News & Analysis as of October 19, 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 -

New Multi-Jurisdictional Sanctions Continue to Target Broad Scope of Activities With Russia

WilmerHale on 7/1/2024

In conjunction with the Group of Seven (G7) leaders meeting in Italy earlier this month, key jurisdictions issued the latest in a series of coordinated economic restrictions on Russia in light of its invasion of Ukraine in...more

Enhanced Global Russian Sanctions and Export Controls to Counter Circumvention

WilmerHale on 6/5/2023

On May 19, in response to Russia’s ongoing invasion of Ukraine, the United States, in coordination with allies and partners, announced new sanctions restrictions and export controls targeting Russia’s evasion networks,...more

Russia and Belarus sanctions update - March 2023

Eversheds Sutherland (US) LLP on 3/6/2023

In recognition of the one-year anniversary of Russia’s invasion of Ukraine, the US Department of the Treasury’s Office of Foreign Assets Control (OFAC) and US Department of Commerce’s Bureau of Industry and Security (BIS)...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

Russia and Belarus Sanctions and Export Controls Update – June 14, 2022

Foley Hoag LLP on 6/14/2022

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

Sanctions and Export Controls Update: US, UK, and EU Developments Relating to Russia

Latham & Watkins LLP on 5/16/2022

New rules and announcements expand existing sanctions and export controls relating to Russia. This Client Alert is published in the context of ongoing developments and should be read in conjunction with the Latham &...more

U.S. and Allies Impose Additional Severe Costs on Russia for Atrocities in Ukraine (update)

Sheppard Mullin Richter & Hampton LLP on 4/13/2022

Updated as of April 12, 2022 - It has now been more than 40 days since the start of Putin’s brutal invasion of Ukraine. Today, following the recent revelations of the atrocities committed in Bucha, Ukraine by Russian armed...more

Biden Administration Increases Sanctions, Export Control Restrictions Amid Russia’s Continued Aggression in Ukraine

Wiley Rein LLP on 4/13/2022

Over the last week, the Biden Administration announced new sanctions and export controls on Russia and “the Putin regime for its atrocities in Ukraine, including in Bucha.” These actions include full blocking sanctions on two...more

Russia and Belarus sanctions update - March 2022

Eversheds Sutherland (US) LLP on 3/23/2022

Following the invasion of Ukraine by Russia, the UK, EU and US have all responded by announcing significant sanctions in respect of Russia and Belarus. The sanctions landscape has been changing at a fast pace and further...more

Russia and Belarus Targeted With Comprehensive Economic Sanctions and Export Control Restrictions: U.S., U.K., and EU Regulatory...

Womble Bond Dickinson on 3/8/2022

In response to the Russian Federation’s invasion of Ukraine in February 2022, the U.S., U.K., and EU have implemented sweeping coordinated economic sanctions and export control restrictions targeting key industries, entities,...more

The United States and Its Allies Impose Unprecedented Sweeping “Second Tranche” of Economic Sanctions and Export Controls in...

Alston & Bird on 3/1/2022

The United States and its allies respond to Russia’s invasion of Ukraine with even tougher sanctions against Russia, its leaders, and its leading businesses. Our International Trade & Regulatory Group breaks down the...more

Russia Invades and the West Reacts: A Look at Russian Sanctions So Far

Pillsbury Winthrop Shaw Pittman LLP on 2/28/2022

Despite months of posturing and growing geopolitical tensions, Russia’s full-scale invasion of Ukraine this week was a shock to the global community. Western leaders have been swift and unanimous in their response, condemning...more

Russian Invasion of Ukraine Triggers Global Sanctions: What Businesses Need to Know

McDermott Will & Emery on 2/25/2022

The Russian invasion of Ukraine has triggered swift international retribution. Global powers—including the European Union (EU), the United Kingdom (UK) and the United States (US)—have announced sanctions as the crisis in...more

