OFAC announces that, from 5 February 2023, US persons will be barred from providing maritime-transport and related services for Russian-origin petroleum products unless the cargo is sold at or below a forthcoming price cap.
Energy
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Secondary sanctions for significant transactions with Russian gold
The NDAA orders blocking and visa sanctions on any non-US person who knowingly conducts a significant transaction involving the sale, supply, transfer or transport of Russian gold.
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Oil cap enforcement, prohibition of services
Prohibit the provision of services, in relation to the maritime transport of Russian crude oil, unless the oil is purchased at or below the price outlined in the G7+ Coalition Oil Price Cap List. Listed 33 Generals and 6 entities.
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Eighth sanctions package: oil price cap
A price cap is imposed on the maritime transport of Russian oil to third countries. Further measures include:
additions to the list of restricted items which may contribute to Russia’s military and technological enhancement;
additional restrictions on trade and services; targeting of Generals responsible for Russia’s occupation and annexation of territories and the “sham referenda”. -
Sixth package of sanctions: oil import embargo
The sixth package includes a ban on the import of Russian seaborne crude oil starting from December 2022 and petroleum products starting from February 2023;
a SWIFT ban for three additional Russian bank and one Belarusian bank;
suspension of broadcasting in the EU for three more Russian state-owned outlets. -
Fifth package of sanctions against Russia
The fifth package includes a ban on:
imports from Russia of coal and other solid fossil fuels;
all Russian vessels from accessing EU ports;
Russian and Belarusian road transport operators from entering the EU;
imports of other goods such as wood, cement, seafood and liquor;
exports to Russia of jet fuel and other goods;
deposits to crypto-wallets. -
Full blocking on Sberbank & Alfa-Bank; limited wind-downs; broad US investment ban in Russia
OFAC designates Sberbank, Alfa-Bank and their respective subsidiaries as SDNs under full blocking sanctions; amended General Licenses 8B, 9B and 10B extend energy-related dealings, debt-and-equity activity and derivative-contract wind-downs involving Alfa-Bank and earlier-listed banks through 24 June or 30 June 2022; a new executive order bars any new US investment in Russia and empowers OFAC to prohibit specified US-origin services and the facilitation of transactions that US persons could not lawfully perform themselves.
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Fourth package of sanctions against Russia
Sanctions targeted to critical sectors, accompanied by restrictions on technology transfers. Includes a ban on:
all transactions with certain state-owned enterprises;
the provision of credit rating services to any Russian person or entity;
new investments in the Russian energy sector -
Nord Stream 2 AG and CEO blocked
The United States designated Nord Stream 2 AG and its CEO Matthias Warnig as Specially Designated Nationals, blocking their US-linked assets and transactions.
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Extended ban on price-cap oil sales
Presidential decree extends Russia’s ban on selling oil under the Western-imposed price cap until December 31, 2025.