A U.K. appeals court last week granted an injunction blocking a Gazprom subsidiary from suing its lenders in a Russian court over an abandoned gas project. The England and Wales Court of Appeal said it was the proper place to bring RusChemAlliance's claim against Germany-based Deutsche Bank, adding that there was no good reason not to impose the injunction.
Switzerland added five Russian companies to its sanctions list to align with the EU's decision to add the entities in September, the State Secretariat for Economic Affairs announced, according to an unofficial translation. The five companies -- RT Balkan, Oriental Review, New Eastern Outlook, Katehon and Tsargrad -- are Russian broadcasters.
The Treasury Department this week sanctioned two ship owners in Turkey and the United Arab Emirates, along with their two vessels, for transporting Russian oil sold above the global price cap set by the U.S. and its allies. The agency also issued a new general license authorizing certain transactions with the two sanctioned ship owners and, together with the Group of 7 countries and Australia, published a new price cap guidance and advisory outlining best practices for the maritime oil industry.
The U.K.'s Office of Financial Sanctions Implementation on Oct. 10 extended a General License allowing U.K. parties to receive payments from a sanctioned party if the contract took effect before the party's designation. The license now runs through May 21. OFSI also altered the license to change the definition of "contractual obligation" to exclude contracts using certain types of financial instruments, expand the list of excluded contracts that involve financial instruments, and create another annex that lists other types of excluded contracts.
The Bureau of Industry and Security recently renewed temporary denial orders for Russian airline Ural Airlines (see 2304110018) for one year and Russian cargo carrier Aviastar (see 2304180012) for six months after the agency said both continue to “act in blatant disregard” for U.S. export controls. BIS said Ural has continued to illegally operate aircraft on flights between Russia and Tajikistan and Kyrgyzstan, and Aviastar has operated flights between China and Russia. The TDOs bar the airlines from participating in transactions with items subject to the Export Administration Regulations.
John Unsalan, president of U.S. building materials supplier Metalhouse, pleaded guilty last week in connection with violations of Russia-related sanctions. Unsalan allegedly breached sanctions against Russian oligarch Sergey Kurchenko and two of his companies by providing them with over $150 million for steel-making materials (see 2304180033). DOJ said Unsalan pleaded guilty to one count of conspiracy to commit money laundering to “promote violations” of the International Emergency Economic Powers Act, which carries a maximum 20-year prison sentence, and agreed to forfeit about $160 million in proceeds he obtained from the conspiracy. The U.S. dismissed the remaining counts of the indictment against Unsalan as part of a plea deal.
The Bureau of Industry and Security added 49 entities, mostly from China, to the Entity List for shipping microelectronics to Russian consignees connected to the country’s defense sector. The entities are semiconductor companies, technology businesses, logistics companies and others, and also include companies based in Estonia, Finland, Germany, India, Turkey, the United Arab Emirates and the U.K.
Switzerland added guidance under its Russia sanctions regime pertaining to documents considered valid "proof of the country of origin" for iron and steel goods, according to an unofficial translation. The guidance updated Section 2.1.4, according to the EU Sanctions blog, and said factory test certificates are sufficient proof for COO along with invoices, delivery notes, quality certificates, long-term supplier declarations, production documents, the exporting country's customs forms, trade correspondence and exclusion clauses. Switzerland also laid out when this proof is needed, noting that the forms aren't required when importing steel products from the EU or the U.K. or reimporting goods that have already been in free circulation in Switzerland.
The U.S. has sanctioned more than 2,500 Russia-related parties or entities, including over 80% of the country’s banking sector by assets, since Moscow invaded Ukraine last year, said Elizabeth Rosenberg, the Treasury Department’s assistant secretary for terrorist financing and financial crimes. But she said the administration can still do more to increase pressure on the Russian government.
The Bureau of Industry and Security dismissed appeals from a Turkish airline and a Russian tour company after both said they were wrongly implicated in a temporary denial order the agency renewed against a separate Russian airline in June.