U.S. Announces Next Round of Tougher Sanctions and Export Controls in Response to Russian Invasion of Ukraine

Venable LLP on 2/25/2022

The United States, along with the European Union, the United Kingdom, and other allies, has announced a new round of significantly tougher sanctions and export controls in response to the expanding Russian military invasion...more

Sanctions Update: US, UK, and EU Impose Sweeping New Sanctions Relating to Russia, Ukraine, and Belarus

Latham & Watkins LLP on 2/25/2022

New rules significantly expand the scope of existing Ukraine- and Russia-related sanctions and impose stringent export controls on Russia. This Client Alert is published in the context of fast-moving developments....more

US and UK impose first wave of sanctions in response to Russian actions in Ukraine (and EU Sanctions to Follow)

White & Case LLP on 2/23/2022

Following Russia's recognition of the Donetsk and Luhansk Regions as independent, the US and UK moved swiftly to impose new sanctions against Russia in response to its deemed escalation of the ongoing crisis along the...more

US Government Issues New Targeted Sanctions in Response to Russian Actions on the Ukraine Border

Fenwick & West LLP on 2/23/2022

The United States government, in coordination with the UK and EU, has imposed a round of targeted measures in what could be the first of a series of escalations in response to Russia’s recent actions along the Ukraine...more

Iran Sanctions Are Here—Breaking Down What This Means For Business

Akin Gump Strauss Hauer & Feld LLP on 11/27/2018

• As of November 5, 2018, the United States concluded the second of two wind-down periods for re-imposition of U.S. sanctions on Iran following the May 8, 2018, announcement that the United States would cease participation in...more

U.S. Reimposes Final Tranche of Iran-Related Sanctions

WilmerHale on 11/9/2018

On November 5, 2018, the United States took steps to complete the U.S. withdrawal from the Joint Comprehensive Plan of Action (“JCPOA”), under which the United States – along with its partners in the P5+1 – had previously...more

Top 10 Things to Know About Expanded US Sanctions on Iran

Latham & Watkins LLP on 11/6/2018

Withdrawal from the Iran nuclear agreement triggers full implementation of US sanctions, including threat of “secondary” sanctions on non-US persons dealing with Iran. As reported in the Latham Client Alert dated May 10,...more

Financial Services Quarterly Report - Second Quarter 2018: Current U.S. Sanctions Against Russia, Venezuela and Iran

Dechert LLP on 7/19/2018

International sanctions are a major compliance challenge for companies worldwide. The regulatory risks associated with economic sanctions, asset-freezing measures and trade embargoes are not new, but they continue to grow in...more

US Withdrawal From Iran Nuclear Deal Poses Challenges for Companies

Skadden, Arps, Slate, Meagher & Flom LLP on 5/15/2018

On May 8, 2018, President Donald Trump announced that the United States was withdrawing from its participation in the Joint Comprehensive Plan of Action (JCPOA), the agreement the P5+1 (the United States, China, France,...more

Iran Sanctions After the Trump Administration's JCPOA Withdrawal

WilmerHale on 5/11/2018

On Tuesday, May 8, President Trump announced that the United States would end its participation in the Joint Comprehensive Plan of Action (JCPOA), signed by the Permanent Five Members of the Security Council plus Germany...more

United States' Withdrawal From "Iran Deal" Will Reimpose Sanctions

Jones Day on 5/10/2018

On May 8, 2018, President Trump announced that the United States would cease participating in the Joint Comprehensive Plan of Action ("JCPOA"), commonly known as the Iran Deal. This will reimpose, by no later than November 5,...more

Venezuela Debt Restructuring – Sanctions Compliance

Orrick, Herrington & Sutcliffe LLP on 12/19/2017

As parties pursue restructuring of Venezuelan sovereign debt, they should be sensitive to U.S. economic sanctions prohibitions. The sanctions prohibitions broadly apply to "U.S. persons" – U.S. citizens and permanent...more

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