Baker McKenzie’s Sanctions Blog published the alert titled OFAC Issues Russian Crude Oil-related Determination, Guidance on Implementation of the Price Cap Policy for Russian Crude Oil, and Russia-related General Licenses on 2 December 2022. Read the article via the link here. Please also visit our Sanctions Blog for the most recent updates.
On November 26, 2022, the US Department of the Treasury’s Office of Foreign Assets Controls issued General License 41 authorizing Chevron Corporation to resume limited oil extraction operations in Venezuela and accompanying FAQs. According to the accompanying press release, OFAC issued GL 41 after Unitary Platform and President Maduro’s regime announced the resumption of negotiations; a humanitarian agreement focused on education, health, food security, flood response, and electricity programs that will benefit the Venezuelan people; and agreement on the continuation of talks focused on the 2024 elections. OFAC also issued an updated General License 8K extending certain limited wind-down activities with Petróleos de Venezuela SA until 25 May 2023.
The EU Council has unanimously decided to add the violation of restrictive measures to the list of ‘EU crimes’. Currently Member States have different definitions of what constitutes a violation of EU sanctions and what penalties should be applied in the event of a violation. In a related development, the Justice ministers of France and Germany have jointly published an article which argues that the European Public Prosecutor’s Office should be given the competence to prosecute and punish violations of EU sanctions.
On 28 November 2022, the EU published legislation which allows for restrictive measures against gang leaders in Haiti and their financiers. So far, only one person has been designated. This is the first time that the EU has imposed sanctions against Haiti.
Baker McKenzie’s Sanctions Blog published the alert titled Switzerland implements eighth EU sanctions package and adds UK to certain carve-outs on 28 November 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 OFAC extends and reissues General License authorizing certain transactions involving the Central Bank of Russia, the National Wealth Fund of the Russian Federation, or the Ministry of Finance of the Russian Federation on 22 November 2022. Read the article via the link here. Please also visit our Sanctions Blog for the most recent updates.
On 19 November 2022, Canada announced amendments to the Special Economic Measures (Haiti) Regulations in response to the “egregious conduct of Haitian political elites who provide illicit financial and operational support to armed gangs”. These amendments list an additional three individuals under the Schedule of the Regulations and took effect on 17 November 2022.
Baker McKenzie’s Sanctions Blog published the alert titled Canada imposes additional sanctions on Belarusian regime: 22 individuals and 16 entities targeted on 22 November 2022. Read the article via the link here. Please also visit our Sanctions Blog for the most recent updates.
Welcome to our Virtual Year-End Review of Import/Export and Trade Compliance Developments Conference resource center. Baker McKenzie’s international trade compliance lawyers from around the world discussed the major global legislative, judicial and administrative activities and trends in export controls, trade sanctions, customs compliance, and import requirements in nine 75 minute sessions which took place from 15 to 17 November 2022.
On 16 November 2022, Canada announced further amendments to the Special Economic Measures (Iran) Regulations in response to the Iranian regime’s “ongoing gross and systematic human rights violations and continued actions to destabilize peace and security”. These amendments list an additional six individuals and two entities under Schedule 1 of the Regulations and took effect on 10 November 2022.