News

Marie Solberg Hatten

Update on US-Venezuela relations

22/12/2025

Intensified sanctions targeting Russian and Iranian shadow fleets; EU agrees to phase out Russian gas imports

Recent weeks have seen significant sanctions activity across multiple jurisdictions, with particular focus on Russia's shadow fleet, and the EU has reached a landmark agreement to permanently phase out Russian gas imports.

23/10/2025

EU adopts 19th sanctions package; UK and US target oil majors Lukoil and Rosneft

Last week, the UK designated Russia's largest oil companies Lukoil and Rosneft on the asset freeze list. Last night, the US followed suit, designating both entities on the SDN list. Today, the EU adopted its 19th sanctions package, targeting the Russian shadow fleet and LNG exports.

20/06/2025

Relief in Syria sanctions – a brief summary of key updates from US, EU, UK, and Norway

On 23 May 2025, the US provided for an immediate relief of sanctions against Syria by the implementation of Syria General License (GL) 25. A few days later, the Council of the EU followed up with the adaptation of legal acts lifting all economic restrictive measures on Syria, apart from measures targeting security. Similar measures are also taken by UK authorities.

20/05/2025

New round of sanctions targeting the Russian shadow fleet

Today, the EU adopted its 17th package of sanctions against Russia following the invasion of Ukraine in 2022, targeting primarily the Russian shadow fleet. The new package follows in the footsteps of the UK, who announced their largest package of sanctions against the shadow fleet earlier in May. The UK also announced more than one hundred additional designations today.

24/02/2025

Three years of war: New sanctions adopted by the EU and the UK

As anticipated, the European Union has reached an agreement on its 16th sanctions package against Russia, and the UK has announced its largest package of sanctions against Russia since 2022. The new measures aim to intensify pressure on the Kremlin on the day of the third anniversary of Russia's full-scale invasion of Ukraine. This package highlights the EU and UK's continued commitment to weakening Russia's war capabilities and supporting Ukraine, despite the concerns regarding the US' potential pressure on the EU the alleviate sanctions against Russia.

14/01/2025

The US introduces extensive measures targeting the Russian energy sector and oil revenues

On Friday 10 January 2025, the US introduced extensive measures targeting the Russian energy sector and Russia's oil revenues. The measures include the designation of 183 vessels, many of which are deemed to be part of the Russian shadow fleet, as well as oil traders, oilfield service providers, marine insurance companies and energy officials. The UK also joined the US in sanctioning the two major Russian oil producers Gazprom Neft and Surgutneftegas.

16/12/2024

The EU's 15th package adopted today and latest developments in the EU, UK and US Russia sanctions programmes

The EU today adopted the 15th package of sanctions against Russia. We include a key summary of these new measures as well as further updates on recent developments relating to Norwegian, EU, UK and US sanctions.

18/04/2024

Recent developments, including new US sanctions restricting imports of aluminium, copper and nickel and wind-down of General License on Venezuela

In this sanctions alert we seek to summarise recent developments relating to Norwegian, EU, UK and US sanctions, including US and UK prohibitions on import of certain Russian-origin metals, wind-down of transactions related to oil and gas sector operations in Venezuela, EU's minimum rules for prosecution of and penalties for violating EU sanctions, and the implementation of the EU's 12th and 13th package of sanctions against Russia into the Norwegian Ukraine Regulation.

13/03/2024

Sanctions issued following the two-year anniversary of the invasion

In this sanctions alert, we include updates on recent developments following the two-year anniversary of the Russian invasion of Ukraine.

15/02/2024

The Crackdown on Price Cap Evasion and the BIMCO Russian Oil Price Cap Scheme Clause for Charter Parties

The BIMCO Russian Oil Price Cap Scheme Clause was long-anticipated when it was published on 2 June 2023. There has since been growing concern that the original Price Cap Measures were easy to circumvent, and in this article we examine the impact of the latest measures to combat such evasion.

24/01/2024

EU recent developments

The EU Council established a new sanctions framework targeting Guatemala. A new framework is also established by the EU for imposing restrictive measures against those who support, facilitate or enable violent actions by Hamas and the Palestinian Islamic Jihad.

19/12/2023

EU adopts 12th package of sanctions against Russia

The long-awaited 12th package of sanctions against Russia over its invasion of Ukraine was announced yesterday afternoon on the 18th of December. As expected, the package includes restrictions on additional goods of Russian origin, including diamonds, measures to strengthen the price cap on Russian oil and a significant amount of new designated individuals and entities.

23/10/2023

The US introduces Venezuela sanctions relief

On 18 October 2023, OFAC issued three new general licenses and amended three existing general licenses related to Venezuela in response to the signing of an electoral roadmap agreement between the Venezuela Unitary Platform and the Maduro regime. These actions by the US introduces, among other things, a sanctions relief for the Venezuelan oil and gas sector and gold sector in support of the Venezuelan people. OFAC also published related FAQs.

25/07/2023

Recent developments: Russia-related sanctions

Over the past few weeks, there have been a number of developments in the Norwegian, EU, UK and US sanctions regimes relating to Russia. In this article, we summarise the following recent developments:

29/06/2023

New asset freeze guidance from the Norwegian Ministry of Foreign Affairs

Earlier today, the Norwegian Ministry of Foreign Affairs (the "MFA") published an updated guidance on asset freeze measures. The guidance was originally published in 2018, and today's update adds additional guidance and reflects recent developments in legislation.

22/06/2023

EU adopts 11th package of sanctions against Russia. Developments in UK sanctions against Russia and Belarus

The long-awaited 11th package of sanctions against Russia over its invasion of Ukraine was announced earlier today, after EU ambassadors reached a consensus earlier this week. As expected, the package seeks to strengthen existing sanctions and crack down on circumvention.

24/05/2023

Russia sanctions: further US and UK designations, expansion of US authorities, UK announces ban on Russian-origin diamonds, copper, aluminium and nickel

On 19 May 2023, coinciding with the first day of the G7 Summit in Hiroshima, both the US and the UK announced several new sanctions designations. In addition, the US has expanded sanctions authorities targeting certain sectors of the Russian economy and banned export of architecture and engineering services to Russia, and the UK has announced coming bans on Russian diamonds, copper, aluminium and nickel.

25/02/2023

EU adopts tenth package of sanctions on Russia

Close to midnight on Friday 24 February, the Council reached a consensus on the tenth package of sanctions on Russia. The new sanctions coincided with the commemoration of one year since the full-scale invasion and war of aggression against Ukraine.

23/02/2023

US and UK impose new sanctions on Russia

Earlier today, on 24 February 2023, one year after Russia's full scale invasion of Ukraine began, the US and the UK imposed further sanctions on Russia. As of yet, no consensus has been reached on the EU's tenth package of sanctions.