The members of the G7, the European Union and Australia (together, the “Price Cap Coalition“) have agreed to implement a prohibition on the maritime transportation of certain oil (HS code 2709 / CN code 2709 00 / HTS code 2709.00) and oil products (HS code 2710 / CN code 2710 / HTS code 2710) (together “Russian Oil Products”), originating in or consigned from Russia, from a place in Russia to a third country or from one third country to another. The prohibition extends to the provision of financial services, including (re)insurance, in pursuance of or in connection with an arrangement whose object or effect is the maritime transportation of Russian Oil Products….
SANCTIONS UPDATE: TRADING IN YEMEN
May 17, 2025
Recently, the US has stepped up pressure on the activities of the Yemeni group, “Ansarallah” (also referred to as the “Houthi Group”, “Partisans of God”, and “Supporters of God”) through the introduction of various sanctions designations and new General Licences (GLs) under the US’ Yemeni sanctions regime.The most significant of these measures are summarised below.
