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U.S. Enacts New Russia Sanctions Law; President Obama Imposes Trade/Investment Embargo on Crimea

On December 18, President Barack Obama signed the Ukraine Freedom Support Act of 2014 (UFSA) into law. Passed by the Congress in response to Russia’s support of the pro-Russian insurgency in eastern Ukraine, it authorizes...more

New Russian Sanctions Legislation

On December 18, the President signed legislation passed by Congress that authorizes further sanctions on Russia.  The Ukraine Freedom Support Act of 2014 (UFSA) is aimed to assist “in restoring Ukraine’s sovereignty and...more

New Water Reporting Requirements for Oil and Gas Operators

A new oil and gas reporting bill, Senate Bill 1281, sponsored by State Senator Fran Pavley, was signed by Governor Brown on September 25, 2014. The California Department of Conservation – Division of Oil, Gas and Geothermal...more

Canada Imposes New Trade Restrictions on Russia’s Oil Exploration and Extraction Sector

On Friday, December 19, 2014, the Government of Canada announced amendments to the Special Economic Measures (Russia) Regulations to impose product-specific restrictions on the supply of certain goods to Russia’s oil sector,...more

New Law Significantly Expands Legal Basis for US Sanctions Against Russia

On 16 December 2014, President Obama announced that he will sign the Ukraine Freedom Support Act of 2014 (hereinafter the “Act”) into law. As discussed in our update dated 12 December 2014, the Act represents a potentially...more

U.S. Congress Passes Russia Sanctions Legislation

On Saturday, the U.S. Congress passed the Ukraine Freedom Support Act of 2014 (H.R. 5859), which, once signed by the president, will impose or authorize broad sanctions on Russia’s energy and defense sectors and increase...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

US Clarifies Sanctions Provisions and US Senate Passes a Bill to Codify and Expand Sanctions

As noted in previous updates, the United States and European Union continue to impose sanctions against Ukrainian and Russian individuals and entities as a result of the turmoil in Ukraine. On 11 December 2014, the US Senate...more

Corporate Governance Update: The Corporations Amendment (Publish What You Pay) Bill 2014 (CTH)

The Corporations Amendment (Publish What You Pay) Bill 2014 (Cth) (Bill) is currently before the Senate. If passed, it will amend the Corporations Act 2001 (Cth) to require: - Australian companies involved in...more

OFAC Publishes Guidance Relating to Provision of Temporary Sanctions Relief (Iran)

On December 9, 2014, the U.S. Department of the Treasury, Office of Foreign Assets Control (OFAC), published in the Federal Register (Vol. 79, No. 236, pp. 73141–73143) previously issued guidance relating to the provision of...more

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

Focus on Pennsylvania Corporate Taxes

With the November 4th election of Democrat Tom Wolf as Pennsylvania’s next Governor, Pennsylvania corporate taxpayers face an interesting budget season in 2015. During the campaign, Wolf advocated for a severance or...more

Temporary Suspension of Certain Sanctions Against Iran Extended Until Mid-2015

On November 24, 2014, the United States, the United Kingdom, France, China, Russia and Germany (collectively, the “P5+1”) announced that they will continue current negotiations with Iran regarding its nuclear program and will...more

2014 Midterm Elections: Implications for U.S. LNG Exports

Federal elections held nationwide on November 4 ushered in Republican control of the U.S. Senate and expanded the Republican majority in the U.S. House of Representatives. The Republicans now hold majorities in both houses of...more

Navigating Russia Sanctions: US, EU, and Japan Update

US, EU and Japanese sanctions targeting Russia are becoming increasingly aligned as a result of each jurisdiction’s continued tailoring of sanctions targeting Russia. In each jurisdiction there are now laws which block funds...more

Pre-election PTC Extension Update

With the election on Tuesday, the wind industry’s attention is particularly focused on the prospects for the extension of the production tax credit (PTC). There have been four interesting developments related to the extension...more

China Update - October 2014 #2

In This Issue: - Quote of the Week - U.S.-China Relations - Energy & Environment - Trade - Excerpt from U.S.-China Relations: Center for American Progress Event on U.S.-China...more

Sanctions Round-Up: Third Quarter 2014

In this issue: - The Revised OFAC 50 Percent Rule - U.S. and E.U. Sectoral Sanctions Targeting Russia - Additional U.S. Sanctions Targeting Iran - Sanctions Targeting Ongoing Conflicts in Syria,...more

Novel U.S. and EU Sanctions Targeting Russian Financing Activities Raise Unique Compliance Considerations for Global Financial...

Since March 2014, the United States and European Union have imposed multiple rounds of sanctions restricting certain activities with Russian and Ukrainian individuals and companies as a result of the ongoing crisis in...more

China Update - October 2014

In This Issue: - Quote of the Week - U.S.-China Relations - Energy & Environment - Trade - Excerpt from U.S.-China Relations: China’s Foreign Minister Meets with President Obama and Senior...more

Ratcheting up the Pressure: Reinforced Ukraine-related Sanctions on Russia

On September 12, 2014, the United States (“U.S.”) and European Union (“EU”) both announced expanded sanctions related to Russia and Ukraine. These measures seek to increase pressure on the Russian Government to stop...more

State of the Union Talking Points from the White House

The President is going to talk directly to the American people about restoring security for middle class families after a lost decade of declining wages, eroding retirement security and escalating health care and tuition...more

New U.S. Restrictions on Russia: OFAC Guidance and Industry-Specific Sanctions

OFAC Expands the 50 Percent Rule - Last month, the Department of Treasury’s Office of Foreign Assets Control (OFAC) released new guidance related to entities owned or controlled by persons designated as a Specially...more

China Update - September 2014

In This Issue: - U.S-China Relations - Chinese Embassy News - Energy & Environment - Trade - Excerpt from U.S.-China Relations: Ambassador Baucus Remarks on Corruption: On August 15,...more

Tax Policy Issues Prepare for a Rumble on the Gridiron

The clock is running out on the 113th Congress. While the calendar says we are not quite at the two-minute warning, with a truncated September congressional schedule and the campaign season taking up much of the fall, the...more

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