Economic sanctions and export controls form a core part of multilateral response to Russia's military actions in Ukraine, and as new measures continue to be introduced by various governments, companies conducting business internationally need to be prepared to act quickly following to ensure compliance.
Steptoe's cross-border team is closely following developments, and our updates are provided below to help companies quickly assess the evolving sanctions and export controls compliance landscape that may impact their ability to conduct business and trade.
Our team has significant experience assisting our clients from around the world in navigating rapidly changing Russia-related sanctions and export controls while seeking to minimize business disruption and ensure mitigation of regulatory risks. Our experience includes assisting clients with compliance counseling, conducting due diligence, developing compliance programs, obtaining licenses and other authorizations, conducting internal investigations, submitting voluntary self-disclosures, and responding to government inquiries.
Resources
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Commerce Department Proposes Rule to Regulate Connected Vehicles Linked to China and Russia, October 4, 2024
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G7 Issues Joint Guidance on Evasion of Sanctions and Export Controls on Russia, September 25, 2024
- US Government Imposes New Sanctions And Novel Export Controls Targeting Russian Financial Markets And Circumvention Networks, June 18, 2024
- US Government Imposes New Russia Sanctions, Designating Over 500 Parties And Issuing Interagency Russia Business Advisory
- New Secondary Sanctions Target Non-US Banks That Engage In Transactions With Russia’s Military-Industrial Base, December 29, 2023
- U.S. Government Issues New Russia-Related Sanctions Designations And Export Controls Guidance
- Critical Tornado Cash Developments Have Significant Implications For DeFi AML And Sanctions Compliance, August 31, 2023
- Assistant Secretary For Export Enforcement Matthew Axelrod Addresses Recent Developments In Export Controls And Antiboycott Regulations, August 2
- BIS Expands Export Controls On Russia And Belarus And Issues New Joint Alert With FinCEN, May 26, 2023
- [UPDATED] OFAC Publishes Determinations And Guidance On Implementing The Price Cap Policy For Russian Crude Oil And Petroleum Products, February 21, 2023
- Price Cap Coalition Selects Level For Cap On Price Of Seaborne Russian-Origin Crude Oil, December 13, 2022
- US Implements Subtle But Significant Expansions Of Export Controls On Russia, Belarus, And Other Countries, September 30, 2022
- What To Expect Next? US Economic Sanctions And Export Controls Enforcement Actions Thus Far In 2022, September 20, 202
- April 18 – May 2, 2022 Russian Sanctions Update, May 3, 2022
- US Sanctions On Russia Continue To Grow, April 18, 2022
- A Summary Of The Latest US Sanctions On Russia, April 4, 2022
- Update: New US Sanctions On Russia Target Certain Imports, Exports, Dollar Banknotes, And Investments, March 21, 2022
- What US Financial Institutions Need To Know About FinCEN’s Russian Sanctions Evasion And Ransomware Guidance, March 15, 2022
- A Summary Of New Ukraine-Related US Sanctions And Export Controls On Russia And Belarus, March 8, 2022
- Biden Administration Imposes Sweeping Financial Sanctions, Export Controls After Russian Invasion Of Ukraine, February 27, 2022
- Update: Biden Administration Announces Sanctions on Nord Stream 2, Russian Banks, Sovereign Debt and Other Targets, February 24, 2022
- White House Announces First Sanctions after Russia Enters Ukraine’s Donetsk and Luhansk Regions, February 22, 2022
- Preparing for New Russia-Related Sanctions and Export Controls, January 31, 2022
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The 16th Sanctions Package Against Russia: An Overview, March 3, 2025
