Senate Republicans said this week they would not sign off on an upcoming U.S.-Iran nuclear agreement (see 2203070008) they say will “weaken” U.S. sanctions and lessen restrictions on the country’s nuclear program. The senators are concerned about reports the administration will soon conclude a deal with Iran to “provide substantial sanctions relief in exchange for merely short-term limitations on Iran’s nuclear program,” the lawmakers said in a March 14 joint statement.
A group of countries has aligned their policies with recent EU sanctions decision on Russia and Belarus in response to their invasion of Ukraine, the European Council said in a pair of announcements. The countries of North Macedonia, Montenegro, Serbia, Albania, Bosnia and Herzegovina, Iceland, Liechtenstein, Norway and Ukraine brought their sanctions regimes in line with the EU's following the EU's sanctions decisions on March 2 and 3. Those moves added more individuals and entities to the Belarus sanctions regime (see 2203030013).
Italy seized a $580 million superyacht owned by Russian oligarch Andrey Melnichenko, Italian Prime Minister Mario Draghi's office announced, Bloomberg reported. The ship was nabbed in the port of Trieste in Northern Italy. Melnichenko was sanctioned by the EU following Russia's invasion of Ukraine due to his status as a prominent Russian businessman involved in economic sectors that provide a substantial source of revenue to the Russian government. Melnichenko founded fertilizer and agricultural products manufacturer EuroChem and coal company Suek. After the sanctions were imposed March 9, he left his board positions at both companies, Bloomberg reported.
Israel’s foreign minister said the country will not help Russia evade Western sanctions, according to a March 14 Washington Post report. Some Russian oligarchs had considered traveling to Israel to use it as a “haven for sanctions evasion,” the report said, such as Roman Abramovich, sanctioned by the U.K. earlier this month (see 2203100021). But Israeli Foreign Minister Yair Lapid said March 14 “Israel will not be a route to bypass sanctions imposed on Russia by the United States and other Western countries.”
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 Bureau of Industry and Security recently launched a landing page for its export control actions against Russia, including relevant fact sheets and guidance. The page also includes agency contact information for industry, a link to request a formal advisory opinion and a list of related regulations and "legal resources." BIS warned that it has imposed controls on a "range of items" subject to the Export Administration Regulations that didn't "previously require export licenses when destined for Russia" and plans to update the page as more restrictions are announced.
Ahead of a meeting with Chinese officials, U.S. national security adviser Jake Sullivan publicly warned China that it will face severe penalties if it helps Russia evade Western sanctions. The Biden administration is “watching closely” to see whether Beijing provides Moscow with “material support or economic support,” Sullivan told CNN March 13, which could give Russia an economic lifeline as it faces crippling financial restrictions from Europe, the U.S. and many of its trading partners.
A group of countries aligned themselves with the EU's recent sanctions action taken against Belarus for its role in the Russian invasion of Ukraine, the European Council said March 11. On Feb. 24, the council extended the sanctions on Belarus for another year, until Feb. 28, 2023, and amended the statements of reasons for "27 natural and 7 legal persons" subject to the sanctions. North Macedonia, Montenegro, Albania, Bosnia and Herzegovina, Iceland, Liechtenstein and Norway will ensure that their national policies conform with the EU's decision.
The U.K.'s Office of Financial Sanctions Implementation added a blog post titled "Russia: What has changed and what do I need to do?" The post lays out recent changes to the Russia sanctions regime following its invasion of Ukraine, noting the points of contact for licensing and reporting purposes. The blog post includes brief summaries of U.K. sanctions action and what to do regarding asset freezes, sectoral measures, licensing, crypto assets, OFSI reporting and the Economic Crime Bill.
Japan added three Belarusian banks to its list of sanctioned parties in response to Belarus' role in the Russian invasion of Ukraine, the Ministry of Foreign Affairs announced March 11, according to an unofficial translation. Belagroprombank, Bank Dabrabyt and the Development Bank of the Republic of Belarus are now subjected to an asset freeze by Japan. The measures will come into effect on April 10.