The European Union's latest sanctions packages in relation to Russia and Belarus impose novel obligations on EU companies with respect to their foreign subsidiaries' operations....more
The European Union has again amended its sanctions against Russia and Belarus by adopting further legal acts, which put additional compliance obligations on EU companies. In particular, businesses will now have to undertake...more
Following the adoption of its 14th sanctions package against Russia, the European Union ("EU") extended the scope of its sanctions against Belarus with a view to "mirroring several of the restrictive measures already in place...more
On 22 February 2024, shortly before the second anniversary of Russia’s invasion of Ukraine, the UK government published its first sanctions strategy (the Strategy). The Strategy explains the UK’s use and implementation of...more
On Friday, 6 October 2023 the Court of Appeal handed down judgment in the case of Mints v PJSC National Bank Trust & Anr [2023] EWCA Civ 1132. This judgment is significant and is a key, albeit non-binding, indicator of the UK...more
The U.S. government is turning up the dial on its efforts to combat evasion of export controls and sanctions against Russia. The severe trade restrictions against Russia (and Belarus) have seen continuous escalation since...more
On 23 June 2023, the European Commission adopted its 11th package of sanctions targeting Russia and Belarus. The new package focuses on tackling the circumvention of trade sanctions through third countries and increasing the...more
The centrality of international trade laws in the development and execution of U.S. foreign policy has never been more evident than in 2022. Companies that have not invested in international trade compliance programs are...more
On 24 February 2023, the U.S. intensified its sanctions on Russia and released new trade control measures targeting key sectors, evasion efforts, and military supplies. Taken together, the additional sanctions, export...more
Oil price cap - The oil price cap has been co-ordinated by the G7 in order to make EU, UK and US services (including (re)insurance) available to third country importers and exporters as long as the price paid for...more
Recently, the US Department of the Treasury’s Office of Foreign Assets Control (OFAC) has taken additional actions against Russia in response to its continued invasion of Ukraine. Specifically, OFAC: ..Issued guidance...more
Since late February 2022, the United States (U.S.), the European Union (EU) and its member states, the United Kingdom (U.K.), and many others—including Japan, Australia, New Zealand, Taiwan and Canada—have imposed sweeping...more
Over the past few weeks, the US Department of the Treasury Office of Foreign Assets Control (OFAC) took additional actions in response to Russia’s continued invasion of Ukraine: ..Removed Kazakh subsidiary of Alfa Bank,...more
The Week in Review delivers information and analysis on recent developments related to sanctions against Russia and key implications for the public, private, and non-profit sectors as the United States (U.S.), the European...more
On 31 May 2022, the European Union (Undertakings for Collective Investment in Transferable Securities) (Amendment) Regulations 2022 were published in Iris Oifigiúil and will come into operation on 1 January 2023. The...more
Authored by our Global Sanctions Team On 3 June 2022, the EU adopted a new round of sanctions against Russia and Belarus, banning the purchase, import or transfer into the EU of crude oil and petroleum products originating in...more
The US continues to ramp up sanctions pressure on Russia, now emphasizing Russian efforts to evade US export controls and obligations of financial institutions to police Russian efforts at sanctions and export controls...more
Authored by our Global Sanctions Team On 10 and 29 June 2022, Switzerland expanded existing sanctions and implemented new measures in response to Russia's ongoing military aggression in Ukraine. This new sanction set is in...more
EU introduces a sixth package of sanctions On 3 June 2022, the EU adopted a sixth package of sanctions against Russia which includes economic, individual, media and diplomatic measures....more
Since last February, Russia’s invasion of Ukraine has led to a series of restrictive measures against Russian and Belarusian individuals and companies, as well as sectoral measures some of which date back to 2014. The...more
The Week in Review delivers the impact and analysis for the public, private, and non-profit sectors from our regular reporting of the evolving global sanctions campaign against Russia. We have reviewed the recent...more
On 3 June 2022, the European Council finally adopted the sixth set of economic and individual sanctions targeting Russia and Belarus. The new measures, which came after weeks of member state negotiations, focus on oil imports...more
BIS Imposes New Export Controls on Certain Industrial EAR99 Items - Currently, all items on the Export Administration Regulations’ (“EAR“) Commerce Control List (“CCL”) require a license for export, re-export or transfer...more
New announcements and rules expand the scope of existing sanctions and export controls on Russia and Belarus. This Client Alert summarises the latest sanctions and trade restrictions that have been imposed, or are under...more
...Since the start of the invasion of Ukraine by Russian forces on February 24, the United States (U.S.), United Kingdom (UK), and the European Union (EU) have led a global sanctions campaign against Russia that has been...more