Sanctions Top-5 for the week ending 11 February 2022

  1. The UK government adopted The Russia (Sanctions) (EU Exit) (Amendment) Regulations 2022 to expand the criteria for imposing asset freezes in relation to the situation in Ukraine. According to a statement from the UK Foreign Secretary, “[t]he UK and its partners will not hesitate to act” in response to further Russian “aggression towards Ukraine.” (For more on this, see my colleague Alex Melia’s blog post here.)
  2. Meanwhile, Ukraine’s National Security and Defense Council adopted sanctions against a television station linked to former Ukrainian lawmaker Yevhen Murayev. Last month, the UK government announced it had uncovered a plot to replace Ukraine’s leadership, with Murayev “being considered as a potential candidate” to lead a pro-Russia government.
  3. President Biden signed an executive order blocking approximately USD 7 billion in funds of Da Afghanistan Bank (DAB), Afghanistan’s central bank, held in the United States. According to the White House, half of the funds will be used “for the benefit of the Afghan people,” and half will be made available to settle claims against the Taliban of US victims of terrorism.
  4. The US Commerce Department’s Bureau of Industry and Security (BIS) caused a stir by adding 33 Chinese companies to the little known and not well understood Unverified List (UVL) under the Export Administration Regulations (EAR). (More on this below.)
  5. OFAC named an individual in Ecuador and an individual in Mexico as Specially Designated Nationals (SDNs) under recently adopted Executive Order 14059. According to a Treasury Department news release, the individuals are linked to the Cartel de Jalisco Nueva Generacion (CJNG) and the Sinaloa Cartel and are responsible for trafficking significant amounts of cocaine from Ecuador to the United States.




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Nicholas Turner

Nicholas Turner


US attorney in Hong Kong specializing in economic sanctions, financial crimes. Sign up for emails: LinkedIn at: