Over the course of January 2022 many headlines were dedicated to the worsening security situation in Ukraine, with Western governments threatening to introduce extremely tough sanctions measures on Russia in response to any military aggression. While no new programmes have been introduced, the US, UK and EU has continued to target new actors under their existing sanctions programmes:
- The US, UK and EU have all threatened to introduce new sanctions measures on Russia in light of the escalating military tensions between Russia and Ukraine. While details of the proposed new targets are yet to be confirmed, statements by leaders in the US and UK suggest a level of coordination to introduce measures against politically significant oligarchs, major Russian financial institutions and companies operating in strategically important sectors, such as oil and gas. While legislation on new Russia sanctions is reportedly close to being finalised, it remains to be seen whether it will be introduced should the border tensions alleviate.
- In related actions, the US has sanctioned four individuals, including two serving Ukrainian MPs, for their alleged connection with the Russian security services and involvement in a plot to replace the current elected government in the country.
- The US has sanctioned further individuals under its Global Magnitsky act, which allows the US to target individuals implicated in corruption. In the latest round of sanctions, the US has targeted Bosnian co-President Milorad Dodik and a media outlet under his control.
- The US has also imposed further sanctions on individuals involved in the financing of Hezbollah. On 19th January three individuals and 10 entities were sanctioned under counter-terrorism sanctions programmes. The sanctions come at a time when Hezbollah is reportedly blocking the implementation of economic reforms in Lebanon.
- Another target of increased US sanctions pressure is Nicaragua, which is accused by the US of committing acts of violence against civilians. Six further officials were sanctioned ahead of the inauguration of President Daniel Ortega. The EU also added seven individuals and three entities to its Nicaragua sanctions programme in a move co-ordinated with the US.
- The US has also sanctioned further regime officials and private entities in Myanmar for their affiliation with the country’s military junta, which led a coup d’etat in January 2021. The UK and Canada have included the same individuals and entities in their Burmese sanctions programmes.
