Extension of US sanctions in respect of Russian individuals and entities
Club correspondents in New York, Freehill Hogan and Mahar LLP have published an article highlighting some of the latest US sanctions in respect of Russian individuals and organisations. The article discusses the potential implication of the new sanctions for non US persons as well as providing certain definitions and discussion of the so-called 50% Rule whereby entities not listed on the US SDN list can be considered Specially Designated Nationals if they are 50% or more owned by an entity on the SDN list. The article also talks about the potential consequences for shipping, which unfortunately are difficult to predict.
Freehill’s article has been added to the Russian section of the Sanctions page on the Steamship website