... transport and logistics, and the financial sector. However, Russian industrial and technology companies are already a typical target of US blocking sanctions. The structure of the sectoral coverage of blocking sanctions has remained virtually unchanged.
Secondary sanctions against a number of companies from third countries cooperating with Russia can be considered equally common. These include six companies from China (which supplies electronics and optics to the Russian Federation), four companies from ...
... restrictions can hardly be called a new phenomenon. Over the past year and a half, they have become routine. However, the latest wave of sanctions is notable for its emphasis on certain sectors of the Russian economy, as well as the practice of applying secondary sanctions against companies in third countries involved in circumventing American restrictions.
Ivan Timofeev:
US Congress and Sanctions Against Russia
Blocking financial sanctions today can be considered a key tool of restrictive measures....
Such sanctions are unlikely to ensure the blockade of Russia desired by the Western initiators. This was not achieved even with respect to Iran, whose economy is smaller than Russia's
Another package of US sanctions has caused a stir in connection with restrictive measures against companies from Kyrgyzstan that work with Russia. In fact, such restrictions fit into an already-existing trend. Companies from friendly countries are under threat of blocking sanctions for dealing with sanctioned Russian...
... correspondence of the participants in the transaction, as well as signals to the authorities from the manufacturing companies, which were contacted by the accused Russian citizens and their partners.
Along with criminal cases, the number of cases of secondary sanctions, that is, blocking financial sanctions for transactions in favour of previously blocked persons, is also growing. Since the beginning of 2023, the US Treasury has imposed such sanctions on people from China, India, Armenia, Kyrgyzstan,...
... individual countries that can turn a blind eye and even directly facilitate such supplies?
Obviously, when developing new mechanisms, the EU was guided by the rich experience of the United States. Americans have been using three tools for a long time - secondary sanctions, the expansion of export restrictions, and criminal and administrative prosecutions. In the first case, the US Treasury simply imposes blocking sanctions on individuals and entities that are suspected of circumventing sanctions. Such ...
... commerce, business associations and entrepreneurs themselves. Here, the special representative will have more scope and prospects for securing compliance. Unlike government structures, business is showing much more nervousness and caution. Business fears secondary sanctions. If earlier the EU opposed secondary sanctions, today it is ready to apply them against Russia—such a legal mechanism has already appeared in Council Regulation (EU) No 269/2014. In addition, the European Union is working to harmonise ...
... growth of the Sino-American confrontation. There were three of them during the period under review. In addition to ZTE,
Hong Kong Sojitz Limited
in 2022 and the
Jereh Group
in 2018 were fined in 2018.
This is partly due to the active use of blocking secondary sanctions by the Treasury, as well as the fact that the US Department of Commerce plays a leading role in this area, since sanctions against China to a greater extent affect the issues of technology and "dual-use" goods.
The total ...
... regard to the situation in Ukraine. Now, they include individuals and legal entities that contribute to bypassing the sanctions regimes against Russia under the Ukrainian package. The new legal mechanism suggests that the European Union is adopting secondary sanctions similar to those used by the United States for a long time.
Ivan Timofeev:
Is It Possible to Lift Sanctions Against Russia? — No
The essence of secondary sanctions is that financial restrictions are applied for interaction with blocked ...
... and organizations were initially the key subjects of legal rules. American administrative vocabulary also includes the “enforcement actions” concept; these actions target both Americans and foreigners. Although there is no generally accepted “secondary sanctions” concept, it appears expedient to use it in this particular meaning without reducing it solely to extra-territorial measures.
Several U.S. agencies are in charge of monitoring sanctions compliance. The Department of State supervises ...
