Switzerland will adopt all the sanctions imposed by the EU against Russia since its invasion of Ukraine, the country announced Feb. 28. The move, a shift in Switzerland’s longstanding position of neutrality, will impose “immediate” financial sanctions against Russian President Vladimir Putin, Prime Minister Mikhail Mishustin, Foreign Minister Sergey Lavrov and other people and companies listed by the EU last week. Switzerland said it’s “responding to the serious violations of international law for which these individuals are responsible.”
South Korea, Australia and Japan have announced new sanctions measures on Russia following its assault on Ukraine. South Korea and Australia said Feb. 28 they are joining many other nations, including the U.S., the U.K. and the EU member states, by removing certain Russian banks from SWIFT, the global interbank messaging service. The South Korean government also announced a set of export controls over certain strategic goods to Russia, according to an unofficial translation, and Australia announced sanctions on the Central Bank of Russia, President Vladimir Putin and high-ranking government officials.
The U.K. and EU over the weekend added to the deluge of restrictions placed on Russia following its invasion of Ukraine, banning all Russian planes from European airspace and imposing sanctions on the Russian Central Bank. The EU and the U.K. also announced sanctions on SWIFT, a messaging service used by global financial institutions.
As part of the U.S.’s new Russian export controls (see 2202240069), the State Department will deny licenses or approvals for a range of defense-related exports and brokering activities associated with sales to Ukraine's Donetsk or Luhansk regions. The measures, outlined by the agency’s Directorate of Defense Trade Controls Feb. 25, will place new restrictions on exports, reexports, retransfers or temporary imports of defense articles or defense services listed on the U.S. Munitions List. Certain exemptions will apply to exports and transfers related to the “official business” of the U.S. government, DDTC said, including some activities by government employees, grantees or contractors. The agency urged exporters, “particularly those conducting business in the region,” to continue to monitor its website for policy updates or changes.
New sanctions on the Russian Central Bank, Ministry of Finance and two Russian investment funds announced Feb. 28 are the “most significant action” the Treasury Department has ever taken against an economy the size of Russia, said a senior administration official that day. “We're doing exactly what we said we’d do,” the official said during a call with reporters. “We said all options are on the table, including the most severe sanctions ever contemplated against Russia.”
While nearly all the rest of the developed world was placing sanctions on Russia following its invasion of Ukraine, China issued notice it would be lifting restrictions on Russian exports of wheat to China. China's General Administration of Customs announced the move Feb. 23, according to an unofficial translation. The customs administration also laid out a series of monitoring and quarantine requirements for any wheat shipments. The two countries initially agreed to the trade following Russian President Vladimir Putin's visit to Beijing in early February, but it was announced only hours after Russia's invasion of Ukraine, the South China Morning Post reported Feb. 24. Russia is the world's largest exporter of wheat and the move could help alleviate its economic concerns following a large wave of sanctions from many of the globe's largest economies. "China will continue to carry out normal trade cooperation with Russia and Ukraine in the spirit of mutual respect, equality and mutual benefit," a Chinese Foreign Ministry spokesperson said Feb. 24, according to a transcript in English of a regular press conference.
House Republicans on the Ways and Means Committee told U.S. Trade Representative Katherine Tai that she needs to provide "a detailed analysis" of how China did or did not live up to the phase one trade deal. "We have great confidence in your abilities to address the many challenges China presents to the United States and other market economies, and we hope you will expand detailed communication on these matters so that Congress and the Administration can be partners in developing effective U.S. responses," they wrote Feb. 24.
The U.S., EU and the U.K. sanctioned Russian President Vladimir Putin and Foreign Minister Sergei Lavrov in response to Russia's assault on Ukraine. The U.S. will set new sanctions on those two and "members of the Russian National Security Team," White House Press Secretary Jen Psaki said at a press briefing Jan. 25. The decision was reached following a phone call with EU Commissioner Ursula von der Leyen. The U.K.'s Office of Financial Sanctions Implementation imposed asset freezes on the two Russian leaders, in a Feb. 25 notice; the restrictions did not include a travel ban. The U.K. began rolling out its second wave of sanctions Feb. 24, with Prime Minister Boris Johnson promising to designate more than 100 individuals and entities (see 2202240070). High Representative for Foreign Affairs Josep Borrell said at a news conference Feb. 25 that the EU would add Putin and Lavrov to its sanctions regime, adding to the bloc's earlier announcement laying out broad sectoral sanctions and restrictions on a large list of individuals and entities.
The Treasury Department's Office of Foreign Assets Control placed five additional Russian officials, 44 entities and five vessels on sanctions lists. The move follows OFAC's Directive 1A issued Feb. 22.
The Senate should move forward with the confirmation of Alan Estevez, who was nominated last summer to lead the Bureau of Industry and Security, said Kevin Wolf, former assistant secretary for export administration, in a LinkedIn post. "BIS is advancing significant national security objectives in novel and complex ways," said Wolf, who is now a lawyer at Akin Gump. "It needs Alan Estevez in as its Under Secretary now. Seriously. Whatever issues are holding up his confirmation need to be set aside today so that he can get to work at BIS." Sen. Bob Menendez, D-N.J., has voiced some reservations over Estevez's stance on gun export controls (see 2201050023 and 2110050029).