Trade and Manufacturing Monitor
OFAC Enhances Sanctions on Russia and Its Procurement Networks Abroad
On November 2, 2023, the Treasury Department’s Office of Foreign Assets Control (“OFAC”) unveiled new sanctions targeting Russia’s energy production, metals and mining, and defense procurement sectors. OFAC also…
European Union Adopts 11th Round of Sanctions Against Russia
On June 23, 2023, the EU adopted its latest round of Russia sanctions. The new regulations have a focus on combatting circumvention and evasion, following suit with similar measures adopted by the United States last…
Anniversary Round of U.S. Sanctions, Export Controls Impose and Enhance Restrictions Against Financial and Material Support for Russia’s War Efforts
Last Friday, on the anniversary of the Ukraine invasion, the U.S. Treasury Department’s Office of Foreign Assets Control (“OFAC”) took significant action by imposing sanctions against the Russian economy, targeting…
OFAC Sanctions Potanin, Interros, and Rosbank; but Norilsk Nickel is Excluded
Today, the Office of Foreign Assets Control (“OFAC”) added Russian oligarch Vladimir Potanin along with several of his companies to the Specially Designated Nationals (“SDN”) List. OFAC’s action specifically targets…
European Union Adopts Eighth Package of Sanctions Against Russia
Yesterday, the European Union implemented its eighth round of sanctions on Russia in response to Russia’s claimed annexation of Ukrainian territory. This latest package includes expanded import and export restrictions,…