The England and Wales High Court adjourned a trial involving Russian oligarch Oleg Deripaska, only recently releasing the May 6 judgment publicly. Deripaska was sanctioned by many of the world's leading economies in response to Russia's invasion of Ukraine. As a result, the defendant cannot pay his lawyers for legal representation in the present case, so the legal team is "coming off the record." The lawyers applied to adjourn to avoid an unfair trial. In vacating the case, Justice Sara Cockerill ruled she is "satisfied in this significant hard-fought and complex case a fair trial would not be possible -- however dim a view one takes of Mr Deripaska's past actions." The case involves a long-running dispute over alleged breaches by Deripaska, with Navigator Equities obtaining an arbitral award against the oligarch.
The Office of Foreign Assets Control has issued one new and three updated general licenses related to Russia alongside an update to OFAC's Frequently Asked Questions and a Food Security Fact Sheet, according to a July 14 notice.
The U.K. amended entries under its Russia and Belarus sanctions regime, the Office of Financial Sanctions Implementation said in a pair of notices July 12. Under the Russia sanction list, OFSI amended 16 entries and corrected those for Vadim Anatolyevich Lukashevich and German Valentinovich Belous.
The Office of Foreign Assets Control this week released the texts of two previously issued Ukraine/Russia-related General Licenses. The licenses are GLs 2 and 10, which expired in 2014 and 2016, respectively. The licenses authorized certain wind-down transactions or divestments involving sanctioned Russian entities.
Customers and borrowers of financial institutions may start to receive more requests from banks about their export control compliance practices due to a recently issued joint alert by the Treasury and Commerce departments, Crowell & Moring said July 13. The alert also has other implications for customers of certain financial institutions, the firm said, and could hurt their ability to receive lenient penalties from a voluntary disclosure.
The EU is ramping up efforts to monitor Russia-related export control evasion and hopes to soon make more progress on sanctions enforcement within the U.S.-EU Trade and Technology Council, said Sabine Weyand, the European Commission’s director general for trade, speaking during a July 13 event hosted by the Center for Strategic and International Studies. She expects EU enforcement to soon pick up because many of the bloc’s wind-down periods for the restrictions are ending.
Lithuania has halted the transport of more goods to Kaliningrad as more EU restrictions on Russia over its invasion of Ukraine take effect, Reuters reported. Lithuania banned the transit of concrete, wood, alcohol and alcohol-based industrial chemicals via its territory to the Baltic exclave of Kaliningrad, which includes a seaport, a spokesperson for Lithuanian customs said, Reuters reported. The ban also includes an expansion of the restrictions on ferrous metals, which began in June. Russia called the ban on some goods an illegal blockade, while Lithuania said it has no choice but to enforce the EU's sanctions. Russia warned of "harsh measures" that could be imposed in response to Lithuania's move.
The European Commission on July 8 updated its Russia sanctions frequently asked questions, releasing new guidance. The deposits FAQs include how to make an authorization under the sanctions list, formal requirements on how the authorization should be designed, and what information should be obtained by the national authority for assessments made under the sanctions regime. The trust services FAQs cover the definition for the term "trust or any similar legal arrangement," what activities are banned in relation to trusts, how the ban is applied in practice, and more.
The U.S. will ramp up sanctions pressure against Iran if it doesn’t return to the Joint Comprehensive Plan of Action, said Jake Sullivan, President Joe Biden’s national security adviser. Sullivan also said Iran is preparing to send weapons technology to Russia in violation of international export controls.
Canada on July 9 announced more sanctions against Russia due to its war in Ukraine, including new restrictions on Russia’s oil, gas and chemical sectors. Canada will ban Canadians from providing certain services that contribute to the “production of goods made by these sectors,” the country said, including restrictions on land and pipeline transport services and activities relating to the manufacturing of metals, transport, computer, electronic and electrical equipment. Canadian companies will have 60 days from the day the sanctions take effect to end contracts with the affected Russian industries.