Russia/Ukraine Sanctions Update - Month of June 2025

US Sanctions | EU Sanctions | UK Sanctions | Russia/Ukraine Sanctions | Other Notable Developments

I. U.S. Sanctions 

• Politico Reports President Trump Will Not Increase Sanctions on Russia to Maintain Peace Talks: On June 25, Politico reported that during an interview with Secretary of State, Marco Rubio, Secretary Rubio stated that, despite Europe’s pleas for the U.S. to ratchet up sanctions on Russia, President Trump “will know the time and place” for new economic measures. Secretary Rubio stated that the implementation of additional sanctions on Russia would admit that peace between Russia and Ukraine would not “be negotiated anytime soon” and crush hopes of a ceasefire. Read more >> and Read more >>
• U.S. Treasury Department Assesses over $215 million in Penalties Relating to Violations of Russian Sanctions: On June 12, the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) announced the assessment of a $215,988,868 civil monetary penalty against GVA Capital Ltd. of San Francisco, California for violations of OFAC's sanctions against Russia and for related reporting failings. The penalties stem from allegations that GVA Capital knowingly managed an investment for sanctioned Russian oligarch, Suleiman Kerimov, while aware of his blocked status and that GVA Capital also failed to comply with an OFAC subpoena during OFAC's investigation into the matter. This is the first enforcement action under the second Trump administration and shows that Russia/Ukraine sanctions enforcement will likely continue under this administration. Read more >>
• U.S. Senators Propose Carveout in Russia Sanctions Bill for Countries that Support Ukraine: On June 4, the Hill reported that Senators Richard Blumenthal (D-CT) and Lindsey Graham (R-SC) proposed a carveout to their legislation, S. 1241, the Sanctioning Russia Act of 2025. The proposed carveout would exempt countries that help Ukraine’s defense, thus protecting them from a 500 percent tariff on countries trading with Russia. If passed, the legislation would impose such a tariff on imports from any country that buys Russian oil, gas, uranium, and other products. The legislation has more than 80 co-sponsors in the Senate. Read more >> and Read More  >> (original legislation)
• U.S. State Department Issues Statement on Russia National Day: On June 12, the U.S. State Department issued a statement congratulating the Russian people on Russia day and emphasizing U.S. “desire for constructive engagement with the Russian Federation to bring about a durable peace between Russia and Ukraine” and for “mutually beneficial relations between” the U.S. and Russia. Read more >>
• U.S. Secretary of the Treasury Meets with Ukrainian First Deputy Prime Minister: On June 4, Secretary of the Treasury, Scott Bessent, met with First Deputy Prime Minister and Minister of Economy for Ukraine, Yulia Svyrydenko. Secretary Bessent reaffirmed U.S. support for Ukrainian sovereignty and “emphasized his excitement about the operationalization of the U.S.-Ukraine Reconstruction Investment Fund,” and the importance of “ensuring that no one who financed or supplied the Russian war machine should be allowed to benefit from the reconstruction of Ukraine.” Read more >>
• U.S. Secretary of State Speaks with Russian Foreign Minister: On June 1, U.S. Secretary of State, Marco Rubio, spoke with Russia’s Foreign Minister, Sergey Lavrov, and “reiterated President Trump’s call for continued direct talks between Russia and Ukraine to achieve a lasting peace.” Read more >>