- EU General Court Annuls The Listing Of The Mother Of Wagner Group Chief Yevgeny Prigozhin, March 16, 2023
- Update: EU Adopts Additional Sanctions Against Russia And Belarus Over The War In Ukraine, March 14, 2022
- Update: EU Adopts Far-Reaching Sanctions Following Russian Invasion Of Ukraine, February 27, 2022
- Ukraine Crisis: EU Imposes Broad Sanctions Package on Russia, February 24, 2022
- Assessing Potential EU and UK Sanctions Against Russia, February 3, 2022
- UK Issues Red Alert on Russian Oil Shadow Fleet Sanctions Evasion Network, July 10, 2025
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First UK Cross-Government Review of Sanctions Implementation and Enforcement Lays Out Roadmap for New Developments, May 20, 2025
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OFSI Imposes First-Ever Monetary Penalty for a Failure to Comply with a Statutory Request for Information, May 12, 2025
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First UK Criminal Convictions for Russian Sanctions Breaches Mark Historic Enforcement Milestone, April 14, 2025
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UK Export Controls Update: New Restrictions on Military Exports to Rwanda and Guidance on Export Licensing for Common High Priority List Items, February 27, 2025
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UK Makes First Use of Expanded Russia Designation Powers in Largest Package of Sanctions Since 2022, February 25, 2025
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OFSI Publishes First Financial Sanctions Threat Assessment, February 14, 2025
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Key Takeaways from New OTSI Guidance on No-Russia Clauses and Countering Trade Sanctions Evasion, January 10, 2025
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What Art Market Participants and High Value Dealers Need to Understand About New Mandatory Sanctions Reporting Requirements, November 26, 2024
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OFSI Imposes Tenth Civil Monetary Penalty on Integral Concierge Services Limited for Breaches Linked to Russia’s Invasion of Ukraine, October 7, 2024
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UK Strengthens Trade Sanctions Enforcement with New Strict Liability Civil Enforcement Powers and Launch of New Trade Sanctions Enforcement Agency, September 13, 2024
- UK Imposes New Trade Sanctions On Belarus, May 22, 2024
- A Round-Up Of Recent Changes To OFSI Financial Sanctions Guidance, May 17, 2024
- OFSI Issues Best Practices Guidance On Maritime Sector Financial Sanctions Compliance, April 10, 2024
- OFSI Publishes Expanded Guidance On Financial Sanctions Licensing Process And Principles, March 5, 2024
- OFSI Publishes Update On New Russia Sanctions Reporting Requirements, February 22, 2024
- UK NECC Publishes Amber Alert On Sanctions Evasion In The Art Storage Sector, February 21, 2024
- UK's Department For Business & Trade Issues New General Trade Licence For Third-Country Processed Iron And Steel Measures, December 22, 2023
- UK Issues New Package Of Russia Financial And Trade Sanctions, December 19, 2023
- UK Publishes Guidance On The Scope Of Sanctions Targeting Russian Iron And Steel Products Processed In Third Countries, September 19, 2023
- UK High Court Rejects First Delisting Challenge Under The UK's Russia Sanctions Regime, September 11, 2023
- UK Issues New Russia Trade Sanctions Circumvention Guidance, May 26, 2023
- UK Expands Designations Of All Subject To Asset Freeze Sanctions Under The Russia Regime To Include A Ban On The Provision Of Trust Services, March 24, 2023
- OFSI Updates Enforcement And Monetary Penalty Guidance To Address The Assessment Of Ownership And Control, March 17, 2023
- UK Expands Guidance On The Supply Of Professional And Business Services To Persons Connected With Russia, February 13, 2023
