The U.K.'s Office of Financial Sanctions Implementation reminded industry this week that the new, lower price cap for Russian oil took effect Sept. 2 (see 2507180017). The new $47.60 cap is down from the previous $60 cap announced about two years ago (see 2212050014). The U.K. added that there is a 45-day wind-down period, ending Oct. 17, for existing contracts to comply with the new cap.
Rep. Joe Wilson, R-S.C., a senior member of the House Foreign Affairs Committee, said Sept. 3 that the U.S. should immediately enforce sanctions on Serbia’s majority-Russian-owned oil company, NIS, to punish Belgrade for its "subservience" to Moscow.
Barloworld, a South Africa-based industrial equipment company, said it may have violated U.S. export controls and has disclosed the issue to the Bureau of Industry and Security.
Kemppi, a Finland-based welding equipment manufacturer, has launched an internal investigation after millions of dollars’ worth of the company’s products were reportedly sold to Russia following Moscow's invasion of Ukraine in early 2022.
An Estonian national was extradited to the U.S. on Aug. 28 to face charges of conspiracy to violate U.S. export controls by sourcing U.S.-made electronics for use by the Russian government and military, the U.S. Attorney's Office for the Eastern District of New York announced. Andrey Shevlyakov faces 18 total counts related to the international procurement scheme.
With Congress returning from its August recess, Senate Foreign Relations Committee ranking member Jeanne Shaheen, D-N.H., urged the Senate on Sept. 2 to take up her bill to impose additional sanctions on China for providing dual-use items to Russia’s war against Ukraine (see 2508020001). Shaheen also reiterated her call for the Senate to vote on a bill by Sens. Lindsey Graham, R-S.C., and Richard Blumenthal, D-Conn., that would impose a wide range of sanctions on Russia and its supporters if Moscow fails to make peace.
The U.K. on Aug. 28 amended the chemical weapons-related sanctions listing for Andrei Marchenko, a member of the Radiological, Chemical and Biological Defence Troops of the Russian Ministry of Defense. The updated entry now includes his middle name, Viktorovich.
House lawmakers have proposed dozens of export control-, sanctions- and foreign investment-related amendments to their chamber’s version of the FY 2026 National Defense Authorization Act (NDAA), including measures aimed at China, Russia and Turkey.
The Office of Foreign Assets Control this week sanctioned two people and two entities for helping North Korea deploy information technology workers at foreign companies to generate revenue for its government.
President Donald Trump threatened to impose export controls on technology and semiconductors if countries have digital policies he dislikes.