The House Foreign Affairs Committee passed a bill on for further consideration that would require the administration to determine whether a person or a foreign financial institution is covered by either Executive Order 14024 (see 2203090036) or Executive Order 14039, (see 2108230061). The administration would have to justify who is covered if either the chair or ranking member of the House Foreign Affairs Committee or the Senate Foreign Relations Committee asks it to. The bill says the administration would have to respond to a request within 60 days. The voice vote in committee was April 5. It was co-sponsored by Rep. Dan Meuser, R-Pa., and Rep Susan Wild, D-Pa.
The Drug Enforcement Administration is placing the newly approved drug Quiviviq (daridorexant) in Schedule IV of the Controlled Substances Act, it said in an interim final rule. Effective April 7, daridorexant, which was granted FDA approval in January, is subject to new registration, labeling, record-keeping, and import and export requirements. DEA is accepting comments on the rule until May 9.
The Office of Foreign Assets Control on April 5 sanctioned Hydra Market, a Russia-based darknet market used to buy and sell illegal goods, and identified more than 100 virtual currency addresses associated with Hydra’s operations. The agency also sanctioned Garantex, a virtual currency exchange with operations in Moscow. OFAC said that more than $100 million worth of transactions associated with Garantex “are associated with illicit actors and darknet markets.”
The Bureau of Industry and Security on April 7 suspended the export privileges of three Russian airlines for violating U.S. export controls against Russia. The agency issued 180-day temporary denial orders for Aeroflot, Azur Air and UTair, which bar the airlines from participating in transactions with items subject to the Export Administration Regulations, BIS said. The agency said it may renew the denial orders after 180 days.
The U.S. on April 6 issued a series of new financial restrictions on Russian banks, including full blocking sanctions on Sberbank and Alfa Bank, two of the country's largest financial institutions. The wide-ranging designations also include full-blocking sanctions against a group of Russian state-owned entities "critical" to funding the war in Ukraine, the White House said. Sanctions were also levied against additional Russian government officials, oligarchs and their family members, including the adult children of Russian President Vladimir Putin and members of the Russian security council. President Biden also issued an executive order blocking new investment in Russia by Americans or American companies.
After passing the House 424-8 more than two weeks ago, a bill to end permanent normal trade relations status with Russia and Belarus remains hung up in the Senate. Sen. Rand Paul, R-Ky., objected to the language renewing Magnitsky sanctions that is attached to the bill (see 2203290057).
The U.K.'s Office of Financial Sanctions Implementation in an April 5 notice amended the sanctions listing for private Russian military contractor Wagner Group. OFSI updated the name on the listing.
European Commission President Ursula von der Leyen announced in an April 5 speech in Strasbourg the scope of the EU's fifth round of sanctions on Russia following its invasion of Ukraine, according to prepared remarks. The sanctions consist of "six pillars" along with a host of restrictions on individuals close to the Russian regime.
The U.S. and allies plan to issue a host of new Russia sanctions today, April 6, including new investment restrictions and more sanctions targeting financial firms, state-owned companies and government officials, White House Press Secretary Jen Psaki said April 5. The sanctions, previewed earlier this week by U.S. national security adviser Jake Sullivan (see 2204040003), are part of the administration's efforts to impose "consequences" on Russia and "hold Russian officials accountable" for the country's war in Ukraine, Psaki said. "Our objective here is to deplete the resources that [Russian President Vladimir] Putin has to continue his war against Ukraine," Psaki said. "And obviously causing more uncertainty and challenges to their financial system is a part of that."
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