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SWIFT Financial Institutions

Perkins Coie

Recent Developments in US Sanctions and Export Controls Targeting Russia

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Following Russia’s recognition of breakaway regions in Ukraine and full-scale invasion of the country, authorities in the United States, United Kingdom, European Union, and across the globe imposed a sweeping array of trade...more

White & Case LLP

EU expands financial sanctions against Belarus and adds Russia maritime equipment and capital market restrictions

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On 9 March, the EU added various new financial restrictions in relation to Belarus, including a SWIFT ban on three Belarusian banks. In relation to Russia, the EU added trade restrictions on maritime navigation equipment and...more

K2 Integrity

Global Markets May Face Risk of Virtual Currency Abuse as Russian Actors Seek to Circumvent Sanctions

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The United States, the United Kingdom, and European Union have led a broad international coalition imposing a sweeping and unprecedented range of economic and financial sanctions against Russia and Belarus in response to...more

K2 Integrity

Sanctions Against Russia: The Week in Review

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The Week in Review delivers the impact and analysis for the public, private, and non-governmental sectors from our daily reporting of the evolving global sanctions campaign against Russia. This week, we reviewed the recent...more

Spilman Thomas & Battle, PLLC

All Consuming - Financial Litigation Insights, Volume 3, Issue 3

Student Loans: Stressors and Pitfalls as Repayments Begin and CFPB Actions Against Alleged Fraudulent Conduct - On March 13, 2020, near the beginning of the pandemic in the U.S., the CARES Act included a pause for all...more

Skadden, Arps, Slate, Meagher & Flom LLP

US, UK and EU Ramp Up Sanctions and Export Controls as Russia’s Invasion of Ukraine Continues

Since the publication of our February 26, 2022, client alert, the United States, United Kingdom and the European Union, among other allied nations, have imposed additional sanctions and export controls on key elements of the...more

Pillsbury - Global Trade & Sanctions Law

Making Sense of Sanctions Versus SWIFT Delisting

On February 27, 2022, the U.S., UK, and EU announced their agreement that certain Russian banks would be delisted from the Belgian-based Society for Worldwide Interbank Financial Telecommunication (SWIFT). ...more

Miles & Stockbridge P.C.

Review of the Current Sanctions and Export Controls on Russia as Military Advances through Ukraine

Highlights - ..This Miles & Stockbridge alert provides a summary of the latest sanctions and developments regarding the ongoing situation in Ukraine. ..In response to Russia’s continued war operations and military...more

White & Case LLP

EU de-SWIFTs seven Russian banks; prohibits investments with RDIF; restricts Euro banknotes to Russia and imposes media ban

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On 2 March 2022, the European Union (EU) adopted its fourth package of sanctions against Russia. It excluded seven Russian banks from SWIFT, in consultation with the UK, US and Canada. It also banned co-investments with the...more

Snell & Wilmer

Global Connection - The Russia-Ukraine Conflict: Updated Sanctions, SWIFT Action, and Impact on Global Trade

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The international community continues to heighten the compliance burden for companies with business ties to Ukraine and Russia following a new round of sanctions. On February 26, 2022, the United States, along with several...more

Perkins Coie

Sanctioning Russia Over Invasion of Ukraine

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On February 21, 2022, Russian President Vladimir Putin unilaterally recognized the Luhansk and Donetsk regions in Eastern Ukraine (Covered Regions) as independent states. Thereafter, Mr. Putin authorized a full-scale invasion...more

Foley & Lardner LLP

New U.S. Sanctions on Russia and Belarus in Response to the Ukraine Invasion Impose New Compliance Responsibilities

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Beginning on February 24, 2022, the U.S. Department of the Treasury Office of Foreign Assets Control (OFAC) and the U.S. Department of State imposed several successive waves of economic sanctions on Russia following the...more

Robins Kaplan LLP

Shell and BP Cut Ties With Russia As West’s Sanctions Intensify

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After a weekend in which the West’s major economies made it clear that they’re choosing economic isolation as the desired means of punishing Vladimir Putin and Russia for their invasion of Ukraine, Shell and BP have both...more

Akerman LLP

Financial Sanctions and Export Controls Continue after Russian Invasion of Ukraine – More to come

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The United States government continues to impose significant economic sanctions and export control measures following Russia’s invasion of Ukraine. On February 24, 2022, the U.S. Commerce Department’s Bureau of Industry and...more

Orrick, Herrington & Sutcliffe LLP

Considerations for Companies Doing Business in and with Russia

Building on the “first tranche” of sanctions announced on February 22, 2022 described in our prior alert, the United States, the EU, the UK, and their allies have imposed (or announced the imposition of) additional...more

Bass, Berry & Sims PLC

Russia, Ukraine: Update as of the Evening of February 28

This UPDATED post summarizes the situation as of late evening on Monday, February 28, concerning current U.S. sanctions and export restrictions related to Russia and Ukraine. This post supplements our post of late evening on...more

Hogan Lovells

Summary of February 24 U.S. sanctions and export controls on Russia

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On February 24, 2022, the US Government imposed severe economic sanctions and export controls on Russia. The restrictions consist of two parts: 1) significant financial sanctions on a range of Russian financial institutions...more

K2 Integrity

The U.S., UK, and EU Provide a Joint Response to Russian Aggression in Ukraine

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Over the past week, the Russian Federation has taken a number of aggressive steps toward Ukraine in furtherance of its ultimate invasion—steps that were immediately condemned by the international community as a blatant...more

Sheppard Mullin Richter & Hampton LLP

A Ruble Without a Cause: What Economic Sanctions on Russia May Mean for Your Business and Global Finance

With Russian forces massing at the Ukrainian border, the U.S. and EU have been warning of severe economic sanctions. While we wait and watch this brinksmanship play out, it is worth considering how businesses, and...more

Orrick, Herrington & Sutcliffe LLP

China’s Digital Currency and What This Could Mean For Foreign Companies and Financial Institutions in China

China is operating increasingly on a cashless basis. In 2020, cashless transactions amounted to US$49 trillion, accounting for every four out of five payment transactions. The Chinese government has now taken a large leap in...more

K2 Integrity

Shift to Open Account Trade Highlights Evolving Risks in the Maritime Sector

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In recent years, importers, exporters, and their financial institutions have shifted away from traditional, document-based trade finance instruments and toward non-documentary, “open account” settlement through clean wire...more

Skadden, Arps, Slate, Meagher & Flom LLP

Privacy & Cybersecurity Update - November 2017

In this month's edition of our Privacy & Cybersecurity Update, we discuss a Washington state court decision allowing a data breach lawsuit to move forward on a negligence claim, a Ninth Circuit ruling regarding releasing...more

Robins Kaplan LLP

Your Daily Dose of Financial News

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We know that China’s Didi Chuxing is powerful enough to have driven Uber out of China altogether. So what happens when Didi sets its sights outside of Chinese borders? Flush with $5.5 billion in new funding, Didi is likely...more

Robinson+Cole Data Privacy + Security Insider

SWIFT Shores Up Network Security With Real Time Cybersecurity Tools

In an effort to combat an increasing number of fraudulent transfers carried out using its network, SWIFT, the international bank transfer network, announced this month that it is adding new tools and controls designed to...more

Robinson+Cole Data Privacy + Security Insider

The State of Cybersecurity in 2016 and the (potential) Great Cyber Fire

Cybersecurity hit the news hard in 2016. The number of high profile, and troubling, cyber incidents increased significantly. The Democratic National Committee and one of Clinton’s top advisor’s being hacked, with leaked...more

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