On 16 December 2024, the EU adopted several new sanctions measures, including its 15th package of sanctions against Russia which expands the sectoral and financial restrictions applicable to Russian persons. The EU also...more
The new EU notification requirements relating to transfers of funds out of the EU by EU entities with a certain level of direct or indirect Russian ownership enters into force soon. The reporting obligation has a broad scope,...more
On 2 September 2022, HM Government – through the Treasury – exercised its power to request information by issuing a financial sanctions notice requesting that all persons that hold or control funds or economic resources...more
UK Government introduces new sanctions measures and extends the reporting obligations to Cryptoasset exchange and custodian wallet providers. The UK Government has implemented new restrictions in relation to investments in...more
UK Prime Minister Boris Johnson announces the “largest and most severe package of economic sanctions that Russia has ever seen” before Parliament and OFSI designates additional Russian entities and individuals as asset freeze...more
The UK Government has strengthened its Russian sanctions legislation by extending its sanctions designation criteria to target Russian businesses and individuals in a wide range of economic and strategically significant...more
On 20 July 2020, UK Foreign Secretary Dominic Raab announced (through a statement to the House of Commons) that as part of the UK's response to China’s imposition of new national security laws on Hong Kong...more
The EU has extended until 31 January 2021 restrictive measures against Russia that target the financial, energy and defence sectors, as well as the area of dual-use goods....more
The Council of the European Union has imposed restrictive measures on 11 leading Venezuelan officials, because of their role in acts and decisions undermining democracy and the rule of law in Venezuela....more
Earlier this month, France, Germany and the UK triggered the dispute process under the Iran nuclear deal, saying they had been "left with no choice" after Iran decided to further reduce compliance with the agreement. The...more
1/29/2020
/ Consultation Periods ,
Cooperative Compliance Regime ,
Dispute Resolution ,
EU ,
Failure to Comply ,
Foreign Policy ,
Foreign Relations ,
France ,
Germany ,
Iran ,
Iran Sanctions ,
Joint Comprehensive Plan of Action (JCPOA) ,
Nuclear Weapons ,
The Joint Commission ,
Trump Administration ,
UK
What lies ahead for the UK's future trading relationship with the EU and the US?
Following the Conservative Party's landslide victory in the UK general election, which Boris Johnson won on a promise to "get Brexit done",...more
12/17/2019
/ Cross-Border Transactions ,
EU ,
Exports ,
Foreign Relations ,
Imports ,
Trade Negotiations ,
Trade Relations ,
Trump Administration ,
UK ,
UK Brexit ,
US Trade Policies
The EU-UK agreement reached on 17 October 2019 ("Agreement") revises the Irish backstop with a new protocol on Ireland/Northern Ireland ("NI protocol")....more
10/21/2019
/ Customs ,
Customs Unions ,
Duties ,
EU ,
EU Single Market ,
Exports ,
Foreign Relations ,
Imports ,
Ireland ,
Member State ,
Northern Ireland ,
Territorial Disputes ,
Trade Policy ,
Trade Relations ,
UK ,
UK Brexit
On 14 October, President Donald Trump issued Executive Order 13894, Blocking Property and Suspending Entry of Certain Persons Contributing to the Situation in Syria (EO).
...more
10/18/2019
/ Blocked Person ,
Economic Sanctions ,
Executive Orders ,
Foreign Financial Institutions (FFI) ,
Foreign Policy ,
Foreign Relations ,
General Licenses ,
Office of Foreign Assets Control (OFAC) ,
SDN List ,
Syria ,
Trump Administration ,
Turkey ,
Unauthorized Transactions
On 2 May 2019, the U.S. Treasury's Office of Foreign Assets Control ("OFAC"), the agency responsible for enforcing economic sanctions, published "A Framework for OFAC Compliance Commitments" (the "Framework") which outlines...more
7/3/2019
/ Cooperative Compliance Regime ,
Economic Sanctions ,
Failure to Comply ,
Foreign Policy ,
Foreign Relations ,
Framework Agreement ,
Fund Managers ,
Internal Controls ,
Investment Funds ,
Investment Management ,
Office of Foreign Assets Control (OFAC) ,
Private Equity ,
Risk Assessment ,
Sanction Violations
The updated version of the EU Blocking Regulation enters into force On 7 August 2018, the EU published: (1) Commission Delegated Regulation (EU) 2018/1100 (Amending Regulation)...more
On 6 June 2018, the European Commission ("Commission") adopted a draft Delegated Regulation expanding the scope of Council Regulation (EC) No 2271/96 ("EU Blocking Regulation") to include the extra-territorial aspects of the...more
6/8/2018
/ Blocking Statutes ,
Covered Transactions ,
EU ,
European Commission ,
Extraterritoriality Rules ,
Foreign Relations ,
Iran ,
Iran Sanctions ,
Regulatory Oversight ,
Regulatory Requirements ,
Risk Management