The U.K. added a general license under its Russia and Belarus sanctions regime allowing legal service providers to receive and send payments to and from or on behalf of a sanctioned party. Sanctioned parties are likewise allowed to "pay professional legal fees, Counsel's fees, and/or Expenses to a Law Firm, a Legal Adviser, Counsel or a provider of Expenses for Legal Services which have been provided to that" sanctioned party. The legal fees may not exceed 1 million British pounds "per Law Firm" for the duration of the license, which ends Oct. 28.
Sens. Elizabeth Warren, D-Mass., and Roger Marshall, R-Kan., urged the Biden administration April 29 to counter Russia’s use of cryptocurrency to evade U.S. financial sanctions and buy high-tech weaponry for its war against Ukraine.
The U.K. customs agency announced seven settlements with companies for their breaches of sanctions on Russia and export controls, including one exceeding $1.3 million with an unnamed exporter and related to the "export of goods in breach of" the sanctions on Russia.
Treasury Secretary Janet Yellen, in an interview with Reuters, said that while in her view, outright seizure of frozen Russian assets in the U.S. and Europe is justifiable, that's not the only option to put those assets to use to help Ukraine's economy survive the Russian invasion.
The Office of Foreign Assets Control is sanctioning 16 entities, eight people, five vessels and one aircraft for their involvement in the Iranian military’s drone trade, the agency announced April 25.
Russia is still able to buy semiconductors for its war effort -- especially from China -- despite Western sanctions and export controls, a semiconductor policy researcher said in a new report this month. Although the restrictions are forcing Russia to pay almost double for some chips and require Russian supply chain managers to constantly find new supply lines, the report said Chinese suppliers are increasingly filling the market gap left by companies in the U.S. and elsewhere who are adhering to the export restrictions.
The Dutch Supreme Court on April 24 said it will refer two preliminary questions to the European Court of Justice concerning the effect of EU Russia sanctions on sanctioned parties' shareholder voting rights, according to an unofficial translation.
President Joe Biden signed into law April 24 a wide-ranging national security bill that will, among other things, ban TikTok in the U.S. if China’s ByteDance doesn't sell the popular social media application to an entity that isn’t controlled by a foreign adversary (see 2404220041 and 2404180020).
Principal Deputy National Security Adviser Jon Finer highlighted U.S. and European cooperation on sanctions and export controls while speaking at the Transatlantic Business Summit hosted by the U.S. Chamber of Commerce and BusinessEurope, and said their governments are working on more ways to punish Russia for its aggression against Ukraine.
The EU General Court last week rejected a challenge from Belgium and Czech Republic-based company Cogebi to EU import restrictions on Russian-made mica products. The court said that the European Council had laid out sufficient reasons for barring the import of mica products in that the council appropriately found the sale of mica products to "generate significant revenues for the Russian Federation."