Last week, the U.S. Treasury Department’s Office of Foreign Assets Control (“OFAC”), the EU Council, and Canada imposed further sanctions targeting Russian individuals and entities allegedly involved in the escalation of...more
3/22/2019
/ Australia ,
Banks ,
Blocked Entities ,
Blocked Person ,
CAATSA ,
Canada ,
CBW Act ,
Economic Sanctions ,
EU Council of Ministers ,
Executive Orders ,
Legislative Agendas ,
Liquid Natural Gas ,
Office of Foreign Assets Control (OFAC) ,
Oil & Gas ,
Popular ,
Russia ,
SDN List ,
Ukraine ,
US State Departments ,
Venezuela
On August 24, 2018, the U.S. Department of State announced a new but limited export licensing policy for defense and national security-sensitive goods and technology to Russia, effective August 27, 2018. The export licensing...more
8/27/2018
/ Chemical Weapons ,
Economic Sanctions ,
Export Controls ,
Exports ,
Financial Institutions ,
Foreign Exchanges ,
Foreign Subsidiaries ,
Government Officials ,
Legislative Agendas ,
National Security ,
Russia ,
State-Owned Enterprises ,
UK ,
US State Departments
The upper house of the Russian Parliament, the Federation Council, approved a draft law on counter-sanctions (the “Counter-Sanctions Law”) on May 30, 2018, which appears to be identical to the version adopted by the Duma last...more
6/1/2018
/ Blocked Person ,
Compliance ,
Counter Sanctions ,
Criminal Liability ,
Economic Sanctions ,
Exports ,
Financial Transactions ,
Imports ,
Proposed Legislation ,
Russia ,
SDN List
Second Draft Somewhat Softens Previous Provisions Widely Reported In Media -
In response to the most recent round of U.S. sanctions against Russian entities and individuals, which were arguably the most profound in terms of...more
The Office of Foreign Assets Control (OFAC) of the U.S. Department of the Treasury issued updated general licenses and related guidance in connection with sanctions imposed in April on certain Russian individuals and entities...more
The Trump Administration, on April 6, 2018, imposed sanctions on a number of Russian oligarchs with vast business interests, Russian government officials, officers of Russian state-owned enterprises, and related companies....more
As required under the Countering America’s Adversaries Through Sanctions Act (“CAATSA”), the Trump Administration on Monday released an unclassified version of a report (the “Report”) identifying senior political figures and...more
1/31/2018
/ Anti-Corruption ,
Anti-Money Laundering ,
Banks ,
Blocked Entities ,
Blocked Person ,
CAATSA ,
Economic Sanctions ,
Russia ,
SDN List ,
Trump Administration ,
US State Departments
Dechert London’s International Trade and EU Law Team with the support of the Russo-British Chamber of Commerce recently hosted a roundtable discussion on the sanctions against Russia. ...more
Russian President Vladimir Putin has recently signed into law certain amendments to Federal Law No.149-FZ on Information, Information Technologies and Protection of Information (the “IT Law”). The measures introduced by Law...more
Yesterday, President Trump signed H.R. 3364, the “Countering America’s Adversaries Through Sanctions Act,” enacting into law limited additional sanctions against Russia and, critically, restricting his ability to suspend or...more
After weeks of discussion and procedural uncertainty, the U.S. House of Representatives passed new legislation by a vote of 419–3 that, if enacted into law, will strengthen existing sanctions against Russia and also impose...more
7/29/2017
/ Congressional Authority ,
Cyber Attacks ,
Economic Sanctions ,
Energy Sector ,
Foreign Relations ,
Hackers ,
Iran ,
Iran Sanctions ,
North Korea ,
Pending Legislation ,
Russia ,
SSI List ,
Trump Administration
The U.S. Treasury Department’s Office of Foreign Assets Control (“OFAC”) imposed sanctions on additional Russian and Crimean persons while also issuing a general license authorizing certain transactions with a...more
Donald Trump’s election has the potential to significantly reshape U.S.-Russia relations, but whether any change occurs will depend largely on his willingness to offer Russia a clean slate and whether the U.S. Congress...more
11/23/2016
/ Economic Sanctions ,
Embargo ,
Energy Sector ,
Food Manufacturers ,
Foreign Investment ,
International Relations ,
ISIS ,
Legislative Agendas ,
NATO ,
Pharmaceutical Industry ,
Presidential Elections ,
Russia ,
SDN List ,
SSI List ,
Stock Markets ,
Syria ,
Trump Administration ,
Ukraine ,
Vladimir Putin
- Recent amendments to Russia’s data processing rules require that databases used to process personal information of Russian citizens be located in the Russian Federation, even if the data is maintained by foreign...more
11/21/2016
/ Blocked Entities ,
Cross-Border Transactions ,
Data Localization Law ,
Data Processing Rules ,
Foreign Corporations ,
GATS ,
International Data Transfers ,
Internet Service Providers (ISPs) ,
LinkedIn ,
Personal Data ,
Physical Presence Test ,
Russia ,
WTO
A number of significant amendments to Russian labor legislation entered into force on October 3, 2016. The amendments were introduced by Federal Law No.272-FZ “On Introducing Amendments to Certain Legislative Acts of the...more
A new version of the Russian Competition Law amended by the so-called ‘fourth antimonopoly package’ (the “275 Law”) came into effect on January 5, 2016 (except for certain minor provisions with an earlier effective date). The...more
A new version of the Russian Competition Law amended by the so-called ‘fourth antimonopoly package’ (the “275 Law”) came into effect on January 5, 2016 (except for certain provisions). The 275 Law includes long-expected...more
The U.S. Department of Commerce’s Bureau of Industry and Security (“BIS”) added the Yuzhno-Kirinskoye Field, a Russian oil and gas field, to the Entity List on August 7, 2015. The action effectively prohibits all persons from...more
On July 30, 2015, the U.S. Government added dozens of Russian and Ukrainian individuals and entities to the Ukraine-related sanctions lists.1 U.S. officials have stated that these new additions are not an escalation of U.S....more
The spring and summer of 2014 saw the United States and European Union impose a range of sanctions relating to Ukraine and Russia in response to the series of events leading to the fall of the Yanukovyich government in...more
It has now been over a year since the United States and the European Union began imposing sanctions on Russian and Ukrainian individuals and entities in connection with the situation in Ukraine. The sanctions have major...more
5/20/2015
/ Debt Securities ,
Due Diligence ,
Equity Securities ,
Global Market ,
Private Equity ,
Private Equity Funds ,
Russia ,
Sanctions ,
SDN List ,
SSI List ,
Ukraine
The procedure for the accreditation of branches/representative offices of foreign companies (“Branches/ROs”) in Russia, as well as for obtaining the personal accreditation of foreign employees of such Branches/ROs, was...more
On 16 December 2014, President Obama announced that he will sign the Ukraine Freedom Support Act of 2014 (hereinafter the “Act”) into law. As discussed in our update dated 12 December 2014, the Act represents a potentially...more
As noted in previous updates, the United States and European Union continue to impose sanctions against Ukrainian and Russian individuals and entities as a result of the turmoil in Ukraine. On 11 December 2014, the US Senate...more
Since March 2014, the United States and European Union have imposed multiple rounds of sanctions restricting certain activities with Russian and Ukrainian individuals and companies as a result of the ongoing crisis in...more