The European Council on May 21 adopted legal measures to allow profits earned on seized Russian assets to be used to support Ukraine, the council announced May 21. The decision applies specifically to net profits from "unexpected and extraordinary revenues accruing to central securities depositories" as a result of EU sanctions on Russia.
Secretary of State Antony Blinken on May 21 defended the U.S. government's use of sanctions against China, saying the Biden administration resorts to punitive measures only when diplomatic efforts fail to achieve the desired result.
A Virginia-based technology company said it received warning letters from both the Bureau of Industry and Security and the Office of Foreign Assets Control after disclosing possible Russia-related sanctions violations to both agencies last year.
The EU General Court on May 15 rejected the Russian Direct Investment Fund's (RDIF's) challenge to the bloc's prohibition on investing in projects financed by the fund.
The U.K. on May 17 sanctioned people and companies for their ties to Russia and North Korea, including for helping both countries evade sanctions.
Australia last week sanctioned six entities that it said have ties to North Korea’s supply of weapons and military items to Russia. “Australia condemns, in the strongest possible terms, North Korea’s illegal export and Russia’s procurement and use of North Korean ballistic missiles, in support of Russia’s full-scale war against Ukraine,” the country said in a May 17 notice. The notice didn’t list the designated entities.
The U.K. on May 16 renewed a general license under its Russian sanctions regime that allows British citizens to buy tickets from a sanctioned party for "flights or rail journeys originating in, or within, Russia." It also authorizes activities "reasonably necessary to effect the purchase of such tickets for flights or rail journeys." The license was scheduled to expire May 23 and now runs until May 23, 2026.
The House Foreign Affairs Committee on May 16 approved several bills that could impose sanctions on China, Russia and the Houthis and tighten export controls on China.
The Office of Foreign Assets Control this week sanctioned two people and three entities in Russia for helping to transfer weapons and other military items from North Korea, including shipments of mortars, military communications equipment and aviation parts.
The Office of Foreign Assets Control this week sanctioned two people and three entities in Russia for helping to transfer weapons and other military items from North Korea, including shipments of mortars, military communications equipment and aviation parts.