The US Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) recently issued 4 general licenses suspending certain sanctions in relation to transactions involving oil, gas, and gold in Venezuela.
Circular 08/23: EU Sanctions against Russia
04/07/2023
On 23 June 2023 the EU Council adopted the 11th package of economic sanctions against Russia to prevent their circumvention and further erode Russia’s revenues.
On 25 February 2023, the EU adopted its 10th package of sanctions against Russia
Circular 17/22: The Price Cap on Russian Oil
09/12/2022
The EU, G7 and Australia (the “Price Cap Coalition”) has recently introduced legislation and guidance effective 5 December 2022 intended to maintain the supply of Russian oil to world markets whilst at the same time reducing Russia’s earnings from its oil exports (the “Price Cap Scheme”).
Circular 11/22: 8th EU Sanctions Package
11/10/2022
The EU adopted an eighth package of sanctions on 6 October 2022 in response to Russia’s continued military aggression against Ukraine.
[AMENDED 22 JULY] On 21 July 2022 the European Union published a Maintenance and Alignment Package
On 8 April 2022 the EU adopted a fifth package of sanctions on Russia, comprising of several Regulations and Decisions
U.S. sanctions update
25/06/2020
During the last few weeks, U.S. authorities have increased their focus on international shipping in a recent escalation of sanctions.
The week of June 1, 2020, sees additional steps in the sanctions targeting Venezuela and Iran
08/06/2020
Last week saw significant developments in the U.S. sanctions programs targeting Venezuela and Iran.
The Joint Plan of Action ("JPoA") agreed by the P5+1 and Iran, which brought limited sanctions relief, is set to expire today, 30th June 2015. While there has been no official world, recent developments suggest that it is highly unlikely that a final agreement on a nuclear deal with Iran will be reached by tomorrow.