On September 12, 2014, the United States issued another round of targeted sanctions against the Russian financial, defense, and energy sectors. Today’s measures were a combination of new measures and modifications of prior...more
Today, the EU published a second round of targeted sanctions against Russia. These new measures expand the EU’s existing Russia sanctions and restrict access to capital markets covering certain loans and credit, trade in...more
Against the background of recent European Union (EU) sanctions targeting Russian airline Dobrolet, this note provides a general overview of relevant issues – especially in the context of the aircraft sector.
On August 13, 2014, the US Treasury Department’s Office of Foreign Assets Control (OFAC) issued revised guidance with respect to the “50% Rule,” which established that an entity owned 50% or more, directly or indirectly, by a...more
On August 1, 2014, the Bureau of Industry and Security (BIS) announced further export restrictions targeting Russia generally and the Russian oil and gas sector in particular, effective August 6, 2014. This action implements...more
The EU has adopted and published targeted sanctions against Russia covering banks, the oil sector and arms in response to the situation in Ukraine. The new sanctions include an EU ban on purchase or sale (and related...more
This alert resumes three changes to EU sanctions adopted over the past week. This week is likely to be equally busy as further sanctions on Ukraine and Russia are expected imminently.
First, and most important, the...more
The European Commission (“EC”) has long sought to eliminate so-called harmful tax competition, which it sees as undermining the integrity of the internal market, fair competition and the fiscal sustainability of the Member...more
On 9 April 2014, the European Commission adopted its new Energy and Environmental State Aid Guidelines (the "EEAG") which will take effect from 1 July 2014 onwards, replacing the Environmental State aid Guidelines ("EAG")...more