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.
Gal Haimovich, an Israeli national and owner of a freight forwarding company, was sentenced last week to two years in prison and three years of supervised release after pleading guilty in September as part of a scheme to illegally ship aircraft parts and avionics from U.S. manufacturers and suppliers to Russia (see 2409110018). DOJ said Haimovich -- who admitted to deceiving U.S. companies about the destination of the goods, some of which were sent to a sanctioned Russian airline Siberian Airlines (see 2412090012 -- also forfeited $2,024,435.44 to the U.S. government.
The U.S. and 10 of its close allies held the first meeting last week of the Multilateral Sanctions Monitoring Team (MSMT) Steering Committee, the group formed last year to report on North Korea-related sanctions violations and evasion. The committee, which also includes Australia, Canada, France, Germany, Italy, Japan, the Netherlands, New Zealand, South Korea and the U.K., was established after Russia vetoed a U.N. Security Council proposal that would have extended the “panel of experts” that had been monitoring U.N. sanctions against North Korea (see 2410170003).
Many opportunities exist to increase the effectiveness of U.S. financial sanctions, researchers said during a Feb. 20 hearing of the congressionally mandated U.S.-China Economic and Security Review Commission.
Any potential U.S.-Russia agreement to end the war in Ukraine will likely take at least a year to come to fruition, researchers and policy experts said, although some U.S. sanctions could be lifted in the meantime.
EU officials have agreed on a new package of sanctions against Russia, European Commissioner Valdis Dombrovskis said Feb. 19. The measures will include more import and export restrictions, “tighter anti-circumvention measures,” and a “stronger crackdown” on Russia’s shadow fleet -- the ships Moscow uses to transport sanctioned goods. “The EU must remain united against the aggressor,” Dombrovskis said on social media platform X.