The Office of Foreign Assets Control amended and reissued its Ukraine-related sanctions regulations, the agency said in a final rule. The action will replace the regulations first published on May 8, 2014, with a more “comprehensive” set of regulations, which includes more information on general licenses and other “regulatory provisions that will provide further guidance to the public," OFAC said. The rule, effective May 2, also changes the title of the regulations to the Ukraine-/Russia-Related Sanctions Regulations and incorporates four directives related to sectoral sanctions, among other revisions. OFAC also revised several frequently asked questions for the regulations.
Canada last week imposed another set of sanctions against Russia for its war in Ukraine, targeting an additional 11 senior government officials and 192 members of the "People’s Councils of the so-called Luhansk and Donetsk People’s Republics." Canada said it will continue to work with allies to hold Russian President Vladimir Putin “accountable” and “will not stop putting pressure on the regime.”
The State Department is “finalizing” discussions with several trading partners on its new open general license concept for certain defense exports, senior agency official Mike Miller. The concept, which could begin as a pilot program, would allow U.S. exports to certain U.S. trading partners without having to apply for a specific license (see 2109290056).
The U.K. issued a General License under its Russia sanctions regime, permitting various law enforcement and regulatory authorities to carry out "any action necessary to comply with" orders made by various U.K. courts, forfeiture notices or external order from the secretary of state. The license permits an individual to carry out any action needed to comply with certain asset recovery developments, including a negotiated settlement with a regulatory agency or an approved deferred prosecution agreement to which a regulatory agency is a party.
The House on April 27 overwhelmingly passed a bill, by a 424-2 vote, that would clarify U.S. sanctions policy on Iranian efforts to acquire unmanned drones. The bipartisan Stop Iranian Drones Act (see 2112010019) would authorize U.S. sanctions under the Countering America’s Adversaries Through Sanctions Act against anyone who helps Iran acquire unmanned drones or "combat aircraft," including their “commercially available component parts.”
The Biden administration needs to conduct a full review of its current sanctions against Iran before lifting any of the designations as part of a potential nuclear deal, said Rep. Michael McCaul of Texas, the top Republican on the House Foreign Affairs Committee. McCaul pointed to the requirements under the Countering America’s Adversaries Through Sanctions Act, which states the administration must conduct the sanctions review before Aug. 2.
Among the 28 motions to instruct for China package negotiations that will be considered next Tuesday and Wednesday in the Senate, two are on sanctions, and one requires that business funding programs document that technology developed at the companies receiving grants don't share sensitive technology with China or Russia.
The U.K. amended 195 entries under its Russia sanctions regime, still subjecting the entries to an asset freeze, the Office of Financial Sanctions Implementation announced. It also corrected the listings for Oleg Vladimirovich Onopko and Alexandra Alexandrovna Usacheva. The 195 amended entries were for individuals who were listed under the sanctions regime without any explanation as to their position in Russian society. The amendments add this information, making it clear that the individuals are Russian politicians and members of the military.
President Joe Biden asked Congress this week for stronger authorities to seize the assets of sanctioned Russian oligarchs and investigate and prosecute cases of sanctions evasion. The request was sent April 28 alongside a proposal for an additional $33 billion Ukraine-related aid package, including about $20 billion in additional military aid.
Elizabeth Boison, previously with DOJ's Bank Integrity Unit and National Cryptocurrency Enforcement Team, joined Hogan Lovells as a partner in the Global Regulatory and Intellectual Property, Media and Technology practice group, the firm announced. During her time in government, Boison also worked with the Treasury Department's Financial Crimes Enforcement Network, where she helped craft guidance on the regulatory enforcement of financial crimes, the firm said. At DOJ, Boison focused on sanctions, asset forfeiture, the Foreign Corrupt Practices Act and other fraud-involved proceedings.