Baker McKenzie’s Sanctions Blog published the alert titled EU significantly expands sanctions against Belarus on 6 March 2022. Read the article via the link here. Please also visit our Sanctions Blog for the most recent updates.

Baker McKenzie’s Sanctions Blog published the alert titled “UK introduces general licence for wind-down of positions involving VTB Bank” on 26 February 2022. Read the article via the link here. Please also visit our Sanctions Blog for the most recent updates.

Baker McKenzie’s Sanctions Blog published the alert titled “EU agrees on second wave of significant sanctions against Russia” on 27 February 2022. Read the article via the link here. Please also visit our Sanctions Blog for the most recent updates.

Baker McKenzie’s Sanctions Blog published the alert titled “UK designates three Russian banks” on 28 February 2022. Read the article via the link here. Please also visit our Sanctions Blog for the most recent updates.

Baker McKenzie’s Sanctions Blog published the alert titled “UK suspends existing (and approval of new) export licences for dual-use items to Russia” on 28 February 2022. Read the article via the link here. Please also visit our Sanctions Blog for the most recent updates.

Baker McKenzie’s Sanctions Blog published the alert titled “UK introduces new financial. trade and shipping sanctions against Russia” on 2 March 2022. Read the article via the link here. Please also visit our Sanctions Blog for the most recent updates.

On 23 February 2022, the Council adopted a package of measures to respond to Russia’s decision to recognize the non-government controlled areas of the Donetsk and Luhansk oblasts of Ukraine as independent entities, and the subsequent decision to send Russian troops into these areas.

On February 21, 2022, the White House issued a new Executive Order that imposes comprehensive sanctions on the so-called Donetsk People’s Republic (“DNR”) and Luhansk People’s Republic (“LNR”) regions of Ukraine. Concurrently with the issuance of the Executive Order, the US Treasury Department’s Office of Foreign Assets Control published six general licenses authorizing certain transactions involving the targeted regions. These sanctions were imposed in response to the Russian Government’s decision to recognize the DNR and LNR as independent from Ukraine on the same day.

On 21 February, the UK Office of Financial Sanctions Implementation (“OFSI“), announced that it had issued a monetary penalty totaling GBP 36,393.45 to Clear Junction Limited, a provider of payment services. This penalty follows (and is associated with) OFSI’s earlier GBP 50,000 penalty against TransferGo, announced in August 2021.

The UK Government has today designated five Russian banks and three individuals in response to the Russian Government’s decision to recognise the independence of the parts of the Donetsk and Luhansk regions which are outside of Ukraine’s control.