II. EU Sanctions

• EU Commission Proposes Gradual Phase-out of Russian Gas and Oil Imports into the EU: On June 17, the European Commission put forward a proposal for a Regulation on phasing out Russian gas imports and improving monitoring of potential energy dependencies. The proposed Regulation provides a stepwise phase-out of pipeline gas and liquefied natural gas originating in or exported directly or indirectly from Russia. It also presents measures to facilitate the complete stop of Russian oil imports by the end of 2027. Under the proposal, Member States will be required to present diversification plans with precise measures and milestones for the gradual elimination of Russian gas and oil imports. Read more >>
• EU Renews Sanctions Against Russia: On June 16, the EU decided to renew the sanctions introduced by the EU in response to the illegal annexation of Crimea and the city of Sevastopol by Russia until June 23, 2026. Read more >>
• EU Statement on the 18th Package of Sanctions Against Russia: On June 10, the European Commission's High Representative/Vice-President Kallas, together with President von der Leyen, issued a statement indicating that the next round of EU sanctions against Russia will focus on reducing Russia's energy revenues, targeting its shadow fleet of oil tankers, lowering the oil price cap, sanctioning the Nord Stream pipelines, and expanding restrictions on the banking and military sectors, including companies in third countries. These measures aim to further weaken Russia's economy by increasing costs, limiting access to financial systems, and restricting the supply of dual-use goods. Read more >>
• EU’s Advocate General Deems Lawful the Criteria for Listing Leading Businesspersons Under EU Sanctions: By its opinion issued on June 5, Advocate General Laila Medina proposed that the Court of Justice dismiss the appeals against their listing brought by five businesspersons – Dmitry Arkadievich Mazepin, Dmitry Alexandrovich Pumpyanskiy, Tigran Khudaverdyan, Viktor Filippovich Rashnikov, and German Khan –, insofar as they seek to contest the General Court's interpretation of listing criterion (g) of Article 2(1) of Council Decision 2014/145/CFSP. In all five Opinions, the Advocate General explained that the term "leading businesspersons" in that criterion should be interpreted as referring to the significance of the businessperson in the economic sector in which they are involved and within which they are capable of exerting influence. The term does not require the Council to demonstrate any influence by the person concerned over the Government of the Russian Federation, nor a link between that person and the regime of that country. Read more >>, Read more >>, Read more >>, Read more >> and Read more >>
• EU's General Court Dismisses Action Against EU Sanctions Brought by Alfa Bank and German Khan: By its judgments delivered on June 4, the General Court dismissed the actions brought by Alfa Bank and Mr. German Khan challenging their listings. Read more >> and Read more >>
• EU's General Court Annuls Previous Sanctions Listing of Vyacheslav Aleksandrovich Boguslayev: By its judgment delivered on June 4, the General Court annulled the March 2024 listing of former Ukrainian Member of Parliament Mr. Vyacheslav Aleksandrovich Boguslayev. Read more >>
• EU Commission Updates its Guidance on Targeted Vessels: On June 18, the European Commission updated its guidance regarding Article 3s of Council Regulation 833/2014. The update clarifies whether a vessel listed in Annex XLII and carrying dangerous or polluting goods – such as oil – at the time it is targeted may be granted access to ports and permitted to use port services for the purpose of unloading its cargo. Read more >>
• EU Commission Comments on Funds Transferred to Russia Before the Invasion of Ukraine: The European Commission was asked to address reports on billions of euros being transferred in cash to Russia before Russia’s invasion of Ukraine. It has been reported that Deutsche Bank alone transferred more than EUR 2 billion in cash to Russia during 2022. The Commission stated that, since March 2022, the EU has adopted recent measures focusing on reinforcements of existing sanctions in place since 2014, addressing circumvention and cutting the remaining revenues that Russia draws from its exports. As a result, approximately EUR 28 billion in private assets have been frozen, and over EUR 200 billion in Russian Central Bank assets have been immobilized within the EU. The Commission continues to monitor and provide guidance to Member States on the implementation of sanctions, with a particular focus on preventing circumvention in the financial sector. Read more >> and Read more >>
• EU Commission Comments on Russian Shadow Fleet and Oil Imports: The European Commission was questioned about its use of Vortexa's oil and gas tanker data concerning Russia's shadow fleet, as well as the implications of Russian oil being refined in India and subsequently imported into the EU. In response, the Commission clarified that the EU has designated 342 vessels, including some from Russia's shadow fleet, for their role in supporting Russia's warfare against Ukraine and circumventing the oil price cap. The EU is collaborating with Member States, international partners, flag states, and third countries to dismantle these networks and increase awareness of the risks associated with the shadow flee. Regarding the import of oil products, the Commission explained that when Russian oil is exported to countries such as India, refined there, and then re-exported to the EU as a new product, it is not considered to be of Russian origin under EU rules. Therefore, these imports do not violate EU sanctions. Additionally, such imports account for only a small fraction of the EU's overall demand for refined oil products. Read more >> and Read more >>
• Some Countries are Said to Undermine Western Sanctions Against Russia: A study using UN trade data found that, after the war in Ukraine began, countries friendly to Russia were 20 percentage points more likely to export sanctioned military goods to Russia than neutral countries. The study also found that Western countries were four percentage points more likely to export these sanctioned products to Russia-friendly countries compared to exports to neutral countries. Although violations of sanctions were more common in 2022 than in 2023, the study highlights the need for stricter measures, such as secondary sanctions, to close loopholes and prevent circumvention through third countries. Read more >>

