Canada Expands Russia Sanctions at G7 Summit
At the 2026 G7 Leaders’ Summit, Prime Minister Carney announced a further expansion of its sanctions regime under the Special Economic Measures (Russia) Regulations (Regulations), effective June 12, 2026. The measures form part of Canada’s continuing effort to constrain Russia’s military operations and to condemn recent attacks on Kyiv. The amendments list new individuals, entities and vessels in Russia’s shadow fleet and repeal obligations held by the Minister of Foreign Affairs in relation to delisting applications.
Expansion of Designations: Individuals, Entities, and Shadow Fleet Actors
The amendments list seven individuals to Part 1 of Schedule 1 and over 30 entities in Part 2 of Schedule 1, targeting Russia’s energy revenues, defense-industrial actors, disinformation actors, and shipping participants in Russia’s shadow fleet. Designations expand beyond Russian entities and include, a Vietnamese ship owner and manager (Hung Phat Maritime Trading) which was previously sanctioned by the EU, a New Zealand based insurance company (Maritime Mutual Insurance Association (NZ) Limited) which was previously sanctioned by the UK, and UAE based ship managers (Novashipmanagement and Citrine Marine) which were previously sanctioned by the EU.
EU: Update to the EU blacklist of airlines
The European Commission has published Implementing Regulation (EU) 2026/1317, which updates the EU list of air carriers subject to a ban or restrictions on operating flights in Community airspace. These changes result from a regular review of international safety standards and a verification of the oversight of aircraft airworthiness. For the electronics and ICT sector, this regulation has an indirect but significant impact in the context of global supply chain resilience. Restrictions imposed on further cargo carriers may affect the availability of cargo space and prolong the air transport time for critical electronic components and semiconductors. Logistics departments in technology companies should review the updated list to minimise the risk of delays in the delivery of components from Asian or Middle Eastern markets. The new regulations come into force on 11 June 2026.
UK Sanctions
Tuesday 16 June 2026, the UK Government has designated the following 11 individuals and 32 entities, and specified the following 27 ships, under the Russia Sanctions Regime.
UK Sanctions
Thursday 4th June, the UK Government has revoked one entity and amended one individual, both sanctioned under the Russia Sanctions Regime.
Revoked Entity:
| Name: | Unique ID: |
| Limited Liability Company responsibility of “RBRU Specialized Depository” | RUS2682 |
Amended Individual:
| Name: | Unique ID: |
| Liran COHEN | RUS3607 |
Tuesday 09 June, the UK Government has varied the following 3 individuals and 2 entities under the Russia (Sanctions) (EU Exit) Regulations 2019.
Entities varied:
UK Expands Russia Sanctions to Further Target Shadow Fleet, Military Procurement, and Financial Networks
On 16 June 2026, the UK announced a new package of sanctions under its Russian sanctions regime. The package targets Russia’s shadow fleet, financial networks, military procurement channels, and broader support infrastructure. In total, 70 individuals and entities have been designated under the new package. The sections below summarise the key elements of the package.
New sanctions targeting Russia’s shadow fleet and maritime evasion
A central focus of the new measures is Russia’s “shadow fleet”, a network of vessels that are used to evade Western sanctions.The UK has designated 27 ships involved in transporting Russian oil or Liquified Natural Gas (“LNG”) to third countries, using new and enhanced powers introduced in May 2026. In addition to direct vessel designations, the UK has further tightened restrictions by sanctioning ship insurers and other shipping service providers. A further four entities have also been designated for supporting the Russian energy sector.The package also marks the UK becoming the first G7 country to sanction vessels that are associated with Russia’s Arctic LNG 2 Project. Overall, the UK has now sanctionedmore than 600 shadow fleet and Russian LNG vessels.
OFAC Begins to Relax US Sanctions to Implement US-Iran Memorandum of Understanding
On June 22, 2026, the US Treasury Department’s Office of Foreign Assets Control (“OFAC”) published a new general license (Iran General License X or “GL X”) as the first step in implementing the US-Iran Memorandum of Understanding (“MOU”) to end recent hostilities in the Middle East. The MOU has not been formally or officially published by US Government agencies such as the State or Treasury Departments but its text has widely been reported and confirmed in news articles such as this BBC report. GL X provides broad authorization for parties to purchase and resell Iranian crude oil, petrochemical products, and petroleum products (together, “Iranian Energy Products”).