The U.K.’s Office of Financial Sanctions Implementation issued a new general license authorizing certain activities, including purchases of tickets for flights or “rail journeys” originating in Russia. The license, issued May 23, authorizes those activities with sanctioned Russian entities PJSC Aeroflot, JSC Rossiya Airlines, JSC Ural Airlines, Russian Railways or any of their subsidiaries.
The Office of Foreign Assets Control said it will not renew the expiring General License 9C, with its authorizations set to end at 12:01 a.m. EDT on May 25. The license allowed transactions necessary to dealings in debt or equity with Bank for Development and Foreign Economic Affairs Vnesheconombank, Bank Otkritie Financial Corporation, Sovcombank Open Joint Stock Company, Sberbank of Russia and VTB Bank (see 2204080046).
The Nuclear Regulatory Commission this week suspended its general license for exports of certain radioactive material to Russia, The change, which took effect May 17, bars exporters from using the NRC general license for exports of the material or “deuterium for nuclear end-use” in Russia, the agency said. Exporters must now apply for a specific license for those shipments.
The U.S. will loosen some Trump-era restrictions on Cuba-related remittances, the State Department announced this week. The administration plans to remove the current limit on family remittances of $1,000 per quarter per “sender-receiver pair,” and it also will authorize donative, or non-family, remittances to “support independent Cuban entrepreneurs.” The agency said it will work with electronic payment processors to “encourage increased Cuban market accessibility.”
The U.K. issued a General License May 12 allowing the Amsterdam Trade Bank, a subsidiary of the Russian Alfa-Bank, to make payments for its basic needs. ATB was listed under the U.K.'s Russia sanctions regime. The license, titled "Amsterdam Trade Bank N.V -- winding down, basic needs and insolvency related payments," permits any individual to make, receive or process any payments in connection with any insolvency proceeding with ATB. The license also allows any individual to wind down any transactions with ATB or a subsidiary. It expires May 12, 2023.
The Office of Foreign Assets Control has issued Syria General License 22, which authorizes the processing or transfer of funds on behalf of third-country entities to or from Syria in support of the transactions necessary for agriculture, information and telecommunications, power grid infrastructure, construction, finance, clean energy, transportation and warehousing, water and waste management, health services, education, manufacturing and trade in northeast and northwest Syria.
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The Treasury Department has enough evidence to show that its Russia sanctions are being violated and needs to move faster to impose secondary sanctions, Sen. Chris Van Hollen, D-Md., said. He said he and Sen. Pat Toomey, R-Pa., plan to push the agency to act.
The U.K. added Russian steel manufacturing and mining company Evraz to its Russia sanctions regime, the Office of Financial Sanctions Implementation said in a May 5 notice. The company is now subject to an asset freeze. Per a statement from the Foreign, Commonwealth & Development Office, Evraz makes 28% of all Russian railway wheels and 97% of Russian railtracks. The OFSI notice listing Evraz also corrected eight entries under the Russia sanctions regime.
The U.S., the EU and the other G-7 members on May 9 announced a series of new sanctions and restrictions on Russia, including a ban on providing certain business management services to the country and a commitment to phase out imports of Russian oil. New U.S. restrictions include broader export controls and sanctions targeting Russian banking executives, a weapons manufacturer and state-owned media.