|
|
The Office of Foreign Assets Control (OFAC) of the U.S. Department of the Treasury has announced new extensive sanctions against the Russian oil and gas sector, targeting vertically integrated oil companies, specific project operators in resource extraction, shipping, insurance and service companies, as well as top management.
|
|
The President of the Russian Federation Vladimir Putin signs a decree allowing citizens of unfriendly countries to swap frozen funds for blocked Russian assets abroad. The decree applies to securities held on NSD's accounts with foreign depositories.
|
|
From the beginning of the war in Ukraine to the present, 18 people associated with Russia have been excluded from the sanctions lists of the EU, US and UK. 8 people were excluded from EU sanctions lists, 7 from US sanctions lists, 3 from UK lists.
|
|
On 18 August 2023, the High Court of London issued a ruling rejecting the claims of former Sibneft CEO Evgeny Shvidler, who had requested to be removed from the sanctions list. Despite his UK and US citizenship, the court did not grant his request
|
|
A procedure has been developed for the creation of international companies on the territory of the SAR by way of incorporation. A foreign legal entity can act as a founder of a company, provided that the assets of such a foreign legal entity with a book value of at least 800 million rubles are transferred to the established international company within one year from the date of its state registration.
|
|
|
|
Order of the Ministry of Finance of the Russian Federation dated June 5, 2023 No. 86n (the “Order of the Ministry of Finance dated June 5, 2023 No. 86n”) provides for an increase in the list of offshore companies by more than two times (from 40 to 91).
|
|
On June 9, 2023, the European Council issued an official press release announcing that the European regulator has reached an agreement on the key provisions of the Directive on criminalization of sanctions circumvention (the "Directive").
