Yermak-McFaul Working Group on Russian Sanctions. Progress Update #6, June 24 compared to Apr 19
Action Plan on Strengthening Sanctions against the Russian Federation, April 19, 2022
Prepared by KSE Institute
If a week before Switzerland was the one to catch up with the 6th EU sanction package, then last week Norway fully took this role, however, with exception for sanctioning RB entities. In addition, Canada adopted a law allowing the freezing and confiscation of Russian-sanctioned assets, which moved from the standstill the progress under #Reconstruction stream. Among announcements worth watching in upcoming weeks:
- Germany is to create a national registry of assets that are subject to sanctions,
- EU considers gold as one of the new sanction targets (according to Reuters),
- USA endorsed resolution calling to recognize RF as a sponsor of terrorism, final decision rests on State Department and the White House.
At the same time, Lithuania’s decision to apply transit restrictions on goods subject to EU sanctions between Russia and Kaliningrad region became the most eye-catching sanction-event last week.
Nonetheless, the work on the 7th EU package should be accelerated as well as the whole sanction process.
Progress over last week:
#Oil: Norway banned purchase, import or transfer of oil transported by sea, as well as supporting services.
#Transport: Lithuania started to apply transit restrictions on goods subject to EU sanctions between Russia and Kaliningrad region.
#Financial: Norway joined the 6th EU package by de-SWIFTing 3 RF and sanctioning 18 RF in line with 6th EU sanction package. UK banned export of banknotes denominated in sterling or any official currency of the EU.
#Individual: Norway sanctioned 65 RF individuals, included in the 6th EU package.
#SOE: Norway sanctioned 6 RF SOEs + 4 owned by SOE on 27% as the EU did under its 6th package.
#Trade: Norway expanded the list of goods subject to export controls / bans that could help increase RF military and technological capabilities and banned provision of auditing and accounting, financial advice to RF. UK export ban on: maritime goods&technology and related services, products&technology that could be used to repress people, goods&technology relating to chemical and biological weapons, restricted goods&technology to, or for use in, non-government controlled Ukrainian territory, jet fuel and fuel additives + extended the list of oil refining goods&technology and the list of energy-related goods banned to export + ban on services relating to iron and steel goods + import ban on: revenue generating goods RF origin.
There is no progress last week in #Secondary #Transparency.