III. UK Sanctions

• UK government adds 10 new entries and specifies 20 ships under the Russia regime: On June 17, he UK government added 10 new parties and specified 20 ships under the Russia regime. This includes individuals and entities involved in supporting the Russian energy, financial and extractives sectors, as well as ships involved in the transportation of Russian oil. Read more >> and Read more >>
• UK government removes Aleksey Leonidovich Fisun from the UK sanctions list under the Russia regime: On June 13, the UK government revoked the asset freeze targeting Aleskey Leonidocivh Fisun under the Russian Sanctions Regime. Read more >>
• UK government amends GTLK General Licence: On June 12, the UK government amended General Licence INT/2023/3263556, which authorises certain activities relating to the insolvency of GTLK. The changes to the General Licence included the addition of: regulation 18A to the regulations that are exempt under the General Licence; certain new definitions; and a new reporting requirement. The following day, OFSI also made a clarificatory change to Permission 4.2 under the General Licence. Read more >> and Read more >>
• UK High Court finds in favour of aircraft lessors and rejects EU and US defence by insurers in $1 billion sanctions case: On June 11, the UK High Court handed down judgment in a case involving insurance policy claims by various aircraft lessors (Aercap, DAE, Falcon, Merx and Genesis) in joined claims against their insurers in relation to the loss of more than 100 aircraft that had been on lease to Russian airlines at the onset of Russia’s full scale invasion of Ukraine.  In September 2022, the Russian Government declared that it would be retaining lease aircraft located in Russia.  The High Court found that the claimants can make recoveries from their insurers under the policies.  The High Court also rejected submissions made on behalf of the insurers that US and EU sanctions respectively precluded payment under the claims.  The claimants are expected to recover more than US$ 1 billion following the judgment. Read more >>
• UK High Court grants anti-suit and anti-enforcement injunctions in favour of JPMorgan in VTB case: On June 5, JPMorgan Chase obtained an anti-suit and anti-enforcement injunction against VTB in the UK High Court.  The underlying contracts at the heart of this case incorporated LCIA arbitration agreements.  However, VTB commenced proceedings in the Russian courts in relation to events of default that were declared under the contracts owing to sanctions imposed against VTB.  The High Court held that the proceedings in the non-contractual forum were either in breach of the contractual agreements to arbitrate and/or ‘vexatious and oppressive’. Read more >>
• UK Government threatens actions against Roman Abramovich: On June 3, the UK Government threatened legal action against Roman Abramovich to ensure the £2.5bn from the sale of Chelsea Football Club is used exclusively for humanitarian aid in Ukraine, as the funds have been frozen due to a dispute over their allocation. While Abramovich wants the money to benefit all victims of the war, including Russians, following a question in parliament, Rachel Reeves and David Lammy issued a statement that the UK Government is determined to use the proceeds “reach humanitarian causes in Ukraine”. Read more >> and Read more >>
• UK Government amends seven entries on UK sanctions list under the Russia regime: On May 28, the UK Government amended seven entries for one individual (Igor Bystrov) and six entities on the UK sanctions list under the Russia regime. Read more >>
• UK warns Russia of further sanctions if no ceasefire is agreed in statement to OSCE: On May 28, Lt Col Joby Rimmer, UK Military Advisor, made a statement to OSCE condemning Russia’s ongoing invasion of Ukraine and reaffirming its support for Ukraine. The statement highlighted the severe humanitarian and economic consequences of Russia’s actions, pledged continued aid for Ukraine’s recovery, and warned of increased sanctions if Russia does not agree to a ceasefire. Read more >>

IV. Russia/Ukraine Sanctions

• Ukraine imposes sanctions on Russian, Chinese and Belarusian companies involved in drone production: On June 20, President Zelenskyy passed Decree No. 415/2025 which imposed sanctions on 56 individuals and 55 Russian, Chinese and Belarusian companies involved in the production of Russian drones and sanction circumvention. The annexes to the decree state that all the individuals are Russian citizens. The sanctions were in response to Russian escalation of drone attacks in Ukraine. Read more >>
• Aeroflot to build jet engine repairs plant in 2028 as sanctions spark concerns: On June 4, Aeroflot CEO Sergei Aleksandrovsky announced that it has created a new company to build a jet engine repair facility in 2028 as Western sanctions have caused concern about a growing number of malfunctions since the Russian invasion of Ukraine in 2022. The plant is intended to perform up to 70 major engine repairs each year, which is required to counter the impact on the supply of aircraft and aircraft components of US and EU sanctions. Read more >>

V. Other Notable Developments

• Australia Sanctions 37 Persons and 7 Entities Pursuant to Its Russian Sanctions Regulations: On June 26, Australia’s Department of Foreign Affairs and Trade announced the imposition of Russia-based sanctions on 37 persons and 7 entities, including Russian pop singer, Yaroslav Dronov, known by the stage name Shaman, as well as executives from several Russian companies. Read more >>
• New Zealand Targets North Korean Military Support for Russia with New Sanctions: On June 19, New Zealand announced new sanctions targeting North Korean military support for Russia’s invasion of Ukraine, including arms shipments for Russia’s war effort. The new sanctions will cover an additional 18 individuals and entities connected to Moscow’s military-industrial network, as well as 27 vessels linked to a “shadow fleet” that transports Russian oil and helps circumvent oil price caps. Read more >>
• Canada Announces New Sanctions Package Against Russia: On June 17, Canada announced a new sanctions package against Russia, which targeted 77 individuals, 39 entities, and 201 ships in Russia’s “shadow fleet,” including oil and gas tankers and cargo ships. Read more >>