Kimberly B.Rhum

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

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

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

In the nearly three weeks since Russia’s invasion of Ukraine, over 30 countries continue to increase their sanctions targeting Russian individuals, financial institutions, exports of technology, and key sectors of the Russian economy. This alert provides an update on the developments in the United States, United Kingdom, and European Union since our February 24, 2022 publication.

In response to Russia’s invasion of Ukraine and recognition of the Donetsk and Luhansk People’s Republics (DNR and LNR, respectively) as independent states, countries around the world have announced sweeping sanctions targeting Russian banks, individuals, companies, access to technology, and the Nord Stream 2 pipeline. Per the White House, these measures are expected to have a “profound impact on Russia’s economy, financial system, and access to cutting-edge technology.”