The report shows a decline in filings, new mitigation measures and conditions, and continued emphasis on monitoring and enforcement.
On July 23, 2024, the Committee on Foreign Investment in the United States (CFIUS)...more
The proposed regulations would implement President Biden’s Executive Order that restricts certain outbound investments from the US.
On June 21, 2024, the US Department of the Treasury (Treasury) issued a Notice of Proposed...more
7/2/2024
/ Advanced Notice of Proposed Rulemaking (ANPRM) ,
Biden Administration ,
Bureau of Industry and Security (BIS) ,
China ,
Controlled Foreign Corporations ,
Covered Entities ,
Executive Orders ,
Foreign Investment ,
Foreign Policy ,
International Emergency Economic Powers Act (IEEPA) ,
Military End Use ,
National Security ,
Outbound Transactions ,
Popular ,
Prohibited Transactions ,
Proposed Regulation ,
Public Comment ,
SDN List ,
Technology Sector ,
U.S. Commerce Department ,
U.S. Treasury
The new Directive (EU) 2024/1226 defines criminal offences and penalties for breaches of EU sanctions. This Client Alert summarises key provisions and implications for businesses.
This Client Alert is published in the...more
The UK’s latest sanctions affect multiple areas and actors, including Turkish, Chinese, and Dubai-based entities alleged to support Russian military activities.
This Client Alert is published in the context of ongoing...more
The EU’s 12th and 13th “packages” of sanctions on Russia cancel a significant exemption, ban the provision of certain software systems, and impose multiple other measures.
This Client Alert is published in the context of...more
4/26/2024
/ Economic Sanctions ,
Enterprise Management Incentive (EMI) ,
EU ,
European Economic Area (EEA) ,
Exports ,
Foreign Nationals ,
Imports ,
Professional Services Contract ,
Russia ,
SaaS ,
Technology Sector
The proposal signals a continued effort to expand CFIUS’s enforcement scope and update penalties.
On April 11, 2024, the US Department of the Treasury (Treasury) issued a Notice of Proposed Rulemaking (the Proposed Rule)...more
The new measures bar the import of iron or steel products processed in countries other than Russia but incorporating Russian-origin iron or steel components. The measures form part of a series of significant sanctions updates...more
The new measures build on sweeping restrictions that the United States introduced in October 2022.
On October 17, 2023 — just over a year after introducing extensive regulations aimed at restricting parties in China from...more
10/31/2023
/ Bureau of Industry and Security (BIS) ,
China ,
Defense Sector ,
Entity List ,
Export Controls ,
Exports ,
Military End Use ,
National Security ,
Semiconductors ,
Technology Sector ,
U.S. Commerce Department
After publicly signaling support for an outbound investment screening mechanism in July 2022, the Biden Administration has issued a long-anticipated Executive Order to address certain investments by US persons in “countries...more
8/16/2023
/ Advanced Notice of Proposed Rulemaking (ANPRM) ,
Biden Administration ,
China ,
Comment Period ,
Executive Orders ,
Foreign Investment ,
Hong Kong ,
International Emergency Economic Powers Act (IEEPA) ,
Macau ,
National Security ,
Outbound Acquisitions ,
Outbound Transactions ,
Prohibited Transactions ,
U.S. Treasury
The Report shows that CFIUS reviewed a record number of filings in 2022 and also required more mitigation as a condition of clearance.
On July 31, 2023, the Committee on Foreign Investment in the United States (CFIUS)...more
8/8/2023
/ CFIUS ,
China ,
Critical Infrastructure Sectors ,
Cross-Border Transactions ,
Enforcement ,
Foreign Acquisitions ,
Foreign Investment ,
Life Sciences ,
National Security ,
Singapore ,
United Arab Emirates (UAE)
Companies that promptly self-disclose and remediate potential violations of administrative or criminal law may significantly mitigate liability.
On July 26, 2023, the US Departments of Justice (DOJ), Commerce, and the...more
8/3/2023
/ Bureau of Industry and Security (BIS) ,
Compliance ,
Department of Justice (DOJ) ,
Economic Sanctions ,
Enforcement Authority ,
Export Controls ,
Exports ,
Joint Policy Statements ,
Joint Statements ,
National Security ,
Office of Foreign Assets Control (OFAC) ,
Russia ,
Sanction Violations ,
Self-Reporting
New measures expand existing sanctions and export controls, including by restricting medical item exports and targeting Russia’s architecture and engineering sectors.
