The Office of Foreign Assets Control issued additional sanctions on major Russian state-owned enterprises and five additional general licenses related to Russia. OFAC expanded sanctions against Alrosa, the world's largest diamond mining company, along with United Shipbuilding Corporation, which is responsible for the construction of almost all of Russia’s warships, OFAC said April 7. Alrosa was previously designated in February (see 2202240069).
American farmers on a trade mission in Cuba said U.S. restrictions are still hampering agricultural exports to the island, Reuters reported April 6. Although the U.S. offers carve-outs for certain agricultural products, the farmers said they aren’t competing on a level playing field compared with other foreign suppliers. "We're hamstrung because of this embargo," Paul Johnson, co-chair of the U.S. Agricultural Coalition for Cuba, told Reuters. "We can't compete on even footing with other suppliers around the world, because they can offer credit ... that means a lot." The U.S. Agricultural Coalition for Cuba didn’t comment. A spokesperson for the Treasury Department, which oversees certain Cuba sanctions, declined to comment.
The EU officially adopted its fifth round of sanctions on Russia over its invasion of Ukraine, banning the import or transfer of Russian coal and other solid fossil fuels. The EU ramped up pressure on Russia following atrocities committed in the Ukrainian city of Bucha, the European Council said April 8.
The U.K. added eight individuals and two entities to its Russia sanctions regime in another move to punish Russia for its invasion of Ukraine. The individuals are Sergei Sergeivich Ivanov; Boris Borisovich Rotenberg; Gazprombank Management Board Chairman Andrey Igorevich Akimov; Public Joint Stock Company Gazprom Neft Management Board Chair Alexander Valeryevich Dyukov; Sergey Anatolyevich Kogogin, director general of Kamaz PJSC; Andrey Grigoryevich Guryev, former deputy board chairman at PJSC PhosAgro; Novatek PJSC Management Board Chairman Leonid Viktorovich Mikhelson; and Viatcheslav Kantor, chairman of the coordinating board of PJSC Acron.
Australia imposed sanctions on an additional 67 Russians for their roles in Moscow’s war in Ukraine, Australia's foreign affairs ministry said April 7. The sanctions, which were levied after reports of alleged war crimes committed by Russian forces in Ukraine, target senior Russian military and government officials. Australia said it now has sanctioned nearly 600 people and entities related to the Russian war in Ukraine (see 2203180006, 2203080008 and 2204050019).
With the administration considering sanctions on Kaspersky Labs, companies should be assessing not only their own use of the Russia-based software vendor’s cybersecurity offerings, but also use by their vendors and suppliers of Kaspersky’s products, law firm Crowell said on April 6.
The Office of Foreign Assets Control on April 5 sanctioned Hydra Market, a Russia-based darknet market used to buy and sell illegal goods, and identified more than 100 virtual currency addresses associated with Hydra’s operations. The agency also sanctioned Garantex, a virtual currency exchange with operations in Moscow. OFAC said that more than $100 million worth of transactions associated with Garantex “are associated with illicit actors and darknet markets.”
The U.K.'s Office of Financial Sanctions Implementation in an April 5 notice amended the sanctions listing for private Russian military contractor Wagner Group. OFSI updated the name on the listing.
European Commission President Ursula von der Leyen announced in an April 5 speech in Strasbourg the scope of the EU's fifth round of sanctions on Russia following its invasion of Ukraine, according to prepared remarks. The sanctions consist of "six pillars" along with a host of restrictions on individuals close to the Russian regime.
The U.S. and allies plan to issue a host of new Russia sanctions today, April 6, including new investment restrictions and more sanctions targeting financial firms, state-owned companies and government officials, White House Press Secretary Jen Psaki said April 5. The sanctions, previewed earlier this week by U.S. national security adviser Jake Sullivan (see 2204040003), are part of the administration's efforts to impose "consequences" on Russia and "hold Russian officials accountable" for the country's war in Ukraine, Psaki said. "Our objective here is to deplete the resources that [Russian President Vladimir] Putin has to continue his war against Ukraine," Psaki said. "And obviously causing more uncertainty and challenges to their financial system is a part of that."