If Europe is unable to impose a complete embargo on Russian energy imports, it should at least consider an import tax to begin reducing European demand for Russian oil, said Andreas Goldthau, an energy policy expert and professor at the University of Erfurt. Goldthau, speaking during an April 14 event hosted by the Washington International Trade Association, said revenue from the tariffs could also help the EU source and distribute gas from other suppliers.
Three Russian citizens -- legislator Aleksandr Babakov and two staff members, Aleksandr Vorobev and Mikhail Plisyuk -- were charged with conspiring to use a Russian agent in the U.S. without proper notification, violate U.S. sanctions and commit visa fraud, DOJ announced. The indictment is cited as being the work of Task Force KleptoCapture -- the U.S.'s interagency task force charged with enforcing recent sanctions action following Russia's invasion of Ukraine.
In a series of sanctions moves, the U.K. corrected three entries under its ISIL (Da'esh) and al-Qaida sanctions regime and added two entries to its Russia sanctions list. Added to the Russia sanctions -- in response to its invasion of Ukraine -- by the U.K.'s Office of Financial Sanctions Implementation are Eugene Tenenbaum and David Davidovich, two associates of sanctioned businessman Roman Abramovich. In the ISIL notice, OFSI amended the entry for Ashraf Al-Qizani and corrected the entries for Mehrez Ben Mahmoud Ben Sassi Al-Amdouni, Mokhtar Belmokhtar and Ramzi Mohamed Abdullah Binalshibh.
Russia announced counter sanctions on U.S. and Canadian senators in a pair of notices from the Ministry of Foreign Affairs. The restrictions on U.S. legislators apply to 398 individuals and cover a vast majority of the members of the U.S. House of Representatives. The sanctions on Canada cover 87 Canadian senators, barring them from entering Russia.
The U.K. on April 14 announced a new wave of sectoral sanctions on Russia following its invasion of Ukraine. The restrictions include a ban on the export of luxury goods to Russia, a prohibition on the import of iron and steel goods that are consigned from or originate in Russia and a ban on the direct or indirect acquisition of iron and steel products from Russia or located in Russia. As part of the luxury goods ban, the restrictions prohibit the supply or delivery of luxury goods from a third country to a place in Russia, the making of luxury goods available to a person connected with Russia and the making of luxury goods available for use in Russia.
The Financial Crimes Enforcement Network issued an advisory April 14 urging banks and other financial institutions to focus on catching illegal transactions related to kleptocracy and corruption. The advisory outlines various “typologies and potential indicators” of kleptocracy and other forms of foreign corruption, including bribery, embezzlement, extortion and the “misappropriation of public assets.” The advisory said banks should specifically scrutinize Russia-related transactions for “sanctions evasion” attempts. It also outlines suspicious-activity report filing requirements for transactions that banks may suspect of violating sanctions.
Ericsson will record “extraordinary costs” of about 900 million Swedish krona ($94.3 million) from its decision to suspend its “effective business in Russia indefinitely,” CEO Borje Ekholm” said on a Q1 earnings call April 14. When Russia invaded Ukraine Feb. 24, “we realized that our business in Russia could not be sustained, and we suspended all deliveries to Russia already at that point in time,” he said. When the exemption for public telecom networks was removed from the EU’s Russia sanctions on April 10, Ericsson immediately suspended its Russia operations, he said.
The Swiss Federal Council adopted the EU's fifth sanctions package on Russia and Belarus following their invasion of Ukraine, the council said in an April 13 news release. Restrictions include a ban on coal imports and other Russian goods such as wood, seafood and vodka; an export ban on kerosene and other goods; and a ban on Russian companies from participating in public procurement. The sanctions also included a ban on Russian and Belarusian road transport from taking place within the EU. However, Switzerland neglected to impose this restriction, which it said is unnecessary, given its geographic location.
The U.K. revoked the General License for GEFCO under the Russian sanctions regime following the sale of Russian Railways' position in GEFCO, a joint venture between Russian Railways and Stellantis. The license permitted business operations with the joint venture or its subsidiaries, but after Russian Railways' sale of its stake on April 8, GEFCO is no longer subject to U.K. sanctions. Also on April 8, French shipping group CMA CGM announced it had acquired nearly 100% of GEFCO, an auto transport company.
Andrew Adams, head of DOJ's "KleptoCapture" task force, charged with enforcing the deluge of Russia sanctions following the invasion of Ukraine, is targeting the personal assets of Vladimir Putin and his family, Adams told Bloomberg. Adams said this can be done by targeting individuals who have agreed to hold assets on his behalf.