Russia/Ukraine Sanctions Update - Month of June 2026

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

I. US Sanctions 

• U.S. Secretary of State Celebrates Russia National Day: On June 12, U.S. Secretary of State, Marco Rubio, issued a statement congratulating the Russian people on Russia Day. In his statement, Secretary Rubio emphasized the U.S. “remains committed to advancing a peaceful solution to the Russia-Ukraine war.” Read more >>
• OFAC Extends General Licenses for Sakhalin-2 and Civil Nuclear Energy Projects: On June 11, the Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) issued two amended Russia-related general licenses. General License 55F, “Authorizing Certain Services Related to Sakhalin-2,” extends the authorization through 12:01 a.m. eastern standard time, December 18, 2026, for certain transactions relating to the Sakhalin-2 project, including the maritime transport of raw materials originating from the project solely for importation into Japan, certain transactions involving Gazprombank Joint Stock Company (“Gazprombank”), or any entity in which Gazprombank owns, directly or indirectly, a 50 percent or greater interest, that are related to the Sakhalin-2 project. General License 115D, “Authorizing Certain Transactions Related to Existing Civil Nuclear Energy Projects,” extends the authorization of certain transactions with specified entities, including Gazprombank, relating to civil nuclear energy through 12:01 a.m. eastern standard time, December 18, 2026. OFAC also amended eight Russia-related Frequently Asked Questions. Read more >>
• OFAC Announces $1 Million Settlement with FTI Consulting, Inc.: On June 1, OFAC announced a settlement with FTI Consulting, Inc. (“FTI”) to resolve alleged violations of OFAC sanctions targeting Russia's financial sector. Specifically, OFAC alleged that between April 2019 and May 2021, FTI indirectly dealt in prohibited debt of VTB Bank OAO, a Russian state-owned bank on OFAC's Sectoral Sanctions Identification List, on six occasions. OFAC indicated that the settlement amount reflects OFAC’s determination that FTI’s conduct was non-egregious and not voluntarily self-disclosed. Read more >>

