News & Analysis as of

G7

Dorsey & Whitney LLP

Biden Administration Again Expands Sanctions on Russia and Its Third Party Supporters

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As Russia continues its war against Ukraine and Ukraine has itself recently opened a new front by capturing Russian territory in its Kursk region, the United States announced on August 23 its latest tranche of sanctions...more

BakerHostetler

The PROVE IT Act

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The Providing Reliable, Objective, Verifiable Emissions Intensity and Transparency Act, or the PROVE IT Act, is a bipartisan act aimed at enhancing the transparency and accountability of global carbon emissions. Introduced by...more

WilmerHale

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

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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

Cadwalader, Wickersham & Taft LLP

US and UK Issue New Round of Russia-Related Sanctions in Connection with G7 Summit

During the week of the G7 Summit, both the U.S. and UK issued a new round of Russia-related sanctions as Russia’s invasion of Ukraine enters its 28th month. On June 12, 2024, the U.S. Department of the Treasury’s Office of...more

White & Case LLP

AI Watch: Global regulatory tracker - G7

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The G7's AI regulations mandate Member States' compliance with international human rights law and relevant international frameworks. Laws/Regulations directly regulating AI (the “AI Regulations”) The G7 nations have...more

Foley Hoag LLP

Developments in U.S. International Trade Laws Since the Start of 2023 and What to Expect for the Rest of 2024

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Throughout 2023 and early 2024, we continue to witness deepening geopolitical and economic divides globally. The U.S. and its allies (most significantly the EU and the G7), spurred on by Russia’s war in Ukraine, continue to...more

American Conference Institute (ACI)

Sanctions Compliance Measures to Mitigate Russia Trade Sanctions Evasion Tactics

The various and elusive tactics used by Russia to evade global sanctions and export controls have grown increasingly sophisticated over the last several months, putting the onus on multinational entities to become equally...more

A&O Shearman

Russia: further tightening of EU and UK sanctions

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In light of the ongoing Russian invasion of Ukraine, the UK and EU, in close collaboration with their G7 partners, have continued to exert economic pressure on Russia through an array of sanctions. In this bulletin, we...more

Akin Gump Strauss Hauer & Feld LLP

New EU & UK Sanctions

EU’s 12th Sanctions Package - On 19 December 2023, the Council of the European Union (EU) together with the Commission published its 12th round of sanctions....more

Wilson Sonsini Goodrich & Rosati

International Guiding Principles and Cybersecurity Guidelines for AI Actors Adopted by G7 and Other Major Economies

During the last weeks of 2023, the international community announced several initiatives designed to establish common standards for AI actors to implement in their development and use of AI. On October 30, 2023, the leaders...more

Snell & Wilmer

G7 Commits to Tackling Antitrust Concerns Posed by AI Technologies

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Following a summit in Japan, the Group of Seven (“G7”) Competition Authorities and Policymakers issued a statement on November 8, 2023, that expressed a commitment to proactively address antitrust issues that could arise as...more

Foley Hoag LLP

OFAC Publishes Maritime Oil Industry Advisory and Makes Example of Shipping Companies and Vessels Who Violated G7’s Price Cap...

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On October 12, 2023, the Department of the Treasury's Office of Foreign Assets Control (“OFAC”) published a Maritime Oil Industry Advisory (“Advisory”)—together with the so-called Price Cap Coalition (“Coalition”), consisting...more

Latham & Watkins LLP

HM Treasury Consults on Reforms to UK Anti-Money Laundering Supervision

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The consultation sets out four potential models for reform, and also considers reform to sanctions supervision. On 30 June 2023, HM Treasury published a consultation on reforms to anti-money laundering (AML) and...more

BCLP

Key takeaways from the United States - Australia Climate, Critical Minerals and Clean Energy Compact

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The United States - Australia Climate, Critical Minerals and Clean Energy Transformation Compact (the “Compact”) is a landmark formal statement of strategic intent to establish climate, clean energy and a shared energy...more

Torres Trade Law, PLLC

Post-G7 Sanctions – Putting the G7 Leaders Voiced Concerns into Action

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In May 2023, the leaders of the United States, Canada, France, Germany, Italy, Japan, and the United Kingdom gathered in Hiroshima, Japan, for the annual G7 summit. The symbolic significance of these global leaders meeting in...more

ArentFox Schiff

Stopping Just Short of the Kitchen Sink, USG Requires Licenses for Exports of Entire HTS Chapters to Russia

ArentFox Schiff on

During the G7 meeting in Japan on May 19, 2023, the US Department of Commerce’s Bureau of Industry and Security (BIS) published two new rules aimed at further restricting Russia’s ability to obtain items needed to support its...more

Eversheds Sutherland (US) LLP

Russia sanctions update - June 2023

On May 19, 2023, the Biden Administration along with leaders of the Group of Seven (G7), unveiled a new package of sanctions. The G7 leaders released a joint statement reaffirming their commitment to offer “the financial,...more

Venable LLP

U.S. Imposes Additional Sweeping Sanctions on Russia in Coordination with G7 Countries

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On May 19, 2023, the United States, in coordination with the G7 and other international partners, imposed significant new sanctions on Russia aimed to further degrade the Russian Federation's capacity to wage war against...more

Venable LLP

U.S., EU, and U.K. Sanctions: Closer Cooperation, Tougher Implementation

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The EU's foreign policy chief, Josep Borrell, said in March that the bloc has nearly exhausted its options for punitive measures against Russia: "There is little left to control other than basic commercial items." The focus...more

Seward & Kissel LLP

Compliance Flash: OFAC Announces New Reporting Requirement for Persons Who Hold Property of Certain Russian Entities

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On May 19, 2023 the United States, in coordination with the G7 and other international partners, imposed more than three-hundred new sanctions on Russia for its war in Ukraine. Press releases providing additional information...more

K2 Integrity

Sanctions Against Russia: Recent Developments - May 2023

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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

Fenwick & West LLP

U.S. Government Imposes New Export Controls and Sanctions on Russia and Belarus

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On May 19, 2023, the Biden administration announced another major round of U.S. sanctions and export controls against Russia and Belarus in response to the ongoing war in Ukraine, in coordination with the G7 Leaders’ Summit...more

A&O Shearman

U.S. Strengthens Sanctions and Export Controls on Russia in Coordination with G7 Partners

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On May 19, 2023, the U.S., in coordination with the G7 and other international partners, released a new tranche of sanctions and other restrictive economic measures to further target Russia’s capacity to continue its...more

Dechert LLP

Not If, but When: An Update on Outbound Investment Review

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The Biden Administration appears to be moving forward with plans to establish a mechanism through Executive Order to review outbound investments from the United States to protect U.S. national security. Recent reporting...more

WilmerHale

The Emergence of a Global Russia Sanctions Enforcement Regime

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The year since Russia’s invasion of Ukraine has been marked by the development of a multi-jurisdictional, multi-agency sanctions regime in the United States, the United Kingdom and the European Union. Although coordination...more

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