The Office of Foreign Assets Control said it will not renew the expiring General License 9C, with its authorizations set to end at 12:01 a.m. EDT on May 25. The license allowed transactions necessary to dealings in debt or equity with Bank for Development and Foreign Economic Affairs Vnesheconombank, Bank Otkritie Financial Corporation, Sovcombank Open Joint Stock Company, Sberbank of Russia and VTB Bank (see 2204080046).
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The U.S. and other techno-democracies should capitalize on their closely coordinated Russia sanctions work to create a new multilateral export control group, said two experts with Georgetown University’s Center for Security and Emerging Technology. A new regime, which would include a range of technology-producing nations that share democratic values, would help those countries address technology proliferation issues that existing regimes can not.
The U.K., in sanctions moves announced May 20, dropped three entries from its Iraq sanctions list and corrected two entries under its Global Anti-Corruption sanctions regime. Under Iraq, the Office of Financial Sanctions Implementation delisted individual Khalaf M M Al-Dulaymi and the entities Midco Financial and Montana Management. Under anti-corruption, OFSI updated information on the entries for Dmitry Vladislavovich Klyuev and Jose Francisco Lopez Centeno, still subjecting them to an asset freeze.
The U.K. Financial Conduct Authority called for reports of sanctions evasion or weaknesses in sanctions controls over registered forms or U.K. listed securities. The FCA in a notice updated May 20 asked for information on insufficient sanctions controls, suspected or known breaches of the sanctions regime and any methods thought to be used by individuals or entities to breach the sanctions regime. Submissions can be made via the FCA Whistleblowing team by filing out a reporting form or reviewing Sup 15 for details on how to issue a report.
The Faroe Islands implemented a Russia sanctions framework May 17 after its parliament authorized the government May 6 to implement sanctions on Russia and Belarus in response to their invasion of Ukraine. The Faroe Islands' sanctions will largely follow those of the EU and other nations that have partnered with the EU in imposing the restrictions, the notice said, according to an unofficial translation. However, the legislation don't impose any export bans on fish products or measures that may harm fisheries agreements with other nations. Also, port closures in the Faroe Islands don't apply to Russian fishing vessels.
The U.K. amended four entries under its Russia sanctions regime. In a May 20 notice, the Office of Financial Sanctions Implementation updated the entries for Olga Petrovna Gryaznova, Yuri Nikolayevich Shamalov, Lyudmila Aleksandrovna Ocheretnaya and Marina Vladimirovna Magdalina, still subjecting them to an asset freeze. The updates corrected details on the sanctions listings such as the spellings of names and dates of birth.
Russia announced new sanctions against U.S. citizens, including two Treasury Department officials and two former Bureau of Industry and Security officials, according to an unofficial translation of a May 21 notice. Russia designated Deputy Treasury Secretary Wally Adeyemo, who has overseen some of the agency’s sanctions work, and Andrea Gacki, the director of the Office of Foreign Assets Control.
The Office of Foreign Assets Control is alerting users of its website and sanctions list data files of upcoming technical changes. The agency is beginning its annual renewal of the public certificate for its website, including its sanctions list downloads, and said its existing certificate will be replaced May 26 beginning at 9 p.m. The process will take about three to six hours for the replacement to be widely distributed, OFAC said in a May 23 notice. Users may need to update their configuration to trust the renewed certificate in order to prevent a loss of functionality.
The departments of state, the treasury, commerce and labor issued an advisory concerning U.S. Businesses in Sudan, to highlight the growing risks to American interests conducting business in the country, especially with Sudanese state-owned enterprises. Recent actions undertaken by the Sudanese government and security forces could adversely impact U.S. businesses and their operations in the country and the region, according to the advisory.