Effective December 5, 2022, a coalition of G7 countries, Australia, and the European Union have generally forbidden service providers to provide certain services relating to the.
Headlines for companies and executives in regulated industries include Elizabeth Holmes was sentenced to 11 years for defrauding investors, annual review of the UK’s strictest financial sanctions in history on Russia, and FinCEN requires businesses to report true ownership.
Negotiations are still underway as a critical deadline approaches on December 5, but the G7 is inching toward a price cap that will do little to cut Russia’s oil revenue. The G7 price cap would defuse a package of EU sanctions that could drive Russian oil exports off the market and create a price spike. But the $65 per barrel range under consideration poses no threat to
UK’s Office of Financial Sanctions Implementation OFSI published review for the period April 2021 to August 2022, with a focus on effect of sanctions on Russia following invasion of Ukraine in February. OFSI describes response to invasion as unprecedented financial sanctions