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Economic Sanctions

Skadden, Arps, Slate, Meagher & Flom LLP

A New Day for Syria: Trump Administration Relaxes Sanctions

On May 23, 2025, the Trump administration issued a general license (GL) significantly relaxing the patchwork of restrictions on Syria, long a jurisdiction subject to comprehensive sanctions. This regulatory action followed a...more

Baker Botts L.L.P.

Congress Readies Sweeping Bipartisan Sanctions Bill Targeting Russia and Its Trading Partners

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In response to Russia’s ongoing invasion of Ukraine, lawmakers in both chambers of Congress have introduced legislation aimed at penalizing Russia through the imposition of sanctions and other economic measures. The...more

McDermott Will & Emery

Credit Conditions - Q2 2025

So-called “Liberation Day” tariffs shook markets and sparked recession fears on April 2, with rates ranging from a universal 10% to a country-specific reciprocal tariff as high as 49% for Cambodia. While the 10% universal...more

White & Case LLP

EU adopts 17th sanctions package against Russia; makes new designations relating to other regimes

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On 20 May 2025, the EU adopted its 17th package of sanctions against Russia since its invasion of Ukraine in 2022. The package expands the products included in the export ban on advanced technology items, subjects more...more

Morrison & Foerster LLP

Enforcement of China’s Anti-Foreign Sanctions Law Strengthens Through Private Cause of Action and New Implementing Rules

In November 2024, in the first successful private cause of action under the Anti-Foreign Sanctions Law (AFSL), a Chinese court adjudicated a civil claim by a Chinese company against its overseas customer for failure to pay...more

Kelley Drye & Warren LLP

President Trump Hikes Section 232 Steel and Aluminum Tariffs to 50 Percent

Late this afternoon, President Trump signed a proclamation increasing the Section 232 tariff rate on steel and aluminum articles and their respective derivative products from 25% to 50%. The text of today’s proclamation can...more

Barnea Jaffa Lande & Co.

EU reconsiders its free trade agreement with Israel due to the war in Gaza

EU foreign ministers have decided to explore the possibility of cancelling the EU-Israel Association Agreement due to allegations that the war in Gaza is raising doubts concerning Israel’s commitment to the safeguarding of...more

White & Case LLP

Economic volatility tempers high yield issuance

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Against a remarkably volatile macroeconomic backdrop, US and European high yield bond markets recorded conspicuous year-on-year declines in issuance during the first quarter of 2025....more

Brownstein Hyatt Farber Schreck

Congress Threatens Putin with Sanctions Bill

The Sanctioning Russia Act of 2025 (S.1241/H.R.2548) is currently under consideration in both the Senate and the House in response to Russia’s ongoing invasion of Ukraine. The Senate version, introduced on April 1, 2025, by...more

Skadden, Arps, Slate, Meagher & Flom LLP

EU and UK Sanctions: New Sanctions Packages and Other Key Developments June 2, 2025

The EU and UK sanctions regimes on Russia continue to expand as both jurisdictions seek to increase pressure on President Putin. As with previous recent packages, Russia’s military, energy and financial sectors have again...more

The Volkov Law Group

OFAC Recalibrates Syria Sanctions in Response to Regime Change

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On May 23, 2025, the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) issued General License No. 25 under the Syrian Sanctions Regulations, marking a measured but far-reaching reconfiguration of...more

K&L Gates LLP

UK Cross-Government Review of Sanctions Implementation and Enforcement

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On 15 May 2025, the UK government published a policy paper summarising findings from a cross-government review of sanctions implementation and enforcement. The Foreign, Commonwealth and Development Office led the review in...more

White & Case LLP

Experiences, Preferences And Enforcement

White & Case LLP on

An overwhelming majority (87%) of respondents continue to choose international arbitration to resolve cross-border disputes, either as a standalone mechanism (39%) or with Alternative Dispute Resolution (ADR) (48%). There has...more

Cooley LLP

US, UK and EU Begin Easing Sanctions on Syria Amid Political Transition

Cooley LLP on

Following an announcement by President Donald Trump on May 13, 2025, that he would order the cessation of US sanctions against Syria, the US Department of the Treasury’s Office of Foreign Assets Control (OFAC) issued General...more

Orrick, Herrington & Sutcliffe LLP

Part I: #DefenseTech - Navigating Investment Control Regulations for Defense Start-ups in Germany

Defense technology companies in Germany operate in a highly regulated environment that requires careful navigation of various legal requirements. Key regulations include national or EU legislation on handling of...more

Jones Day

EU Geopolitical Risk Update - Key Policy & Regulatory Developments No. 121

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This regular alert covers key policy and regulatory developments related to EU geopolitical risks, including in particular, economic security, Russia’s war against Ukraine, health threats, and cyber threats. It does not...more

ArentFox Schiff

So Long Syria Sanctions? Not So Fast!

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On May 23, the US Department of the Treasury’s Office of Foreign Assets Control (OFAC) issued Syria General License (GL) 25, “Authorizing Transactions Prohibited by the Syrian Sanctions Regulations or Involving Certain...more

Foley Hoag LLP

U.S. and EU Take Steps Towards Easing Sanctions on Syria

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On May 23, 2025, the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) issued General License No. 25 (“GL 25”) authorizing certain transactions involving Syria and a specified list of blocked...more

Bass, Berry & Sims PLC

U.S. Government Eases Some Restrictions on Syria

On May 23, 2025, the U.S. Treasury Department, Office of Foreign Assets Control (OFAC) announced several actions to provide sanctions relief to Syria. OFAC is the primary government agency responsible for administering U.S....more

Mayer Brown

UK Weekly Sanctions Update - Week of May 26, 2025

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In this weekly update, we summarise the most notable updates in the UK sanctions world. ...more

Mayer Brown

Russia/Ukraine Sanctions Update - Month of May 2025

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I. U.S. Sanctions - President Trump Threatens Sanctions on Russia Following Drone Attack on Ukraine: On May 28, Bloomberg reported that President Trump said he was “‘absolutely’ considering new sanctions against Russia as...more

WilmerHale

The United States and European Union Offer Sanctions Relief to Post-Assad Syria

WilmerHale on

Following the fall of Syria’s Assad regime, the United States and key allies have recently announced sanctions relief with the stated goal of stabilizing Syria under its newly installed leaders. ...more

Baker Botts L.L.P.

U.S. Government Issues Broad Sanctions Relief for Syria

Baker Botts L.L.P. on

On May 23, 2025, the Treasury Department’s Office of Foreign Assets Control (“OFAC”) issued Syria General License 25 (“GL 25”), effectively lifting U.S. sanctions on Syria. This move follows President Trump’s announcement on...more

Miles & Stockbridge P.C.

U.S. Provides Significant Sanctions Relief for Syria

Less than two weeks after President Donald Trump announced that his administration would lift U.S. sanctions on Syria, the U.S. Departments of the Treasury and State took significant first steps to provide the anticipated...more

BakerHostetler

Syria Sanctions Eased: What is the Impact on Your Business?

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On May 23, 2025, the United States formally eased its economic sanctions on Syria. This action authorizes a significant number of transactions that previously would have violated U.S. sanctions. ...more

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