The EU is preparing a new wave of sanctions relating to Russia's full-scale assault on Ukraine, according to people familiar with the matter, Bloomberg reported March 13. The new wave of restrictions include Roman Abramovich, owner of Chelsea Football Club, who was listed by the U.K. last week, along with over a dozen other prominent Russians, Bloomberg said. Other would-be sanctioned individuals include Tigran Khudaverdyan, executive director of Russian internet search engine Yandex NV, and Viktor Rashnikov, owner of Magnitogorsk Iron & Steel. The new restrictions were expectedto be finalized as early as March 14 but the European Council has not announced any updates.

The U.K.'s Office of Financial Sanctions Implementation added 386 members of the Russian State Duma to its Russia sanctions list as part of its wave of sanctions in response to the Russian invasion of Ukraine. The individuals were added for backing the treaties recognizing the independence of Ukraine's Luhansk and Donetsk regions. The U.S., the EU and Australia already have sanctioned members of the Duma.

Russia will ban exports of a range of goods and products to retaliate against Western sanctions, including telecommunication, medical, auto, agricultural and electrical products, as well as technology equipment and some forestry products, Reuters reported March 10 (see 2203080065). Russia will ban the exports until the end of the year and will also restrict certain foreign ships from entering its ports. "These measures are a logical response to those imposed against Russia and are aimed at ensuring uninterrupted functioning of key sectors of the economy," the Russian economy ministry said, according to the report.

The Office of Foreign Assets Control on March 11 sanctioned Russian people and entities for aiding North Korea's weapons of mass destruction and ballistic missile programs. The designations target Russia-based Apollon OOO; Zeel – M Co., Ltd; and RK Briz, OOO for providing procurement, financial or technological support for North Korea's military industry. OFAC also sanctioned Apollon OOO director Aleksandr Andreyevich Gayevoy and Zeel – M Co., Ltd director Aleksandr Aleksandrovich Chasovnikov.

The U.K. imposed new sanctions on Russia following its invasion of Ukraine that cover aircraft and trade services, Foreign Secretary Liz Truss announced March 9. The restrictions include powers to detain Russian aircraft and remove aircraft belonging to sanctioned individuals and entities, ban the export of aviation and aerospace-related goods and bar British companies from providing insurance for these goods. The aviation restrictions also give power to the Civil Aviation Authority to refuse or revoke permissions for Russian aircraft and block registration under the CAA of aircraft owned, operated or chartered by a sanctioned party. The Export Control Joint Unit concurrently released a General Trade License for the sanctions, which carve out exclusions until March 28. Such exclusions include the provision of insurance services for aviation and space goods where providers didn't reinsure any of their obligations to provide the services before March 8.

The U.K. and the EU added another wave of individuals to their Russia sanctions regime following the invasion of Ukraine. The U.K.'s newest additions include Roman Abramovich, owner of Chelsea Football Club, who has announced his intentions to sell the club. Abramovich was listed as a "prominent Russian businessman" due to his stewardship of the popular club, and a stakeholder in Evraz and Norilsk Nickel and as a "pro-Kremlin oligarch." The U.K. Office of Financial Sanctions Implementation further explained that Abramovich has a close relationship with Russian President Vladimir Putin and that this relationship has enabled Abramovich to reap financial benefits from the Russian government.

A group of countries aligned with the EU's Feb. 21 decision to add two individuals and two entities to its ISIL (Da'esh) and al-Qaida sanctions regime, the European Council said. The countries of North Macedonia, Montenegro, Serbia, Albania, Bosnia and Herzegovina, Iceland, Liechtenstein, Ukraine, Moldova, Armenia and Georgia aligned with the decision.

The Office of Foreign Assets Control announced sanctions on 26 Russian individuals and seven entities connected with cyber attacks and election interference in the U.S. OFAC determined that the property and interests in property subject to U.S. jurisdiction of the designated persons and entities are blocked.

The Office of Foreign Assets Control announced sanctions on eight Russian individuals, six entities, one water vessel and one aircraft. OFAC determined that the property and interests in property subject to U.S. jurisdiction of the designated persons and entities are blocked. The sanctions were pursuant to Executive Order 14024, which targets members of the Russian government, technology sector, and their families and businesses.

Germany is resisting efforts to add Sberbank PJSC to the list of Russian banks barred from using SWIFT, the interbank messaging service, according to diplomats close to the matter, Bloomberg reported March 9. Sberbank was named on the initial list of banks being dropped from SWIFT and holds nearly half of Russian retail deposits. Documents revealed that in recent diplomatic meetings, Germany has repeatedly urged caution over further restrictions on Russia, particularly calling for caution on energy-related restrictions, Bloomberg reported. Gazprombank is another bank that's so far been spared from being removed from SWIFT, the report said.