News & Analysis as of September 18, 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 -

This Week’s Climate Policy Update - 2024 #3

Akin Gump Strauss Hauer & Feld LLP on 6/24/2024

Good morning! This is Akin’s newsletter on climate change policy and regulatory developments, providing information on major climate policy headlines from the past week and forthcoming climate-related events and hearings...more

UK and EU Sanctions Update–April 2024

K&L Gates LLP on 4/12/2024

The following alert provides an update on recent sanctions developments, including: The publication of the UK government’s first sanctions strategy. The announcement of over 50 new sanctions. Measures to strengthen the Oil...more

UK Announces Creation of New Trade Sanctions Enforcement Agency and Introduces Further Sanctions Against Russia

Skadden, Arps, Slate, Meagher & Flom LLP on 1/22/2024

With Russia’s invasion of Ukraine nearing the end of its second year, the United Kingdom has continued to introduce sanctions measures against Russia, with the latest round announced on 14 December 2023....more

Expert Determination in the Energy Sector – When Will the Courts Intervene?

Bracewell LLP on 1/12/2024

It is not uncommon for parties to agree that certain disputes should be referred to an expert for determination. However, when those disputes arise, the parties may disagree about the scope of the exercise to be carried out...more

EU Further Strengthens Restrictive Measures Against Russia in 12th Package of Sanctions

Skadden, Arps, Slate, Meagher & Flom LLP on 1/9/2024

On 18 December 2023, the European Union adopted a 12th package of sanctions against Russia. The sanctions impose an asset freeze on more than 140 individuals and entities pursuant to Council Regulation (EU) 269/2014...more

European Union Adopts 12th Sanctions Package Against Russia

Mayer Brown on 12/20/2023

On December 18, 2023, the European Union ("EU") adopted its 12th sanctions package against Russia. The new package introduces additional asset freeze measures, together with amendments to the EU asset freeze framework...more

Department of State, OFAC, and BIS Issue Sweeping Additional Sanctions on Russia, While EU Proposes Tightening Russian Oil Price...

Foley Hoag LLP on 12/1/2023

U.S. authorities have been active in November 2023, reinforcing and expanding sanctions targeting Russia's war effort in Ukraine. Multiple agencies added sanctions targeting entities involved in Russia's military supply...more

The EU’s 11th Sanctions Package: The Long(er) Arm of the Law

Sheppard Mullin Richter & Hampton LLP on 6/26/2023

On June 23, 2023, the EU released its 11th package of sanctions on Russia. This package is designed to improve enforcement with new anti-circumvention rules, new trade restrictions, and new designations. The...more

Overview of the EU’s 10th sanctions package in relation to Russia

White & Case LLP on 3/17/2023

On 25 February 2023, the EU adopted its tenth sanctions package against Russia. More industrial, high-tech and aviation goods are now banned for export to Russia, while Russian bitumen and related materials, synthetic rubber...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

The 2023 AIEN Model International Joint Operating Agreement

Vinson & Elkins LLP on 2/15/2023

In February 2023, the Association of International Energy Negotiators (“AIEN”) published the latest version of its Model International Joint Operating Agreement (the “2023 JOA”) and related guidance notes (the “Guidance...more

Global Jurisdictions Adopt New Price Cap on Russian Petroleum Products - New Guidance Creates Additional Compliance Expectations

WilmerHale on 2/10/2023

Effective February 5, 2023, the Price Cap Coalition (the Coalition), consisting of the G7 nations, the European Union (EU) and Australia, set a price cap of $45 per barrel for “Discount to Crude” petroleum products of Russian...more

Sanctions Update—January 2023

K&L Gates LLP on 2/9/2023

The following alert provides an update on recent sanctions developments including: 1. A £30,000 fine imposed for breaches of UK sanctions; 2. The expansion of the prohibition on providing professional services to persons...more

OFAC Updates U.S. Oil Price Cap Policy Against Russia

Holland & Knight LLP on 2/8/2023

As an update to an earlier Holland & Knight alert on the same topic, the U.S. Department of the Treasury Office of Foreign Asset Control (OFAC) has published another determination pursuant to Executive Order 14071 expanding...more

Overview of the EU’s Ninth Sanctions Package and the UK’s Latest Restrictive Measures Against Russia

Pillsbury - Global Trade & Sanctions Law on 12/27/2022

U’s Ninth Package - On Friday 16 December 2022 the EU issued its ninth package of sanctions against Russia. Under the new package: Asset freezes have been imposed against 174 new individuals and entities including National...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

Russia and Belarus sanctions update - December 2022

Eversheds Sutherland (US) LLP on 12/12/2022

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

Sanctions Update: US, EU, and UK Set $60-per-Barrel Price Cap on Russian Crude Oil

Latham & Watkins LLP on 12/12/2022

The price cap operates as an exemption to the ban on transportation of Russian seaborne crude oil to other countries. This Client Alert is published in the context of ongoing developments and should be read in conjunction...more

Price Cap on Russian Crude Oil Becomes Effective

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

On December 5, 2022, the price cap on Russian crude oil that was announced by the G-7 finance ministers in September 2022 went into effect at a level of $60 per barrel. The price cap is implemented by prohibiting the...more

The U.S., EU, and UK Implement New $60 Price Cap Related to Russian Oil

Foley Hoag LLP on 12/12/2022

Following the initial announcement in September 2022 by the Group of Seven Nations (“G7”) that they would set a price cap on Russian-origin oil and petroleum products, the U.S., the EU, and the UK have moved to implement the...more

Global Jurisdictions Implement Russian Oil Ban and Price Cap Policy

WilmerHale on 12/7/2022

A ban on services related to the maritime transport of Russian-origin crude oil sold above a pre-determined price cap of $60 per barrel began on December 5, 2022, with a similar price cap ban related to other Russian-origin...more

Coalition Powers Impose Russian Oil Price Cap and Outline Implementation

Morrison & Foerster LLP on 12/7/2022

As Russia’s war in Ukraine stretches into its tenth month, governments around the world continue to coordinate and respond with increasingly severe sanctions and export controls....more

U.S., EU, and UK Price Cap Sanctions Prohibiting Services for Maritime Transport of Russian Oil

Orrick, Herrington & Sutcliffe LLP on 12/6/2022

Effective December 5, 2022, a coalition of G7 countries, Australia, and the European Union have generally forbidden service providers to provide certain services relating to the maritime transport of Russia-origin crude oil...more

Sanctions Update: EU and US Impose New Sanctions and Export Controls Relating to Russia

Latham & Watkins LLP on 10/12/2022

The EU has issued its eighth “package” of sanctions measures on Russia. Meanwhile, US agencies have issued guidance on “secondary” sanctions enforcement, designated additional SDNs, and restricted further exports to Russia —...more

Sanctions Against Russia: Recent Developments

K2 Integrity on 9/16/2022

K2 Integrity 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 Union...more

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