II. EU Sanctions

• EU Adoptes “Mini” Sanctions Package Against Russia: On June 15, the European Union adopted a “mini” sanctions package targeting Russia, delivering on the European Commission’s announcement that it would now impose sanctions on a “rolling” basis to increase their effectiveness. This initiative is separate from the more comprehensive 21st sanctions package, which was presented by the European Commission on 9 June 2026, and is still under discussion between Member States. The mini package is essentially limited to new designations under asset freeze measures and prohibitions to make assets available, but also introduced an important derogation allowing EU operators to wind down or phase out their relationships with Yangzhou Yangjie Electronic Technology Co., Ltd., a Chinese chip trader notably supplying the automotive and defence industries, designated under the 20th Russia sanctions package on 23 April 2026. Read more >>, Read more >>, Read more >>, Read more >>, Read more >>, Read more >>, Read more >>, Read more >>, and Read more >>
• EU Updates FAQs on the Import Ban on Refined Products Obtained from Russian Crude Oil: On June 15, the Commission updated its FAQs on the sanctions against Russia and Belarus, with a focus on Article 3ma of Council Regulation (EU) No 833/2014, which establishes the import ban on refined products obtained from Russian crude oil. Read more >>
• Establishment of an International Claims Commission for Ukraine: On June 17, the EU approved the Convention Establishing an International Claims Commission for Ukraine. The Claims Commission is set up as an administrative body within the framework of the Council of Europe, tasked with reviewing, assessing and deciding on claims for compensation for damage, loss or injury caused by internationally wrongful acts committed by the Russian Federation in or against Ukraine. Read more >> and Read more >>
• Commission Answer on the Operation of the Rosneft-Owned Schwedt Refinery in the EU: In an answer given by the Commissioner for Financial Services, Ms Albuquerque, the Commission addressed the continued operation of the Rosneft-owned PCK Schwedt refinery, located near Berlin, in the context of EU sanctions against Russia. The Commission explained that the sanctions include a transaction ban on Russian state-owned entities such as Rosneft, whose subsidiaries still predominantly own the PCK Schwedt refinery; transactions with those subsidiaries are, however, exempted because the German Government has imposed a public trusteeship preventing Rosneft from receiving any economically valuable benefit. The Commission noted comparable assets elsewhere, including Lukoil-owned refineries in Bulgaria and Romania that operate under strict government supervision blocking or limiting financial flows to Russia, and a minority stake in a refinery in the Netherlands, adding that Lukoil is in the process of selling its assets globally. Finally, the Commission recalled that the import of seaborne Russian crude oil into the EU is generally prohibited, subject to a pipeline exception for certain Member States, and that Poland and Germany have not been able to legally import Russian crude oil via pipeline since 23 June 2023; Member States must also submit diversification plans under the RePowerEU Regulation by 2027 on how to fully phase out Russian oil. Read more >> and Read more >>
• Commission Answer on Operations Against Russia's Shadow Fleet: In a written question, MEP Siegbert Frank Droese asked whether the Commission had any information on Ukrainian state actors setting fire to, exploding or sinking vessels belonging to Russia's so-called shadow fleet (which sail under non-EU flags), and how the Commission assessed such military action under international and maritime law. In her reply of June 1, High Representative/Vice-President, Ms Kallas, reaffirmed the EU's commitment to a maritime order based on international law, including UNCLOS, and framing Russia's shadow fleet, drifting mines and data-jamming as regional security challenges requiring a collective response. She outlined the EU's strategic approach to the Black Sea, including a new Black Sea Maritime Security Hub and successive Council restrictive measures targeting the shadow fleet's enablers, and noted continued work with third countries and partners under the EEAS shadow fleet coordinator to make the fleet's operations more costly. Read more >> and Read more >>
• EU's General Court Dismisses Action Against EU Sanctions Brought by Three Individuals: By its judgments delivered on June 10, the General Court dismissed action against EU sanctions brought by Anastasia Ignatova, Elena Petrovna Timchenko and Gennady Nikolayevich Timchenko. Read more >>, Read more >>, and Read more >>
• EU's General Court Dismisses Action Against EU Sanctions Brought by Belaruskali AAT and Others: By its judgments delivered on June 18, the General Court dismissed action against EU sanctions brought by Belaruskali AAT, Mr Ivan Ivanovich Golovaty and Belarusian Potash Company AAT. Read more >>
• Russia Reportedly Purchased German Engines for FSB Boats: According to press reports, Russia procured German-made engines for FSB patrol boats in circumvention of EU sanctions, relying on a network of intermediaries in Turkey and Hong Kong to disguise the true destination of the shipments. Investigators report that the engines manufactured by MAN were destined for the Almaz shipyard in St. Petersburg, where patrol boats are built for the FSB border service. The Turkish shipyard Vicem Yachts reportedly purchased the engines from a local MAN subsidiary and provided a written guarantee that the equipment would remain in Turkey and would not be re-exported to Russia. In practice, the engines were transferred on paper to two Hong Kong companies, Hongkong Pokwing and Scorpion's Holding Group, while the containers were actually unloaded in St. Petersburg. Through this scheme, Russia is believed to have received at least six engines for its "Sobol" project patrol boats. Read more >>
• Russian Businessman Sentenced in Belgium Sanctions Case: A Brussels court sentenced Belgian-Russian national Victor Labin to five years in prison for illegally exporting dual-use goods and chemicals to Russia, finding that he played a central role in shipping more than 400 tonnes of goods, including sensors used to detect and control explosions and chemicals such as yttrium oxide, a raw material used in advanced technologies, to Russia. The court found that Labin and a Brussels-based entrepreneur falsified customs documents and routed shipments through companies in Turkey, Kazakhstan and Uzbekistan to conceal their final destination, and it described the offence as a "political crime".   His son, Ruslan Labin, was sentenced in absentia to six years' imprisonment. Read more >>

