News & Analysis as of September 18, 2024

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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 Introduces “Best Efforts” Requirement for Non-EU Subsidiaries Not to Undermine EU Sanctions Against Russia

Latham & Watkins LLP on 8/12/2024

The EU’s 14th “package” of sanctions against Russia introduces anti-circumvention measures targeting the non-EU subsidiaries of EU entities and creates new restrictions, including on LNG. This Client Alert is published in...more

Spotlight on the “Partner Countries” Exemption from Sanctions against Russia

McDermott Will & Emery on 6/7/2024

From June 20, 2024, EU companies with a presence in Russia will no longer be able to rely on the “partner countries” exemption and will be required to obtain, or rely on, a licence to provide business services and/or software...more

E(U)xterritoriality of EU Sanctions: The No Russia Clause

Sheppard Mullin Richter & Hampton LLP on 3/28/2024

The EU is going extraterritorial, and it is doing so through private contract. It is a pretty neat trick. As a general rule, EU regulations do not apply extraterritorially. This policy is a bit pointed, intended to stand...more

Sanctions Update: EU and UK Impose Sweeping Import Restrictions on Russian-Origin Iron and Steel

Latham & Watkins LLP on 11/8/2023

The new measures bar the import of iron or steel products processed in countries other than Russia but incorporating Russian-origin iron or steel components. The measures form part of a series of significant sanctions updates...more

EU’s 11th package of sanctions on Russia targets third-country evasion, expands existing restrictions and extends derogations

White & Case LLP on 7/12/2023

The EU adopted its eleventh sanctions package against Russia on 23 June, 2023. A new anti-circumvention framework enables the EU to tackle sanctions evasion through third countries. The EU extends the scope of existing...more

[Event] European Forum on Global Economic Sanctions - June 1st - 2nd, Berlin, Germany

American Conference Institute (ACI) on 5/1/2023

Hosted by C5 Group, the European Forum on Global Economic Sanctions is recognized as Europe's Premier, longstanding gathering for financial institutions and global exporters. The industry across Europe is confronting an...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

Banking Bites - June 2022

BCLP on 6/21/2022

New High Court case considers nature and scope of the Quincecare duty - In June, the Court of Appeal expanded the scope of a bank’s duty of care to protect its customers from fraud to encompass instructions by those other...more

U.S. Government Authorizes Transactions Related to Patent Protection in Russia

Goodwin on 5/9/2022

On May 5, 2022, the Office of Foreign Assets Control of the U.S. Department of the Treasury issued General License No. 31 (“GL31”), which authorizes transactions in connection with the filing and prosecution of patent...more

La Commission européenne facilite l’accès des entreprises frappées de plein fouet par la guerre en Ukraine au soutien financier...

Orrick, Herrington & Sutcliffe LLP on 4/5/2022

En réaction à l’invasion de l’Ukraine par la Russie, la Commission européenne a publié le 23 mars 2022, à l’intention des Etats membres de l’UE, un encadrement temporaire de crise pour leur donner de la souplesse pour...more

The European Commission Facilitates Access to Financial Support From EU Member States For Companies Hit Hard by the War in Ukraine

Orrick, Herrington & Sutcliffe LLP on 4/5/2022

In response to Russia's invasion of Ukraine, the European Commission has issued, on March 23, 2022 a temporary crisis framework to EU Member States to give them flexibility to intervene in support of companies in compliance...more

New State Aid Temporary Framework In The Wake Of The Aggression Against Ukraine By Russia

McDermott Will & Emery on 3/24/2022

To mitigate the negative economic and social consequences of Russian military aggression against Ukraine and to lessen the effect of the restrictive economic measures taken in response to the crisis, as well as retaliatory...more

In the Making: New State Aid Temporary Framework to Support the EU Economy in the Wake of Russia’s Invasion of Ukraine

McDermott Will & Emery on 3/14/2022

The European Commission consults Member States on its draft proposal - On March 10, 2022 the European Commission (Commission) sent a draft proposal to EU Member States with the aim of establishing a State aid Temporary...more

Arming for a Trade War: The EU Proposes an Unprecedented Anti-Coercion Regulation

Sheppard Mullin Richter & Hampton LLP on 2/15/2022

Scope of the Proposed Regulation - The Regulation would apply where a third country interferes in the legitimate sovereign choices of the Union or a Member State, by applying or threatening to apply measures affecting...more

Tread carefully: Global pay and employee benefits traps for the unwary

Eversheds Sutherland (US) LLP on 7/13/2021

This briefing highlights a number of international pay and employee benefits legal issues that carry potentially severe penalties. Each of these issues is well worth a review now to avoid future consequences. International...more

EU designates nine persons for malicious cyber-attacks threatening the EU or its Member States

White & Case LLP on 8/10/2020

On 30 July 2020, the EU designated the first individuals and entities under its 2019 sanctions framework targeting parties involved in cyber-attacks that undermine the EU’s integrity, security and economic competitiveness....more

[Webinar] Prepare for Global Data Class Actions - April 28th, 3:00 pm - 3:45 pm GMT

Hogan Lovells on 4/8/2020

Prepare for global data class actions has been moved. In the wake of the COVID-19 epidemic, there is an unfortunate increase in the cyber-security risks businesses may face. Our global team will help you best prepare for the...more

New EU sanctions to target malicious external cyber-attacks

White & Case LLP on 5/22/2019

On 17 May 2019, the EU put in place a new legal framework for sanctions targeting malicious cyber activities from outside the EU that threaten the Union or its Member States. The aim is to enhance the EU's cyber resilience...more

EU sanctions Syrian and Russian parties involved in the use and proliferation of chemical weapons

White & Case LLP on 1/26/2019

On 21 January 2019, the EU adopted the first sanctions measures under its new sanctions framework targeting parties involved in the use and proliferation of chemical weapons introduced in October 2018...more

Skadden's 2019 Insights: Foreign Investment Control Reforms in Europe

Skadden, Arps, Slate, Meagher & Flom LLP on 1/18/2019

The geopolitical environment continues to drive reform of foreign investment rules in Europe, with government proposals clarifying and tightening such rules in the interest of national security. Recent foreign state-backed...more

EU Seeks to Contain the Impacts of U.S. Reimposition of Extra-Territorial Sanctions on Iran

Dechert LLP on 8/9/2018

The U.S. yesterday commenced the phased re-introduction of its pre-JCPOA extra-territorial sanctions in relation to Iran – with some measures applying immediately, and others from 5 November. The EU has condemned U.S....more

EU and UK Sanctions Update: April 2017

K&L Gates LLP on 4/21/2017

There have been a number of key developments in the European Union (“EU”) and United Kingdom (“UK”) sanctions regimes in relation to North Korea, Russia, Syria and other jurisdictions since our last update. North Korea -...more

EU and UK Sanctions Update: November 2016

K&L Gates LLP on 11/22/2016

There have been a number of key developments in the European Union (“EU”) and United Kingdom (“UK”) sanctions regimes in relation to Russia, Syria, Iraq and numerous other jurisdictions, since our last update in July 2016. ...more

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