A European Parliament committee is pushing for new rules that could allow the bloc to more quickly and efficiently seize sanctioned assets. The rules, approved as part of a draft position by the Civil Liberties, Justice and Home Affairs Committee this week, would harmonize the authorities of individual European Union member states’ asset recovery offices to “make cross-border investigations more efficient” and increase information sharing, including on “beneficial ownership registries, securities and currency information, customs data and annual financial statements of companies,” the Parliament said in a May 23 press release. They also would close “loopholes” by “ensuring assets can be frozen quickly, with temporary urgency measures where necessary” and “crack down” on those evading asset seizures through help from a third party. Confiscated assets could also be used to compensate victims or put toward “social or public interest purposes.”

The EU renewed its suspension of all customs duties, quotas and trade defense measures on Ukrainian exports to the EU for another year, until June 2024, the European Council said May 25. The temporary trade liberalization measures were initially imposed to aid Ukraine's economy through Russia's invasion.

The U.K. Department for Business and Trade released new guidance covering Russia-related sanctions circumvention. The guidance addresses ways companies can conduct sanctions due diligence, how companies try to "covertly" acquire goods through the procurement cycle and several red flags and "risk indicators."

The U.K.'s Office of Financial Sanctions Implementation amended the listings of three individuals and one entity on its Russia sanctions regime. The entries for Ilya Klebanov, Valery Shantsev and AFK Sistema were corrected with the latest information on date of birth or other date and address information, while the "non-Latin script language" for Vladimir Lepin was updated.

The U.K. this week issued a general license under its Russia and Belarus sanctions regimes authorizing certain funds transfers to a U.K. individual or entity for the purposes of satisfying a contractual obligation. The license, which runs until Nov. 21, features certain conditions, including that the payment must be for the benefit of a U.K. party and the total value of the funds cannot exceed about $248,561. The license also includes a reporting requirement.

A group of European countries not in the EU aligned with a recent sanctions move from the European Council under the Myanmar restrictions regime, the council announced. In late April, the council extended the sanctions until 2024 and updated the listing of certain individuals and entities subject to restrictions. The countries of North Macedonia, Montenegro, Serbia, Albania, Ukraine, Bosnia and Herzegovina, Georgia, Iceland, Liechtenstein and Norway also imposed the decision.

The EU added another five people and two entities to its human rights violations sanctions regime for their roles in human rights abuses in Iran, the European Council announced. The listings include the commander of the Tehran Police Relief Unit of Iran's Law Enforcement Forces, the Iranian Police spokesperson and the Supreme Council of Cyberspace of Iran secretary. The council also listed the IRGC Cooperative Foundation, which manages the Islamic Revolutionary Guard Corps' investments. The designations were rolled out as part of the EU's eighth sanctions package under its human rights violations sanctions regime.

The U.K. added 86 new entries to its Russia sanctions list, the Office of Financial Sanctions Implementation announced. The listings cover 42 people and 44 entities linked to Russia's energy, metals, defense, transportation and financial sectors, including Oleg Romanenko, head official at the Zaporizhzhia Nuclear Power Plant, 13 members of the Gazprom Neft board of directors and five members of the Transneft board of directors.

The U.K.'s Business and Trade Secretary Kemi Badenoch appointed five non-executive members of the Department for Business and Trade Board. The new members are Stephen Hill as lead non-executive director, Karina McTeague as Audit and Risk Assurance Committee chair, and Robert Leeming, Syed Kamall and Peter Fleet as non-executive directors. The appointments last for at least three years, during which they will "provide independent advice, support and scrutiny on the department’s work, to help deliver the Government’s ambitious business and trade agenda," the Department for International Trade said May 19.

The European Council dropped Nizar Al-Assaad from the EU's Syria sanctions regime following an EU General Court decision that found the EU erred in deciding that he met sanctions criteria, the EU Sanctions Blog reported May 18. The court also held that the EU violated his "legitimate expectations, the principle of legal certainty, the principle of res judicata," reported the blog, which is authored by U.K. lawyer Maya Lester, who represented Al-Assaad in the matter.