Worldwide: Export Controls & Trade & Investment Sanctions

On October 15, 2025, the United Kingdom imposed major new sanctions targeting Russia's oil industry, including asset freezes on Rosneft and Lukoil, the country's two largest oil companies. A week later, on October 22 and despite an ongoing government shutdown, the United States followed suit by issuing parallel sanctions on both entities.

In a major shift in the second Trump Administration's Russia policy, on 22 October 2025 the U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) imposed blocking sanctions on Rosneft...

The Sanctions Update, compiled by attorneys from Steptoe's award-winning International Regulatory Compliance team and the Stepwise: Risk Outlook editorial team...