- New UK Russia Sanctions Legislation Amends Loan And Credit Restrictions; Expands The Range Of Items Targeted By Existing Trade Prohibitions; And Introduces New Trade Prohibitions On Liquefied Natural Gas, Items Critical To The Functioning Of Russia’s Economy And Certain Gold Items, October 28, 2022
- UK Introduces Long Awaited Russia Sanctions Legislation Banning Coal, Oil And Gold Imports, And The Provision Of Professional And Business Services To Russia And Further Expands Trade Restrictions, July 22, 2022
- UK Expands Powers Of Designation Under Russia Sanctions Regime; Prohibits Additional Types Of New Investment In Russia And Introduces New Trade Sanctions Exception For Humanitarian Assistance, July 20, 2022
- UK “Red Alert” On Russian Financial Sanctions Evasion Offers A Timely Reminder Of The Importance Of Risk-Based Due Diligence, July 15, 2022
- UK Introduces Further Economic Sanctions Against Belarus Including Financial, Trade & Transport Sanctions, July 12, 2022
- UK Further Expands Trade Sanctions Against Russia And Issues New Guidance On Aviation And Space Goods And Technology Insurance Ban, June 24, 2022
- UK Updates Sanctions Enforcement Guidance In Readiness For Imminent Introduction Of Strict Civil Liability For Financial Sanctions Breaches, June 8, 2022
- A Summary Of New UK Sanctions Enforcement Powers And Further Ukraine-Related UK Sanctions On Russia And Belarus, March 31, 2022
- Round Up Of New UK Sanctions And Export Controls On Russia And Belarus, March 14, 2022
- Update: OFSI Publishes Updated Russia Guidance; Issues New General Licences; And UK Amends Draft Economic Crime Legislation To Move “Harder And Faster” With Sanctions, March 7, 2022
- Update: New UK Russia Sanctions Legislation Comes Into Effect, Suspension Of Export Licences For Dual-Use Items To Russia, Additional Designations And New General Licences, March 3, 2022
- Update: UK Announces New Sanctions On Russian Banks, Issues General Licences, March 1, 2022
- Ukraine Crisis: UK Announces Further Tranche of Sanctions Following Russian Invasion, February 25, 2022
- UK Announces First Sanctions Targeting Russian Banks and Oligarchs after Russia Enters Ukraine's Donetsk and Luhansk Regions, February 23, 2022
- New Regulations Expand UK's Russia Sanctions Powers, February 10, 2022
- Assessing Potential EU and UK Sanctions Against Russia, February 3, 2022
- U.S. Commerce Department Concludes Russia Is A Non-Market Economy For Antidumping Proceedings, November 16, 2022
- Impacts Of Russia's Invasion Of Ukraine On Global Supply Chains, May 19, 2022
- Major Global Economies Take Aim At Trade With Russia Following Military Invasion Of Ukraine, March 21, 2022
- Recovering Losses from the State of Russia - Investment Treaties, March 15, 2022
News & Publications
Publications
Key Points From Trade Sanctions Office 'No-Russia' Guidance
Law360
January 16, 2025
By: Alexandra Melia
Client Alerts
Regulatory Landscape in the EU and the UK: Key Considerations for 2025
January 16, 2025
By: Darren Abrahams, Renato Antonini, Ruxandra Cana, Anne-Gabrielle Haie, Leigh Mallon, Alexandra Melia, Eva Monard, Eléonore Mullier, Zoe Osborne, Ronan Scanlan, Guy Soussan, Charles Whiddington, Elisabethann Wright, Byron Maniatis, Yongqing Bao, Tom Gillett, Elli Zachari, Algirdas Semeta, Maria Salomé Bustos Mesa
Martina Scassini
Stepwise Risk Outlook
Increased Secondary Sanctions Risks against Iranian Oil Exporting and Financial Networks
October 15, 2024
By: Melissa B. Mahle
Stepwise Risk Outlook
Extra-Territorial Sanctions Policies of UK, EU and Canada Creep Closer to the US
September 22, 2024
By: Melissa B. Mahle
Stepwise Risk Outlook
Shifts in Global Trade Landscape Accelerating Risks of De-Dollarization
September 10, 2024
By: Melissa B. Mahle
Media Mentions
Alexandra Melia Speaks to Global Investigations Review About New UK Foreign Sanctions Regulations
August 30, 2024
Events
Webinars
Possible Sanctions Against Russia: What You Need to Know
February 9, 2022
Speakers: Meredith Rathbone, Edward J. Krauland, Alexandra Baj, Matthew Coleman, Alexandra Melia, Guy Soussan
