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Commodities contracts and the impact of the OW Bunkers case

As we reported in an earlier Client Alert, the UK Supreme Court recently handed down its highly anticipated judgment in the Res Cogitans case. The Supreme Court was unanimous in finding that a contract to supply bunkers to...more

Recent Amendments to the Cuba Sanctions Ease Restrictions for Travel and Shipping Sectors

This client alert addresses the recent amendments to the Cuba sanctions regime in the wake of President Obama’s historic visit to Cuba. The recent changes represent the increasing efforts of the U.S. government to restore...more

Iran: Adoption Day of the Joint Comprehensive Plan of Action

On 14 July 2015, the Joint Comprehensive Plan of Action (JCPOA) was agreed between the E3/EU+3 (or the P5+1, comprising the United States, Russia, China, the United Kingdom, France and Germany), together with Iran. This was...more

White House Announces Next Steps in Easing of Cuban Embargo But Broad Restrictions Remain in Place

On September 21, 2015, new amendments that further relax restrictions in the Cuban Assets Control Regulations (CACR) and the Export Administration Regulations (EAR) will take effect. In anticipation of the amendments’...more

When is a "contract for the sale of goods" not a contract of sale of goods?

A recent decision in the English Commercial Court has potentially significant ramifications for the shipping and trading industry. This decision will be of interest to...more

Iran: Joint Comprehensive Plan of Action agreed on 14 July 2015, but no immediate sanctions relief

On 24 November 2013, the E3/EU+3 (or the P5+1, comprising the United States, Russia, China, the United Kingdom, France and Germany), together with Iran, agreed the Joint Plan of Action (“JPOA”), which relaxed some of the...more

Iran: Further extension of limited sanctions relief to 13 July 2015

In our alert of 8 July, we reported that the P5+1 and Iran had announced the extension of the Joint Plan of Action Relief Period (the JPOA Relief Period) to 10 July 2015. Negotiations with Iran continue. To allow more...more

Courts in New York and Singapore Reach Opposite Conclusions on the Validity of Interpleader Applications Arising out of the OW...

On 7 November 2014, OW Bunker A/S (“OW”), a global supplier and trader of marine fuel, filed for bankruptcy in Denmark. Further bankruptcies of OW subsidiaries and affiliates swiftly followed, including the bankruptcy of...more

Iran: Further extension of limited sanctions relief to 10 July 2015

In our alert of 1 July we reported that the P5+1 and Iran had announced the extension of the Joint Plan of Action Relief Period (the JPOA Relief Period) to yesterday, 7 July 2015. Negotiations with Iran continue. To...more

Iran: No decision reached; further extension of limited sanctions relief until 7 July 2015

Yesterday, the P5+1 (made up of the United States, Russia, China, the United Kingdom, France and Germany) together with Iran, announced the extension of the Joint Plan of Action (JPOA) Relief Period (JPOA Relief Period) for...more

7/3/2015  /  Iran , Iran Sanctions , JPOA , P5+1 Nations

Continuation of Russian Sanctions

Since March 2014, Reed Smith has been closely monitoring developments relating to the situation in the Ukraine and reporting them as Client Alerts and blog updates. We have set out below a brief summary of the EU’s...more

3/27/2015  /  EU , Russia , Sanctions , Ukraine

Sanctions Update: the U.S. and the EU impose further measures against Russia

This alert follows our previous alerts on the Russia/Ukraine sanctions. U.S. Passes New Sanctions Authorizing Statute - Sends Russia Frigid End of Year Message. President Obama: U.S. will “review and calibrate”...more

EU clarifies Russian sanctions

This alert follows our previous alerts on the Russia/Ukraine sanctions. On 5 December 2014, the European Commission published Regulation 1290/2014 (the Amending Regulation) with effect from 6 December 2014. This...more

12/15/2014  /  EU , Russia , Sanctions , Ukraine

The Joint Plan of Action: A Recap of the Easing Of Sanctions Against Iran By The United States And European Union

On 24 November 2013, an agreement was reached between the E3+3 (also known as the P5+1, and which includes the United States, United Kingdom, Russia, China, France and Germany) and Iran....more

Iran: limited sanctions relief extended to 30 June 2015

In January 2014, both the EU and U.S. brought into force measures which temporarily suspended and relaxed (for an initial period of six months) some of the sanctions in place against Iran. This reflected the Joint Plan of...more

12/1/2014  /  EU , Iran , Iran Sanctions , JPOA , P5+1 Nations

Overview of the U.S. and EU Sanctions on Russia

Over the past six months, the United States and the European Union have coordinated efforts through sanctions and trade controls to respond to Russian activity in Crimea and Ukraine. Following a long series of incremental...more

Sanctions Update: European Union imposes further measures in respect of Russia/Ukraine

This morning, the EU published further sanctions to increase the pressure on Russia for its involvement in the Ukraine. The new measures add to the already complex restrictions in place and should be carefully considered....more

9/15/2014  /  EU , Russia , Sanctions , Ukraine

Sanctions Update: Ukraine, Crimea and Sevastopol—the Ukrainian Parliament, the EU and the U.S. impose further measures

This Alert follows our previous alerts on the Russia/Ukraine sanctions available on our website. July continued to be a busy time as the Verkhovna Rada (the Ukrainian Parliament), the EU and the United States intensified...more

Iran: limited sanctions relief extended to 24 November 2014

January 2014, both the EU and U.S. brought into force measures which temporarily suspended and relaxed (for a period of six months, to end on 20 July 2014) some of the sanctions in place against Iran. This reflected the Joint...more

July Sanctions Update: Ukraine and Iran

We have set out below a summary of the recent changes in respect of the Ukraine as well as an update on the position regarding the “Joint Plan of Action” in respect of Iran....more

7/18/2014  /  Foreign Policy , Iran , Sanctions , Ukraine

Crisis in the Crimea: Sanctions Update

United States further measures - In response to the Russian Federation’s continued actions in southern and eastern Ukraine, the United States added seventeen entities and seven Russian officials and related persons to...more

4/30/2014  /  Foreign Policy , Russia , Sanctions , Ukraine

Sanctions Update - Iran: Easing of sanctions by the United States and European Union

The "Joint Plan of Action" reached between the United Kingdom ("UK"), the United States ("U.S."), Germany, France, Russia and China (collectively known as the "E3+3") and Iran in November 2013 envisaged a two-step process in...more

1/23/2014  /  EU , Foreign Policy , Iran , Iran Sanctions , UK

Indonesian export ban and language law – are you prepared?

In 2010 we reported on legal developments affecting Indonesia’s coal mining industry. Since then, Indonesia – the fourth most populous country in the world with a US-dollar economy in excess of one trillion – has continued to...more

Sanctions Update -- December 2013

Iran: Easing of sanctions by the United States (“US”) and European Union (“EU”) - On 24 November 2013, a joint commission of the United Kingdom ("UK"), the United States, Germany, France, Russia and China (collectively...more

Sanctions Update

This alert follows on from our client alert of 7 January 2013, relating to the implementation of Council Regulation (EU) No. 1263/2012 against Iran, which can be found here. The year 2013 will inevitably bring further...more

1/29/2013  /  Iran Sanctions , Sanctions
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