News and Insights

Russia Oil Price Cap

On September 2, 2022 the G7 Finance Ministers announced a comprehensive ban on services that enable maritime transportation of Russian-origin crude oil and petroleum products globally. Effective December 5, 2022, services associated with the maritime transportation of Russian crude oil will only be allowed if the oil is purchased at or below a price (“the price cap”) to be determined by a broad coalition of countries. Similar prohibitions take effect on February 5, 2023, with respect to maritime...READ MORE

Client Alert: Sanctions Response Restricting Russia’s Revenue and War Effort

As we enter the seventh month of Russia’s unjustified war in Ukraine with the sabotage of the Nord Stream pipelines and a sham referendum annexing Ukrainian territory, there continues to be an unprecedented global response – via sanctions, export controls, and other tools of foreign policy. In our prior February 25, 2022, March 11, 2022, and June 1, 2022 alerts, we discussed the significant, coordinated sanctions the US, EU, UK, and numerous other jurisdictions have imposed on Russia’s leadershi...READ MORE

Client Alert: Taking Stock: Russia-Ukraine Sanctions and Export Controls

As we enter the fourth month of Russia’s illegal war on Ukraine, multilateral sanctions actions continue, but at a slower pace. As discussed in our prior February 25, 2022 and March 11, 2022 alerts, following Russia’s invasion of Ukraine, the US, EU, UK, and numerous other jurisdictions swiftly imposed significant, coordinated sanctions on Russia’s leadership, elite, financial institutions, and sectors of the economy that support the war effort. As a May 14 G7 foreign ministers' statement explai...READ MORE