Newsletter of the main news 10.08/16.08

1. International Sanctions Policy

 

Russian assets may increasingly face freezing measures even when held in cryptocurrencies widely used by Russian citizens. Sanctions risks for crypto assets are growing as authorities strengthen enforcement of international restrictions.

 

The United States has sold two Russian “shadow fleet” tankers seized in January for scrap. The move demonstrates that detained vessels may not only remain subject to sanctions but can also be disposed of following their seizure.

 

Switzerland has extended its sanctions against Russia, maintaining alignment with the European Union’s restrictive measures.

 

Canada has imposed sanctions on a defence company that supplied military equipment to Russia. The new measures target entities contributing to Russia’s military-industrial complex.

 

Cryptocurrency exchange Binance has joined the EU sanctions regime against Russia. The move strengthens oversight of crypto services that could potentially be used to circumvent international restrictions.

 

The International Automobile Federation (FIA) has lifted all restrictions on athletes from Russia and Belarus. The decision marks another step toward the return of athletes from both countries to international competitions.

 

The Russian Athletics Federation is once again challenging World Athletics sanctions before the Court of Arbitration for Sport (CAS). Moscow continues its legal efforts to overturn restrictions on the participation of Russian athletes in international competitions.

 

Russia’s suspension from international senior curling competitions has been extended until the end of the year. Restrictions on Russian athletes therefore remain in place across a number of sporting disciplines.

 

Vladimir Putin has threatened to seize Western commercial vessels in response to measures targeting Russia’s “shadow fleet.” The warning comes as international efforts to monitor and disrupt vessels involved in sanctions evasion intensify.

 

The International Register of Damage Caused by Russia’s Aggression Against Ukraine has opened new categories for claims. The expansion will allow additional types of damage suffered by Ukrainian individuals and the state to be documented and potentially addressed through future compensation mechanisms.

 

2. Sanctions Violations and Circumvention

 

A Vienna-based company supplied components to the Russian military. The case highlights how Russia’s defence industry continues to obtain foreign-made components through European companies and intermediary supply chains.

 

Two Belarusian nationals have been convicted in Austria of circumventing export restrictions. The ruling reflects growing criminal enforcement against violations of sanctions and export controls.

 

The Central Bank of Armenia has tightened controls on money transfers over concerns that the country’s financial system could be used to circumvent sanctions against Russia. The new measures are intended to make it more difficult to route Russia-linked funds through Armenia.

 

Ukraine’s Main Directorate of Intelligence (HUR) has released details of 26 vessels used by Russia to transport oil, gas and stolen Ukrainian grain. The information identifies vessels involved in the transportation of Russian energy exports and illegally removed Ukrainian agricultural products.

 

Russia has built another tanker to help circumvent sanctions via the northern seas. The expansion of its tanker fleet provides Moscow with additional routes for transporting energy exports outside established sanctions enforcement mechanisms.

 

Russia is expanding trade with China via the Arctic. The Northern Sea Route is becoming an alternative corridor for Russian exports and imports amid restrictions imposed by Western countries.

 

A U.S.-made microcomputer has been found in a new Russian missile. The discovery once again highlights the continued presence of Western technology in Russia’s defence sector despite export controls.

 

3. Ukraine’s Sanctions Policy

 

Sanctioned assets are already being used to support Ukraine’s recovery. Mechanisms for directing frozen Russian funds toward Ukraine’s needs are gradually moving from political discussions toward practical implementation.

 

Ukraine has imposed sanctions on vessels, companies and Russian nationals involved in the theft of Ukrainian grain. The measures target participants in schemes to illegally transport agricultural products from temporarily occupied Ukrainian territories.