The EU General Court on Feb. 26 rejected the sanctions delisting application of Aleksandra Melnichenko, wife of sanctioned Russian billionaire Andrey Melnichenko.
The U.K. corrected one entry on its Russia sanctions list and amended one entry on its Global Anti-Corruption sanctions list, the Office of Financial Sanctions Implementation said. Under Russia, OFSI corrected the listing for OJSC Keremet Bank, changing the ZIP code for the bank in Kyrgyzstan. Under the anti-corruption regime, the agency amended the listing for Teodoro Nguema Obiang Mangue to reflect that Mangue was listed for engaging in bribery while serving as vice president of Equatorial Guinea.
The U.K.’s latest package of Russia sanctions (see 2502240056) featured the country’s first use of recently expanded designation powers that have “secondary sanctions-like effects,” Steptoe said in a client alert. The powers -- which allow the U.K. government to designate people and entities for providing financial services, making funds available to or facilitating other activities of certain parties with ties to Russia -- were used to target Kyrgyzstan-based OJSC Keremet Bank, which was accused of providing financial services to people in the Russian financial sector. The designation means U.K. credit and financial institutions are blocked from “establishing or continuing correspondent banking relationships” or processing payments with Keremet.
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.