III. UK Sanctions

• OFSI amends Lukoil General Licence INT/2025/8031092: OFSI amended General Licence INT/2025/8031092 to remove the requirement that funds made available, either directly or indirectly, to or for the benefit of Lukoil International GmbH or a Lukoil International subsidiary must be paid into a frozen account. OFSI issued FAQ 196 further explaining the amendment. Read more >> and Read more >>
• OFSI fines Sabre Global Technologies for breach of Russia Sanctions: On May 26, OFSI issued its largest ever penalty of £1,000,920 against technology firm Sabre Global Technologies ("Sabre") for breaches of the Russia (Sanctions) (EU Exit) Regulations 2019 (the "Russia Regulations"). The breaches included making funds and economic resource available to a designated Russian airline, JSC Ural Airlines, and circumvention by exploring alternative options for receiving payment from the designated airline. OFSI assessed the total breach value at £2,634,001.54 and rated the case as "most serious", with aggravating factors including Sabre not having applied for a licence, continuing to give a benefit to a designated person, high value breaches, and circumvention. The penalty is the first issued by OFSI for a circumvention offence. Read more >> and Read more >>
• FCDO announces 70 new sanctions designations under the Russia Regulations: On June 16, the FCDO designated 27 ships, 32 entities, and 11 individuals said to be related to the Russian oil trade and defence sector. These sanctions target Russia's shadow fleet, military procurement supply chains, and finance networks used to circumvent sanctions. Read more >> and Read more >>
• OFSI publishes new FAQs on UK financial sanctions and PJSC Transneft: On June 11, OFSI published eight new FAQs (188-195) clarifying how UK economic sanctions apply in relation to PJSC Transneft and associated activities. Read more >>
• OFSI adds FAQ on "date of issue" rules for transferable securities under Russia and Belarus sanctions: On June 8, OFSI published a new FAQ (FAQ 187) addressing how to determine the "date of issue" of transferable securities and money market instruments for the purposes of the Russia and Belarus sanctions regulations, including where instruments or securities issued pursuant to a mandatory corporate action (MCA) relate to securities or instruments issued prior to the dates referred to in the relevant regulations. Read more >>
• OFSI updates sanctions guidance on Huobi Global SA: On May 29, OFSI added FAQ 186 on Huobi Global SA, which was added to the UK Sanctions List on 26 May 2026. The FAQ states that OFSI considers that the HTX cryptocurrency exchange is subject to the UK’s financial sanctions due to its ownership by Huobi, meeting the condition in regulation 7(2)(a) of the Russia Regulations. Read more >>

IV. Russia/Ukraine Sanctions

• Ukraine Extends the Sanction Lists: In June 2026, Ukraine extended the sanctions to 27 legal entities and 29 individuals. The sanctions cover Russian companies providing cell phone and Internet services in the occupied territories. The full list of the sanctioned persons is available at the website of the State Sanctions Register of Ukraine. Read more >>
• Supreme Court of Russia Publishes a Legal Guidance on Economic Restrictions: The published review sets out the Russian Supreme Court’s guidance on how commercial courts should apply special economic measures introduced to protect Russia’s national interests in response to actions by “unfriendly” states. The review states that transactions, payments, and legal arrangements designed to bypass government approvals or special payment procedures may be declared void as contrary to public policy and national security. The review also clarifies a number of issues regarding intellectual property disputes, investment disputes, licensing and other issues. Read more >>
• Euroclear Challenges RUB 26.8 Billion Judgment in Sberbank Dispute Before the Russian Commercial Court: Belgium-based Euroclear has filed a cassation appeal against a Russian court decision ordering it to pay approximately RUB 26.8 billion to Sberbank in a dispute related to assets frozen under international sanctions. The case is part of a broader wave of litigation by Russian financial institutions and investors seeking compensation from European depositories, including Euroclear and Clearstream, for losses linked to blocked securities and assets. The appeal will be heard by the Moscow District Arbitration Court on 5 August, amid growing legal claims against Euroclear, including major actions by the Central Bank of Russia concerning frozen reserves. Read more >>
• Russia Approves Sale of 10% Stake in Arctic LNG 2 from TotalEnergies: Russian President Vladimir Putin has authorized Russian company NordLine to acquire the 10% stake in Arctic LNG 2 currently held by TotalEnergies, under Russia’s special economic measures governing transactions involving investors from “unfriendly” jurisdictions. Arctic LNG 2, led by NOVATEK, is a major Arctic liquefied natural gas project designed to produce up to 19.8 million tonnes of LNG annually through three production trains. If completed, the transaction will replace TotalEnergies’ participation with NordLine while leaving the project’s other shareholders, including Chinese and Japanese partners, unchanged. Read more >>

V. Other Notable Developments

• Canada Announces Additional Sanctions Against Russia: On June 12, Canada announced the imposition of additional sanctions on seven individuals and thirty-four entities, including those determined to be Russian senior leadership and related entities supporting the Russian defense-industrial base and revenue-generating strategic sectors, particularly energy, nuclear services, and financial enablers, including cryptocurrency. Canada also added sanctions on 121 vessels from Russia’s shadow fleet. Read more >>