctions targets (asset-freezing) in the EU. Notably, the EU added a new designation criterion which allows the EU to sanction persons that help a sanctioned person evading the EU sanctions against the targets under the EU sanctions regime against Russia. (Press release)

  2. Decision 2022/1908: Expanded the almost comprehensive sanctions, which were in place against Crimea, Donetsk, and Luhansk regions, to Zaporizhzhia and Kherson regions too. (Press release)

  3. Decision 2022/1909: Expands the EU sanctions against Russia by several measures including:

    1. Banning the provision of crypto-asset wallet, account or custody services to Russian persons and residents regardless of the total value of such crypto-assets;

    2. Total ban on the importation of Russian coal into the EU;

    3. Expanding both import and export restrictions;

    4. Introduced the price cap mechanism for the the sale of certain Russian oil;

    5. Prohibition on the provision of architectural and engineering, IT consultancy, and legal advisory services to Russia; and,

    6. Prohibition for EU nationals to hold any posts on the governing bodies of certain Russian state-owned or controlled legal persons, entities or bodies.

  • OFSI amended General License INT/2022/1280876 to include payments related to Insolvency Proceedings under the German Banking Act under the authorization provided under this General License. (Here)

  • OFAC imposed blocking sanctions on three individuals and one entity under its Burma program due to their role in procuring weapons for the Burmese military. (Here, Treasury's press release, State's press release)

  • OFAC imposed blocking sanctions on seven (six were actually added since one of the individuals was already sanctioned pursuant to different authorities) officials in the regime in Iran for their role in surpassing the protests ensuing the killing of a 22-year-old woman in Morality Police's custody. (Here, Treasury's press release, State's press release) (To know more about what is happening in Iran right now, check out here.)

Friday, September 7

  • OFAC imposed blocking sanctions on one individual, one organization, and one company for their role in illegal wildlife trade under the U.S. he Transnational Criminal Organizations Sanctions regime. (Here, Treasury's press release)

  • OFAC also imposed blocking sanctions on two individuals and three entities for activities related to the exportation of petroleum to the Democratic People’s Republic of Korea. (Here, Treasury's press release, State's press release)

  • BIS expanded the export controls rules targeted at China to further limit access of China to certain advanced computing and semiconductor manufacturing Items. (Here) BIS published a summary of changes. (Here)

Recommendation of the week


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