Sanctions tracker – EU update on Russian oil price cap and eighth sanctions package

Earlier this month, the G7 announced a plan to impose a cap on the price importers pay for Russian oil (see our previous blogpost for further detail).  On 28 September, President von der Leyen made a statement regarding the EU’s intended implementation of this plan, as part of an eighth sanctions package in response to the escalation of the … Read more

President Biden’s Executive Order Tightens CFIUS Scrutiny of Foreign Investments In Key US Sectors

As US toughens CFIUS oversight of foreign investments in sensitive sectors of the economy, we assess the key factors in play President Biden recently issued an Executive Order on Ensuring Robust Consideration of Evolving National Security Risks by the Committee on Foreign Investment in the United States (the Foreign Investment EO). It directs increased scrutiny by the Committee … Read more

U.S. Treasury Issues New Guidance on Russian Oil Price Cap

Our previous blog post discussed the G-7’s recent proposal to impose a price cap on Russian oil in an effort to diminish the energy revenues of the Russian state. In this post, we examine the new guidance issued by the U.S. Department of the Treasury (“Treasury”), Office of Foreign Assets Control (“OFAC”) establishing a framework … Read more

US Senate Calls for Designation of Russia as a “State Sponsor of Terrorism”

On July 27, 2022, the US Senate unanimously passed a nonbinding, bipartisan resolution to designate the Russian Federation as a “State Sponsor of Terrorism” (SST).  In parallel, a bipartisan group of members of the US House of Representatives introduced a bill on July 28, 2022 to designate Russia as an SST.  See H.R.8568.  These actions … Read more

Sanctions Tracker – Further U.S. Responses to the Crisis in Ukraine

The U.S. government has continued to impose additional Russia-related sanctions measures in response to Russia’s invasion of Ukraine. We previously discussed Russia-related sanctions and export control measures imposed by the U.S. on July 7, July 6, June 13, and in earlier posts. In the U.S. Department of the Treasury’s Office of Foreign Assets Control’s (“OFAC”) … Read more

Sanctions Tracker – Further U.S. Responses to the Crisis in Ukraine

This post provides an update regarding further Russia-related sanctions measures in the United States. New General Licenses On June 28, 2022, the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) issued several new General Licenses (“GLs”): GL 39 authorizes certain transactions ordinarily incident and necessary to the wind down of any transaction … Read more