The U.K.'s Export Control Joint Unit on Nov. 6 replaced and updated its open general export license for goods in support of the Turkish Aerospace Industries TF-X program. The new license replaces the revoked license and allows for the export of "software or technology for the Turkish Aerospace Industries (TAI) TF-X Programme aircraft, also known as KAAN, from the U.K. to" Turkey and, in the case of reexports, the U.K.
Switzerland's State Secretariat for Economic Affairs on Nov. 1 amended 224 entries under its Russia sanctions regime. The updates were for 181 people and 43 entities and, for many, gave more specific reasons for the listings. The changes took effect Nov. 2.
The Guernsey Financial Services Commission on Nov. 1 called on companies to submit reports involving frozen assets linked to parties designated under the Russia sanctions list. Businesses that "hold or control frozen assets" of the sanctioned parties, "or which have an ongoing connection to frozen assets outside" Guernsey, should report certain information about those assets to the government by Nov. 24.
The EU updated a frequently asked question under its Russia sanctions regime pertaining to the Central Bank of Russia. The question asked whether the payment to fulfill the "obligation to pay voluntary transaction" falls under the definition of "transactions related to the management of reserves as well as assets" under the bloc's sanctions regime. The EU said the Russian Governmental Commission sets the obligation to pay a voluntary transaction, or so-called "exit tax," which is not part of Russia's official tax legislation. Sanctions don't apply because payment is a "precondition for" allowing EU companies to divest from Russia and doesn't lead to "enabling the Russian Central Bank to manage its reserves or assets."
The U.K. corrected one entry under its Russia sanctions regime Oct. 31, removing an alias for Veniamin Ivanovich Kondratyev, governor of the Krasnodar territory.
The Rotterdam District Court on Oct. 31 sentenced an unnamed Russian businessman to an 18-month prison term for violating the EU's Russia sanctions, according to an unofficial translation. The charges against the man include selling dual-use goods, including a "certain type of integrated circuit" and drones to Russian companies, along with selling, delivering, transferring and exporting nine other integrated circuit types to the same unnamed Russian companies.
The U.K. corrected one entry under its Iran (nuclear) sanctions regime, the Office of Financial Sanctions Implementation announced. The listing for Farasakht Industries was updated with the company's address details.
U.S. Trade Representative Katherine Tai said she discussed the next steps for negotiations on the global arrangement on steel and aluminum with her EU counterpart, Valdis Dombrovskis, and said she updated France's Foreign Trade Minister Olivier Becht on the negotiations. Her Oct. 28 readout of the meeting with Becht said she "noted the importance of both sides continuing to work together in a productive manner over the next several months. She reiterated the United States’ commitment to remain at the negotiating table in order to reach a meaningful outcome."
The EU is working on a proposal to use "windfall profits" from its Russian sanctions regime in an aid package for Ukraine, European Commission President Ursula von der Leyen announced Oct. 27. The proposal would pool the assets, which currently are "benefitting a limited number of financial institutions in the" EU, and channel them via the EU budget "en bloc" for Ukraine's reconstruction.
The U.K. High Court on Oct. 26 rejected an application from Russian oligarch Mikhail Fridman to overturn the U.K.'s decision to refuse three licenses for payments related to the businessman's property and his management company. The court said the U.K.'s Office of Financial Sanctions Implementation legally concluded that a license may not be granted if the payment is made "directly" or "indirectly" to another designated individual or entity.