Corporate tax in the UAE
In January 2022, the Ministry of Finance (Ministry) of the United Arab Emirates (UAE) announced its intention to…
The US Treasury Department’s Office of Foreign Assets Control (OFAC) published further designations of Russian individuals and entities on March 31st 2022.
The new designations to the SDN list involve, among others, major Russian front and network companies. Apart from the newly designated entities, individuals acting on behalf of or for being officials, senior executives, leaders or board members of these designated entities have also been sanctioned by OFAC. Furthermore, designations have also been imposed based on several companies role in acquiring dual use products. OFAC also designated a number of electronics and communications companies due to their activity in the Russian technology sector and for their support of the RF’s war efforts.
Moreover, on this day, a Determination was issued by the US Treasury Secretary, according to E.O. 14024, which extends sanctions to companies in the Russian marine, aerospace and/or electronics sectors. This Determination didn’t impose sanctions on these companies yet, however it does pave the way for their future imposition. More information on the measures imposed by the US on March 31st 2022 can be found here.