Latest Developments from June 2nd, 2023
The OverRuled: Russia Trade Controls Resource Center has recently been updated to provide comprehensive information on the latest developments in international trade relations with Russia. Here's a breakdown of the key updates:
On May 19, 2023, Australia announced a significant move by introducing an export ban on Australian machinery and parts to Russia and areas temporarily under Russian control. This action is a new development and does not involve the export of debt securities servicing transactions, as outlined in GL 69.
In a related move, Australia also designated three officials and 21 entities involved in Russian economic or strategic activities.
The updates to the OverRuled: Russia Trade Controls Resource Center are provided in collaboration with Moulis Legal, and more details about these actions can be accessed by subscribers who seek exclusive content, analysis, and historic search functionality.
Fast forward to May 26, 2023, and Japan followed suit by designating 24 individuals and 78 entities as additional sanctions targets. Japan also prohibited the export of goods and technologies to certain additional Russian entities, marking another significant development in the ongoing international response to Russia's actions.
To keep up with these developments, the OverRuled: Russia Trade Controls Resource Center has been expanded to include the actions taken by Japan on May 26, 2023.
On May 31, 2023, the U.S. Department of the Treasury's Office of Foreign Assets Control issued a new Russia-related General License ("GL"), namely GL 69, "Authorizing Certain Debt Securities Servicing Transactions Involving International Investment Bank." This update has been added to the OverRuled: Russia Trade Controls Resource Center to ensure users have the most current and accurate information.
For those interested in staying informed about these updates, subscription information can be found at [email protected].
These updates underscore the ongoing international efforts to respond to Russia's actions and the importance of staying informed about the evolving trade landscape. The OverRuled: Russia Trade Controls Resource Center serves as a valuable tool for businesses and individuals seeking to navigate this complex and ever-changing landscape.
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