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On 16 December 2024 the Council of the European Union adopted Council Regulation (EU) 2024/3192 amending Regulation (EU) 833/2014, the 15th package of restrictive measures against Russia. The package adds 84 asset-freeze listings (54 individuals and 30 entities) under Regulation 269/2014 — for the first time including fully-fledged designations of seven Chinese individuals and entities supplying drone components, machine tools, and dual-use goods to the Russian military-industrial complex. It expands the EU shadow-fleet vessel- ban list by 52 tankers (total 79), activates the standalone EU hybrid- threats sanctions regime with its first 16-individual / 3-entity designations, extends the wind-down derogation for divestment from Russian subsidiaries to 31 December 2025, and reinforces anti- circumvention contractual clauses on EU exporters of dual-use goods.

FinCEN issued a final order, published in the Federal Register on 11 October 2024 (signed 26 September 2024), prohibiting US covered financial institutions from engaging in transmittals of funds to or from PM2BTC, a virtual-currency exchange operating outside the United States and identified as a primary money-laundering concern in connection with Russian illicit finance. The order is the first use of FinCEN's special- measure authority under Section 9714(a) of the Combating Russian Money Laundering Act, as amended by the FY 2022 NDAA (codified at 31 U.S.C. 5323). The action was coordinated with same-day OFAC SDN designations of related entities (Cryptex) and individuals (Sergey Sergeevich Ivanov of Taleon Holdings).

The US Treasury's Office of Foreign Assets Control (OFAC) published in the Federal Register reporting instructions implementing Section 104(a) of the Rebuilding Economic Prosperity and Opportunity (REPO) for Ukrainians Act (P.L. 118-50, Division F, enacted April 24, 2024). All US financial institutions at which Russian sovereign assets are located — or that know or should know of such assets, including in correspondent or payable-through accounts — must report those holdings to OFAC using Form TD-F 93.09. Initial reports were due by August 2, 2024, with rolling reports required within 10 days of detecting newly identified Russian sovereign assets. The notice is the predicate step for any future US seizure or transfer of frozen Russian central bank, National Wealth Fund, or Russian Ministry of Finance assets to benefit Ukraine.

On 24 June 2024 the Council of the European Union adopted Council Regulation (EU) 2024/1745, the 14th package of restrictive measures against Russia, amending Regulation (EU) 833/2014. The package introduces the EU's first targeted measures against Russian LNG (a ban on EU-port transhipment to third countries after a 9-month transition, and a prohibition on EU investment and goods/services exports to Russian LNG projects under construction such as Arctic LNG 2 and Murmansk LNG), bans EU entities outside Russia from using the SPFS Russian financial-messaging system, designates 27 named "shadow-fleet" tankers under a new vessel-specific port-access ban, and imposes a "best-efforts" obligation on EU parents to ensure non-EU subsidiaries do not engage in sanctions circumvention. It adds 116 new listings (69 individuals, 47 entities), including third-country circumvention enablers, to the asset-freeze and travel-ban regime.

OFAC final rule (FR Doc 2024-11618, 89 FR 46518) amending the Cuban Assets Control Regulations at 31 CFR Part 515 to further implement the May 2022 Biden administration policy of expanded support for the Cuban people. The rule reinstates the "U-turn" general license (authorizing US banks to process funds transfers that originate and terminate outside the US, neither originator nor beneficiary a US person); replaces "self-employed individual" with the broader "independent private sector entrepreneur" (covering Cuban private businesses up to 100 employees, including private cooperatives); authorizes Cuban nationals in the private sector and located in Cuba to open and operate accounts at US financial institutions (including via online/mobile banking); and expands authorizations for internet-based services to support Cuban civil society and private-sector entrepreneurs. Effective 29 May 2024.

The U.S. Treasury's Office of Foreign Assets Control (OFAC) issued a final rule amending 31 CFR § 560.540 of the Iranian Transactions and Sanctions Regulations (ITSR) to incorporate, with amendments, General License (GL) D-2 — originally issued on OFAC's website on September 23, 2022 — which authorizes the export, reexport, and provision of certain services, software, and hardware incident to communications over the internet to persons in Iran. The codification preserves the GL D-2 expansion (cloud-based services; third-country importation of hardware/software previously exported to Iran; ex-Iran installation, repair and replacement services; case-by-case licensing for internet-freedom activities) and updates the § 560.540 List of Services, Software, and Hardware Incident to Communications. Effective June 17, 2024, the List is amended to exclude laptops, tablets, and personal computing devices with an Adjusted Peak Performance (APP) exceeding 1 Weighted TeraFLOP (WT) — narrowing the consumer-electronics authorization to lower-performance devices and aligning the carve-out with broader BIS-style compute thresholds. The rule does not relax primary ITSR prohibitions; it codifies a humanitarian / internet-freedom exception while inserting a narrow high-performance-compute carve-out.

The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) published in the Federal Register "Directive 1 under Executive Order 14014, 'Prohibitions Related to Financial Services to or for the Benefit of Myanma Oil and Gas Enterprise.'" The Directive — originally issued on OFAC's website on 2023-10-31 with a 2023-12-15 effective date — determines that MOGE is a political subdivision, agency, or instrumentality of the Government of Burma and prohibits U.S. persons from providing, exporting, or reexporting, directly or indirectly, financial services to or for the benefit of MOGE. The Federal Register publication codifies notice of the Directive in the formal record of agency action; the underlying prohibition has been operative since December 2023.

OFAC issued two determinations under Executive Orders 14068 and 14071 banning the import into the United States of Russian-origin aluminum, copper, and nickel produced on or after April 13, 2024, and separately prohibiting the provision of warranting/deliverable services for these metals on global exchanges (LME, CME) and their use to settle over-the-counter derivative contracts. Metal produced before the effective date is grandfathered. The action was coordinated with the United Kingdom, which imposed parallel exchange-listing prohibitions the same day, following G7 statements on reducing Russia's metals revenue.

On 29 February 2024 Switzerland's WBF decided to align with the EU's 13th Russia sanctions package by amending the Ordinance on Measures in Connection with the Situation in Ukraine (SR 946.231.176.72), effective 1 March 2024 at 18:00 CET. The amendment adds over 100 individuals and nearly 90 entities — mainly Russian military-industrial-complex firms and suppliers of DPRK-sourced weapons to Russia — to the asset-freeze and designation lists, and extends the dual-use/military-technology export ban to 27 additional companies believed to be circumventing existing controls.

Canada made SOR/2024-32, Regulations Amending the Special Economic Measures (Russia) Regulations, registered and effective 2024-02-21 on the second anniversary of Russia's invasion of Ukraine. The regulations add 163 persons to Schedule 1 — 10 individuals and 153 entities, predominantly Russian organizations tied to military-industrial production, logistics, insurance and oil-sector support — triggering Canadian dealing/asset bans. A parallel amendment to Schedule 7 adds five new goods categories under the Harmonized System (explosives and pyrotechnics; data-processing units and components; ball and roller bearings; semiconductor manufacturing equipment; optical and navigational instruments), banning their export to Russia or Russian persons.

OFAC amended § 510.512 of the North Korea Sanctions Regulations (31 CFR Part 510) to broaden the scope of authorized humanitarian activities for NGOs operating in North Korea, including permitting transactions with certain Government of North Korea entities where necessary to deliver authorized services. Three new general licenses were added: one for exports and re-exports of items licensed by the Commerce Department; one for agricultural commodities, medicine, and medical devices; and one for journalistic activities in North Korea. NGOs relying on the authorization must notify the State Department at least 30 days before commencing activity.

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.