Instead of prematurely lifting sanctions against Russia, the U.S. should look to close sanctions loopholes, double down on enforcement and continue coordinating the restrictions with allies, Charles Lichfield, deputy director of the Atlantic Council’s GeoEconomics Center, said in an analysis published by the think tank this week.
The U.K. removed one entry from its Russia sanctions list on Feb. 26, the Office of Financial Sanctions Implementation said in a notice. Francois Mauron, a Swiss national, was removed after originally being sanctioned for working as a director for an entity conducting business in the Russian energy sector.
Australia this week issued another round of Russia-related sanctions, following similar moves by the EU, the U.K. and Canada to mark three years since Russia’s invasion of Ukraine.
The U.K. has seen a steady uptick in the number of new criminal investigations on sanctions and export control violations over the last three years, with most having a Russia connection, the country’s trade enforcement agency said. The agency during that time has worked to strengthen its “capabilities for detecting and responding to sanctions breaches,” including by hiring 40 more criminal investigators and devoting more funding toward gathering “intelligence” on industry’s sanctions compliance efforts.
The U.K. updated its Russia-related export control and sanctions guidance this week to provide more information on license requirements for common high-priority list items destined for Russia.
Canada issued a new round of Russia-related sanctions this week, designating 76 people and entities that are either supporting Russia's military industrial base, are members of the Russian government or have other ties to the country’s war against Ukraine. The sanctions, announced by Prime Minister Justin Trudeau’s office and detailed by Global Affairs Canada, also target 109 vessels that have moved “hydrocarbons” and other goods to earn revenue for Russia’s military and 92 oil tankers transferring Russian oil to third countries.
The EU unveiled its latest Russia sanctions package this week, including an import ban on primary aluminum; new export controls on dual-use items used by Russia’s military; more restrictions against Russia's energy sector; new sanctions against companies, people and vessels helping Moscow evade trade restrictions; and more.
Senate Banking Committee ranking member Elizabeth Warren, D-Mass., urged her fellow lawmakers Feb. 24 to oppose attempts to unwind measures that are designed to pressure Russia to seek peace with Ukraine. Following Russia’s February 2022 invasion of Ukraine, the U.S. imposed sanctions and export controls on Russia and provided arms to Ukraine, noted Warren, who said in a statement that she’s concerned President Donald Trump will make unwarranted concessions to Russian President Vladimir Putin in a bid to end the war. Instead of easing up on Moscow, the Trump administration should be heading off Russia’s attempts to evade U.S. sanctions with the help of China, Iran and North Korea, she said.
The U.K. added 34 people and 33 entries to its Russia sanctions list on Feb. 24, the Office of Financial Sanctions Implementation announced. In addition to listing Russian companies, OFSI sanctioned companies based in Hong Kong, China, Germany, Thailand, India, Ukraine, Turkey, the United Arab Emirates and Kyrgyzstan for contributing to Russia's economy or war effort, along with businesspeople and military figures from Russia, Turkey, Kazakhstan, North Korea and Israel for contributing to the destabilization of Ukraine or operating in a sector of strategic significance to Russia.
A new White House memo on President Donald Trump’s “America-first investment policy” previews efforts to expand both inbound and outbound foreign investment restrictions, tamp down on the use of mitigation agreements, fast-track investment deals from certain allies and more.