The withdrawal of Western companies from Russia in the wake of the war in Ukraine has garnered a lot of attention. But the process does not take place overnight, and many foreign companies that have operated in Russia face...more
12/16/2022
/ Acquisitions ,
Best Practices ,
Economic Sanctions ,
EU ,
Exit Transactions ,
Export Controls ,
Foreign Investment ,
Investment ,
Jurisdiction ,
Russia ,
UK ,
Ukraine
Recent developments, including Russia’s invasion of Ukraine, ongoing tensions between the U.S. and China, and turmoil in the digital assets sector, have made it essential for companies — including their directors and senior...more
On December 5, 2022, the price cap on Russian crude oil that was announced by the G-7 finance ministers in September 2022 went into effect at a level of $60 per barrel. The price cap is implemented by prohibiting the...more
The proliferation of U.S. sanctions and other regulations affecting cross-border transactions has implications for directors, who may be personally liable for violations in some cases. Meanwhile, the Securities and Exchange...more
12/9/2022
/ Anti-Monopoly ,
Board Meetings ,
Board of Directors ,
China ,
Competition ,
Compliance ,
Corporate Counsel ,
Corporate Entities ,
Corporate Governance ,
Corporate Minutes ,
Corporate Officers ,
Cybersecurity ,
Disclosure ,
Documentation ,
Enforcement Actions ,
Environmental Social & Governance (ESG) ,
Exports ,
Financial Fraud ,
Financial Reporting ,
Foreign Policy ,
Joint Venture ,
Market Abuse ,
Merger Controls ,
Money Laundering ,
Non-GAAP Financial Measures ,
Revenue ,
Securities and Exchange Commission (SEC) ,
State Administration for Market Regulation (SAMR) ,
US Trade Policies
In light of the recent referendums and purported annexation by Russia of four territories of Ukraine on September 30, 2022, the United States, United Kingdom and European Union have expanded measures and provided additional...more
10/14/2022
/ Biden Administration ,
Bureau of Industry and Security (BIS) ,
Economic Sanctions ,
EU ,
Export Administration Regulations (EAR) ,
Export Controls ,
Exports ,
Foreign Policy ,
Foreign Relations ,
Office of Foreign Assets Control (OFAC) ,
Russia ,
UK ,
Ukraine
On September 15, 2022, President Joe Biden issued an executive order (EO) “on ensuring robust consideration of evolving national security risks” by the Committee on Foreign Investment in the United States (CFIUS or the...more
Even though significant sanctions and export controls have already been put in place, the United States recently adopted additional measures targeting key elements of the Russian economy and military industry in response to...more
On June 21, 2022, a key element of the Uyghur Forced Labor Prevention Act (UFLPA) went into effect: the rebuttable presumption. Going forward, any imports of goods mined, produced or manufactured wholly or in part in the...more
Bipartisan, bicameral support is mounting for legislation that would create a mandatory outbound investment screening regime to review U.S. investments in China and other countries identified by Congress as countries of...more
On June 6, 2022, President Joe Biden issued a declaration of emergency (the Declaration) that paves the way for a 24-month moratorium on new duties on solar imports. The Declaration was a direct response to the turmoil in...more
6/15/2022
/ Anti-Dumping Duty ,
Biden Administration ,
Countervailing Duties ,
Defense Production Act ,
Electricity ,
Energy Projects ,
Energy Sector ,
Imports ,
Renewable Energy ,
Solar Energy ,
Solar Panels ,
State of Emergency ,
U.S. Commerce Department
Since the publication of our March 24, 2022, and March 17, 2022, client alerts, the U.S., U.K. and European Union, among other allied nations, have imposed additional sanctions and export controls on key elements of the...more
5/2/2022
/ Blocking Sanctions ,
Economic Sanctions ,
EU ,
European Commission ,
Export Controls ,
Exports ,
Financial Institutions ,
Foreign Policy ,
Foreign Relations ,
General Licenses ,
Office of Foreign Assets Control (OFAC) ,
Popular ,
Russia ,
UK
On March 11, 2022, President Joe Biden signed Executive Order 14068 (E.O. 14068) imposing new restrictions on imports and exports with respect to Russia as well as on the supply of U.S. dollar-denominated banknotes to the...more
3/22/2022
/ Bank Notes ,
Banks ,
Biden Administration ,
Economic Sanctions ,
Executive Orders ,
Export Controls ,
Exports ,
Financial Institutions ,
Luxury Goods ,
Office of Foreign Assets Control (OFAC) ,
Russia ,
Ukraine
On March 8, 2022, President Joe Biden issued Executive Order (E.O.) 14066, which bans the import of Russian oil, gas and other energy products into the United States and imposes sweeping prohibitions on new U.S. investment in...more
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
3/10/2022
/ Belarus ,
Blocking Sanctions ,
Bureau of Industry and Security (BIS) ,
Economic Sanctions ,
Export Controls ,
Financial Institutions ,
Office of Foreign Assets Control (OFAC) ,
Popular ,
Russia ,
SWIFT ,
Ukraine
The United States, United Kingdom and the European Union, among other allies, have moved swiftly in response to the Russian Federation’s invasion of Ukraine. Merely hours after Russia’s announcement on February 21, 2022, that...more
This year, we expect to see new disclosure requirements; rule changes at the Securities and Exchange Commission that will affect directors; activists adopting new tactics; changes to shareholder voting processes; tax and...more
Takeaways -
Since 2018, the U.S. and several other countries have revised or installed national security-related screening of foreign direct investments.
Many jurisdictions now require filings for investments in the...more
Takeaways -
Chinese investments requiring CFIUS review have declined as the U.S. scrutinizes those transactions aggressively, and rules governing interactions with “Chinese military-industrial complex companies” have been...more
Takeaways -
As a national and economic security initiative, the Biden administration is developing policies to protect several critical supply chains.
The Commerce Department is expected to take further measures to...more
On December 16, 2021, the U.S. Congress passed legislation that effectively prohibits imports of goods made either wholly or in part in the Xinjiang Uyghur Autonomous Region (Xinjiang) of China. The prohibition relies on a...more
12/23/2021
/ Biden Administration ,
China ,
Corporate Counsel ,
Customs and Border Protection ,
Economic Sanctions ,
Energy Sector ,
Forced Labor ,
Human Rights ,
Imports ,
Solar Energy ,
Supply Chain ,
Withhold Release Orders (WROs)
On October 4, 2021, U.S. Trade Representative Katherine Tai announced the restart of an exclusion process that could lead to the reinstatement of certain exemptions from tariffs imposed on Chinese imports under Section 301 of...more
10/13/2021
/ Biden Administration ,
China ,
Exclusions ,
Imports ,
Public Comment ,
Requests for Exclusion ,
Section 301 ,
Supply Chain ,
Tariffs ,
Trade Relations ,
US Trade Policies ,
USTR