Industrial Policy & Trade Monitor· 2665 actions· ✨ 90 recent

On 20 June 2025, the US Treasury's Office of Foreign Assets Control designated four individuals, twelve entities, and two vessels in what Treasury called its single largest action to date against Iran-backed Ansarallah (the Houthis), pursuant to Executive Order 13224 as amended. The designated network — Sana'a- and Hudaydah-based oil-trading front companies (including Black Diamond Petroleum Derivatives, Star Plus Yemen, Tamco Establishment, Royal Plus Shipping, and Abbot Trading) and their Houthi operator-owners — facilitates black-market oil and oil-derivative sales that fund Houthi militant operations, while shipping firms Best Way Tanker Corp, Ocean Voyage LLC, and Atlantis M. Shipping Co were designated for discharging over 120,000 combined metric tons of gasoline and LPG at the Houthi-controlled Ras Isa port via the vessels Valente and Atlantis MZ after the April 2025 expiration of Counter Terrorism General License 25A. The action builds on OFAC's June 2024–April 2025 cadence of designations against Houthi leaders, weapons-procurement operatives, and suppliers.

On 29 June 2024 the Council of the European Union adopted Council Regulation (EU) 2024/1865 and Council Decision (CFSP) 2024/1864, amending Regulation (EC) No 765/2006 to extend Belarus's sanctions regime so that it mirrors the restrictive measures already in force against Russia, closing routes used to circumvent the Russia sanctions via Belarus. The package bans the import of gold, diamonds, helium, coal and other mineral products (including crude oil) originating in or exported from Belarus; bans the import of goods and technology on the EU Common Military List if of Belarusian origin; extends the export ban on dual-use goods, oil-refining and LNG-liquefaction equipment, maritime-navigation goods and luxury goods to Belarus; prohibits transit via Belarus of EU-exported firearms and ammunition; and broadens the road-transport ban. The measures entered into force on 1 July 2024, the day after publication in the Official Journal.

On 31 January 2024 Switzerland's Federal Council decided to align with the EU's 12th sanctions package (adopted 18 December 2023) by amending the Ordinance on Measures Relating to the Situation in Ukraine (SR 946.231.176.72), entering into force the same day at 18:00. The update extends Switzerland's Russia-sanctions perimeter to match the EU's additions — including the Russian diamond, steel and other import-revenue restrictions — and adds a new financial-sector prohibition barring Russian nationals and Russia-resident individuals from controlling Swiss crypto-asset service providers, aimed at closing sanctions-circumvention and enforcement gaps.

The Council of the EU adopted Council Regulation (EU) 2023/2878 of 18 December 2023, the EU's 12th sanctions package against Russia, entering into force 19 December 2023. The package introduces a direct EU import ban on Russian non-industrial natural and synthetic diamonds and diamond jewellery effective 1 January 2024, followed by a phased indirect ban on Russian diamonds processed in third countries (from 1 March 2024, complete by 1 September 2024), developed as part of a G7-coordinated diamond restriction. The package also extends import bans on steel and other products generating significant revenue for Russia, and adds further trade and economic restrictions.

OFAC reissued the Central African Republic Sanctions Regulations (31 CFR Part 553) in their entirety on 29 September 2022, replacing the abbreviated framework first published on 7 July 2014 under Executive Order 13667. The reissuance adds interpretive guidance, definitions, and general licenses — including provisions for humanitarian assistance, personal communications, and non-commercial personal remittances — without expanding the underlying substantive sanctions perimeter. The action is primarily a regulatory codification that provides compliance clarity for financial institutions and other US persons transacting with or near CAR.