News & Analysis as of October 19, 2024

Economic Sanctions

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The European Union is an economic and political partnership comprised of 27 nations within the Eurozone. The EU was established in 1948 to promote stability and cooperation among member states in the aftermath of WWII. The EU maintains a common currency as well as several intranational institutions, including the European Parliament and the European Commission. less -

EU’s 14th Sanctions Package: Compliance Obligations Expand and Exits Are Facilitated

Skadden, Arps, Slate, Meagher & Flom LLP on 7/26/2024

On 24 June 2024, the European Union (EU) adopted its 14th sanctions package directed against Russia, imposing an asset freeze against an additional 116 individuals and entities and expanding sectoral sanctions targeting key...more

Statute of Limitations for IEEPA and TWEA Violations Extended to 10 Years, and Additional Sanctions Developments

Paul Hastings LLP on 7/25/2024

Recent legislation, H.R. 815, the National Security Supplemental (“the Act”) – further explained by guidance issued by the U.S. Department of the Treasury Office of Foreign Assets Control (“OFAC”) on July 22, 2024 – has...more

The UK Election and Its Implications for Compliance Professionals

Thomas Fox - Compliance Evangelist on 7/11/2024

Last week saw the greatest wipeout in the recorded history of UK governments, which saw the Tories being swept from power and losing over 400 seats in Parliament. Labor took over with a commanding presence, securing around...more

[Event] European Forum on Global Economic Sanctions - June 5th - 6th, Berlin, Germany

American Conference Institute (ACI) on 4/1/2024

Hosted by the C5 Group Inc., the 2024 European Forum on Global Economic Sanctions will explore the evolution of the global economic sanctions landscape, analyzing everything from the shifting geopolitics around the globe, to...more

EU Sanctions Year in Review 2023

Morrison & Foerster LLP on 3/7/2024

In 2023, the European Union continued to use economic sanctions as one of its foreign policy tools, and not only in response to Russia’s war in Ukraine. New sanctions and adjustments to existing regimes reflect the EU’s...more

The BCA takes action: first investigation under the abuse of economic dependence rules

A&O Shearman on 12/6/2023

The Belgian Competition Authority (the BCA) announced last week that it has initiated an ex officio investigation into a possible abuse of economic dependence in the agricultural sector, making this the BCA’s first formal...more

The Emergence of a Global Russia Sanctions Enforcement Regime

WilmerHale on 4/28/2023

The year since Russia’s invasion of Ukraine has been marked by the development of a multi-jurisdictional, multi-agency sanctions regime in the United States, the United Kingdom and the European Union. Although coordination...more

One Year Later Implementing Sanctions Against Russia

K2 Integrity on 3/3/2023

Approximately one year ago, in the immediate wake of Russia’s full-scale invasion of Ukraine, the United States (U.S.), United Kingdom (UK), and European Union (EU) launched a global sanctions campaign against Russia that...more

Sanctions Enforcement: Lessons Learned from 2022 and How to Prepare Going Forward

Dechert LLP on 2/17/2023

In 2022, the US, UK and EU all escalated their sanctions enforcement rhetoric. For example, senior US enforcement officials went so far as to describe sanctions as “the new FCPA” (referring to the US. Foreign Corrupt...more

Implementation of the Russian Oil Price Cap and Key Compliance Considerations

K2 Integrity on 1/27/2023

As the Russian invasion of Ukraine continues, so too does Russia’s isolation from the West. Member nations of the Group of Seven (G7)—the United States (U.S.), Canada, France, Germany, Italy, Japan, and the United Kingdom...more

UK Expands Prohibitions on Providing Services to Russian Entities and Adds Investment Restrictions

Skadden, Arps, Slate, Meagher & Flom LLP on 12/23/2022

On 15 December 2022 the United Kingdom announced its latest expansion of sanctions against Russia. New prohibitions were added relating to trust services, and professional and business services, and existing restrictions...more

Russia Sanctions: Where Are We Now and What Could Be Next?

Dechert LLP on 12/19/2022

Since February 2022, the United States, United Kingdom, and European Union have imposed unprecedented economic sanctions on Russia and various Russian entities and individuals in response to the war in Ukraine. Actions have...more

Skadden’s 2023 Insights – Five Critical Areas for the Year Ahead

Skadden, Arps, Slate, Meagher & Flom LLP on 12/14/2022

The pandemic’s impact may be subsiding, but businesses are encountering new challenges across the globe, including the potential for an economic retrenchment, rising interest rates, shifting regulatory and litigation...more

"Taking the Keys": Six things to consider for credit investors contemplating share pledge enforcement

White & Case LLP on 11/14/2022

Rises in energy costs, disruption to global supply chains, the situation in Ukraine, soaring inflation and higher interest rates are pushing several major European economies towards recession. Borrowers and issuers in the...more

OFAC Issues Preliminary Guidance on Implementation of Maritime Services Policy and Related Price Exception for Seaborne Russian...

Seward & Kissel LLP on 9/13/2022

On September 9, 2022 OFAC issued a preliminary guidance on the Implementation of a Maritime Services Policy and Related Price Exception for Seaborne Russian Oil in furtherance of a policy established by a coalition of...more

Sanctions Against Russia: The Week in Review. - April 2022

K2 Integrity on 4/14/2022

The Week in Review delivers the impact and analysis for the public, private, and non-profit sectors from our daily reporting of the evolving global sanctions campaign against Russia. This week, we reviewed the recent...more

Sanctions Against Russia: Understanding the Evolving Picture and What It Means

K2 Integrity on 3/11/2022

On 3 March 2022, K2 Integrity hosted a webinar on the developing sanctions against Russia and what it means for global markets and businesses. This article summarizes the key points and analysis from the event....more

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