This Client Alert is published in the context of...more
The recent developments signal a renewed vigor to protect US national security.
This Client Alert highlights the following recent developments relating to national security investment reviews conducted by the Committee on...more
The first-ever tri-seal Note highlights tactics used to circumvent Russia-related restrictions, while NSD adds 25 prosecutors focusing on sanctions and export controls.
In May 2022, shortly after hostilities in Ukraine...more
3/21/2023
/ Compliance ,
Department of Justice (DOJ) ,
Economic Sanctions ,
Enforcement Actions ,
Export Controls ,
Military Conflict ,
Risk Management ,
Russia ,
Sanction Violations ,
U.S. Commerce Department ,
U.S. Treasury ,
Ukraine
New announcements and rules expand the scope of existing sanctions and export controls on Russia.
This Client Alert is published in the context of ongoing developments and should be read in conjunction with the Latham’s...more
3/16/2023
/ Biden Administration ,
Blocked Person ,
Bureau of Industry and Security (BIS) ,
Economic Sanctions ,
Embargo ,
Executive Orders ,
Export Administration Regulations (EAR) ,
Export Controls ,
Financial Transactions ,
Foreign Policy ,
Foreign Relations ,
Foreign Trade Regulations ,
General Licenses ,
Infrastructure ,
Military Conflict ,
Office of Foreign Assets Control (OFAC) ,
Oil & Gas ,
Oil Prices ,
Pipelines ,
Russia ,
SDN List ,
Ukraine
The joint Strike Force will focus on shielding advanced US technology from nation-state adversaries and on prosecuting export controls violations.
On February 16, 2023, the US Departments of Justice and Commerce announced...more
The price cap operates as an exemption to the ban on transportation of Russian seaborne crude oil to other countries.
This Client Alert is published in the context of ongoing developments and should be read in conjunction...more
12/12/2022
/ Crude Oil ,
Economic Sanctions ,
EU ,
G7 ,
General Licenses ,
Office of Foreign Assets Control (OFAC) ,
Oil & Gas ,
Oil Prices ,
Russia ,
Safe Harbors ,
UK ,
Ukraine
While the Guidelines are not legally binding, they signal CFIUS’s clear intent to take an active approach to compliance and enforcement.
On October 20, 2022, the US Department of the Treasury, as Chair of the Committee on...more
The EU has issued its eighth “package” of sanctions measures on Russia. Meanwhile, US agencies have issued guidance on “secondary” sanctions enforcement, designated additional SDNs, and restricted further exports to Russia —...more
10/12/2022
/ Asset Freeze ,
Bureau of Industry and Security (BIS) ,
Economic Sanctions ,
EU ,
Export Controls ,
Exports ,
Foreign Policy ,
Foreign Relations ,
Imports ,
Military Conflict ,
Oil & Gas ,
Russia ,
SDN List ,
State-Owned Enterprises ,
Ukraine
President Biden sends a message to foreign investors and the business community that CFIUS will closely scrutinize transactions presenting certain risk factors.
On September 15, 2022, President Biden issued an Executive...more
9/27/2022
/ Biden Administration ,
CFIUS ,
Critical Infrastructure Sectors ,
Cross-Border Transactions ,
Cybersecurity ,
Executive Orders ,
Foreign Investment ,
National Security ,
Personal Data ,
Risk Mitigation ,
Supply Chain ,
Technology Sector
M&A deal teams face complicated legal issues amidst rapidly changing global sanctions and guidance.
Russia’s invasion of Ukraine has created new headwinds for M&A dealmakers, as a complicated matrix of sanctions and...more
9/14/2022
/ Acquisitions ,
Economic Sanctions ,
Export Controls ,
Foreign Investment ,
Mergers ,
Risk Assessment ,
Russia ,
Target Company ,
Trade Restrictions ,
UK ,
Ukraine
The report reflects CFIUS’ work during the first full year since the Foreign Investment Risk Review Modernization Act implementing regulations took effect.
On August 2, 2022, the Committee on Foreign Investment in the...more
If enacted, the bill would establish an interagency committee in the US to review certain outbound investment and other activity affecting supply chain security, domestic production, and manufacturing capacities.
Key...more
The EU’s “maintenance and alignment” sanctions target additional Russian persons, enhance existing sanctions, and implement new prohibitions - including on the import of Russian gold.
This Client Alert is published in the...more
The ban hits new investment in Russia and certain professional services, while also restricting imports of Russian oil, coal, and gold and exports of key industrial goods.
This Client Alert is published in the context of...more