Switzerland banned buying, importing or transporting gold and gold products from Russia, it announced in an Aug. 3 sanctions move. The Swiss Federal Council also imposed an asset freeze on Sberbank and carved out two new exceptions from the sanctions regime over agricultural products and oil supplies to third countries. Previously, Switzerland added 54 individuals and nine entities to its Russia sanctions list on July 28. With this week's decision, Switzerland said it's now in line with the EU's sanctions regime.
Rep. Michael McCaul, R-Texas, urged the Biden administration this week to back away from nuclear deal negotiations with Iran (see 2207120033), saying the U.S. won’t get a “remotely adequate nuclear deal” out of the process. “For months, Iran has deliberately wasted time by keeping the door open for talks while its nuclear program charges forward,” McCaul said in an Aug. 4 statement. “The administration needs to wake up to this farce and pull the plug.”
Members of the G-7, along with the EU, said this week they are considering more measures to reduce Russia’s ability to export its energy around the world, including a “comprehensive” ban on all services that “enable transportation of Russian seaborne crude oil and petroleum products globally” unless the oil is purchased below a certain price. The countries also said they plan to continue to reduce reliance on a range of Russian imports, including “civil nuclear and related goods,” and will help other countries also diversify away from Russia. “As we phase out Russian energy from our domestic markets, we will seek to develop solutions that reduce Russian revenues from hydrocarbons, support stability in global energy markets, and minimize negative economic impacts, especially on low- and middle-income countries,” the countries said.
The Office of Foreign Assets Control reissued three Russia-related general licenses Aug. 3 to clarify that the licenses apply to Joint Stock Company State Transportation Leasing Company. The Aug. 2 GLs (see 2208020032) omitted the word Leasing in the company’s name. The GLs are otherwise unchanged.
The U.K. added two entries, removed one and amended 18 others under its Russia sanctions regime. The Office of Financial Sanctions Implementation Aug. 2 notice said the U.K. re-added two Rosneft Oil board members -- Didier Casimiro and Zeljko Runje -- to the list, subjecting them to an asset freeze and travel ban. The Rosneft executives had been dropped from the list in July. OFSI delisted Olga Ayziman.
The U.K. amended 45 entries under its North Korea sanctions regime and one entry under its Venezuela sanctions list. In a pair of notices, the Office of Financial Sanctions Implementation also issued corrections for three entries under the North Korea restrictions and two entries under the Venezuela sanctions list.
Canada this week announced new sanctions on 43 Russian military officials and 17 entities that are “complicit” in Russia’s war in Ukraine. The entities include organizations in Russia’s science, research, shipbuilding and engineering sectors.
The Office of Foreign Assets Control issued a new round of sanctions targeting Kremlin-connected elites and businesses that generate "substantial revenue for the Russian regime, OFAC said in an Aug. 2 news release. Thirteen individuals, 36 entities and two vessels were added to OFAC's Speacially Designated Nationals List.
The Office of Foreign Assets Control on Aug. 1 added six companies and one vessel to its Specially Designated Nationals List for their involvement in the sale of Iranian petroleum and petrochemical products to East Asia.
The U.S. is considering new sanctions against a Middle East-based businessman and a network of companies exporting Iranian oil and disguising it as Iraqi, The Wall Street Journal reported July 31. The sanctions could target a United Arab Emirates-based businessperson and several other individuals and firms that have been conducting ship-to-ship transfers of the oil in waters between Iran and Iraq, the report said. The ships then forge documents to hide the oil's true origin and evade Western sanctions. But the U.S. may not impose the sanctions, the report said, because it’s “balancing the desire” to limit funds to Iran’s nuclear program while also battling inflation partly caused by international sanctions against Russia, one of the world’s largest oil exporters. The White House didn’t comment.