The Senate is getting closer to formally considering a bill that would impose a wide range of sanctions on Russia and its supporters if Moscow refuses to reach a peace deal with Ukraine, Sen. Lindsey Graham, R-S.C., said June 17.
The Council of the European Union on June 16 renewed the sanctions on Russia imposed in response to Russia's illegal annexation of Crimea and the city of Sevastopol, until June 23, 2026. The restrictions were initially imposed in 2014 and include a ban on the import of products originating from Crimea or Sevastopol and infrastructural or financial investments and tourism services from these areas. In addition, EU parties can't export certain goods to Crimean companies for use in Crimea in the transport, telecommunications and energy sectors or for the exploration and production of oil, gas and mineral resources.
The U.K. on June 17 added four people, six entities and 20 shadow fleet ships to its Russia sanctions regime.
Despite the Trump administration easing certain sanctions against Syria, companies should still be carrying out careful due diligence and should be aware of other legal risks they could face before doing any business in the country, industry advisers said this week.
Australia's Sanctions Office this month issued new and updated "guidance notes" about various sanctions laws, including information about compliance obligations for Australian people and entities. The new documents cover sanctions involving advanced technologies, the financial sector, employment, the ocean shipping industry, Russia-related restrictions, and more.
The U.K. on June 13 removed one entry from its Russia sanctions regime. The Office of Financial Sanctions Implementation delisted Aleksey Leonidovich Fisun, a member of the Supervisory Board Sovcombank, from the Russia restrictions.
The Bureau of Industry and Security, which is seeking a major budget increase in FY 2026 (see 2505020030), would use the funding boost to add hundreds of employees to enhance its compliance and enforcement capabilities, agency head Jeffrey Kessler said June 12.
The Office of Foreign Assets Control this week fined California-based venture capital firm GVA Capital more than $215 million for allegedly violating U.S. sanctions against Russia and for failing to comply with an OFAC subpoena. The firm knowingly managed an investment for sanctioned Russian oligarch Suleiman Kerimov, OFAC said.
DOJ announced last week that it opened a civil forfeiture action in the U.S. District Court for the District of Columbia against more than $7.74 million allegedly laundered on behalf of the North Korean government. The funds were initially "restrained" as part of an indictment against North Korean banker Sim Hyon Sop, who was allegedly conspiring with North Korean information technology workers who illegally "amassed millions in cryptocurrency" as a means of evading sanctions on North Korea, DOJ said.
As lawmakers consider imposing new sanctions on Russia, they should ensure they don’t hinder the Trump administration’s ability to negotiate a deal to end the Russia-Ukraine war, Treasury Secretary Scott Bessent said June 11.