On 24 June 2024, the European Union adopted its 14th sanctions package against Russia since its invasion of Ukraine in 2022. This package introduces a number of targeted measures on the Russian LNG sector. It also strengthens...more
The EU has adopted a new directive which establishes EU-wide rules for defining criminal offences and penalties related to the violation of EU sanctions. A stricter regulatory environment and closer scrutiny is expected as...more
5/22/2024
/ Corporate Governance ,
Economic Sanctions ,
Enforcement Actions ,
EU ,
EU Directive ,
Internal Investigations ,
Jurisdiction ,
Member State ,
Penalties ,
Publicly-Traded Companies ,
Regulatory Agenda ,
Reporting Requirements ,
Sanction Violations ,
Whistleblower Protection Policies
In relation to Russia, the UK has introduced a new sanctions prohibition on the provision of legal advisory services, amended the process for the investigation of trade sanctions offences, and added the Kherson and...more
The UK has sanctioned 'financial fixers' for Russian oligarchs, extended the trust services prohibition to all persons subject to the asset freeze, and issued a General Licence permitting the restructuring or amendment of...more
On 22 March 2021, the European Union ("EU") designated a total of 22 individuals and 4 entities as subject to an asset freeze under the EU sanctions regimes relating to Global Human Rights Sanctions and Myanmar/Burma.
...more
On 2 March 2021, the United States and European Union ("EU") imposed coordinated sanctions in response to the poisoning and imprisonment of Russian opposition politician Aleksey Navalny (and the related US determination that...more
On 7 December 2020, the EU Council adopted a landmark decision and a regulation setting up for the first time a global human rights sanctions framework for the EU. The EU can now respond to serious human rights violations and...more
The EU has recently made certain notable EU asset freeze designations in relation to Belarus1 and Syria, focusing on various government officials – including President Alexander Lukashenko in Belarus -
The Belarusian and...more
11/11/2020
/ Asset Freeze ,
Belarus Sanctions ,
Due Diligence ,
Economic Sanctions ,
EU ,
Exemptions ,
Member State ,
National Security ,
State-Owned Enterprises ,
Syria ,
Travel Ban
The European Commission and the EU's Foreign Policy High Representative have put forward a proposal for a new, non-country-based sanctions programme to address human rights violations and abuses with asset freezes and travel...more
On 2 October 2020, the EU adopted sanctions against Belarus in response to the repression and intimidation against peaceful demonstrators, opposition members and journalists in the wake of the 9 August 2020 presidential...more
On 30 July 2020, the EU designated the first individuals and entities under its 2019 sanctions framework targeting parties involved in cyber-attacks that undermine the EU’s integrity, security and economic competitiveness....more
8/10/2020
/ Asset Freeze ,
China ,
Cyber Attacks ,
Cyber Threats ,
Economic Sanctions ,
EU ,
Intellectual Property Protection ,
List of Specified Persons (LSP) ,
Member State ,
Misappropriation ,
Russia ,
Travel Ban
On 6 July 2020, the UK adopted its first autonomous sanctions regime, imposing asset freezes and travel bans on 47 individuals and two entities across the world accused of serious human rights violations. The new regime marks...more
The UK sanctions authority, the Office of Financial Sanctions Implementation (OFSI), has announced its first multi million pound fine since its establishment in 2016. The fine confirms OFSI’s increasing enforcement activity...more
On 31 March 2020, the Governments of France, Germany, and the United Kingdom (the so-called "E3") confirmed that the first transaction was completed through the Instrument in Support of Trade Exchanges ("INSTEX"),...more
4/3/2020
/ Economic Sanctions ,
EU ,
Exports ,
Food Supply ,
Imports ,
INSTEX ,
Instrument for Supporting Trade Exchanges (INSTEX SAS) ,
Iran ,
Joint Comprehensive Plan of Action (JCPOA) ,
Medical Supplies ,
Payment Systems ,
Swiss Banks ,
United States
France, Germany and the United Kingdom, known as the “E3”, announced on 14 January 2020 that they had triggered the dispute resolution mechanism under the Joint Comprehensive Plan of Action (“JCPOA”) due to concerns about...more
1/17/2020
/ China ,
Dispute Resolution ,
E3+3 ,
Economic Sanctions ,
EU ,
Failure to Perform ,
France ,
Germany ,
Iran ,
Iran Sanctions ,
Joint Comprehensive Plan of Action (JCPOA) ,
Russia ,
UK ,
UN Security Council ,
United Nations ,
Winding Down
On 17 May 2019, the EU put in place a new legal framework for sanctions targeting malicious cyber activities from outside the EU that threaten the Union or its Member States. The aim is to enhance the EU's cyber resilience...more
On May 8, 2019, following Iran's announcement that it intends to suspend certain nuclear proliferation-related commitments under the Joint Comprehensive Plan of Action (JCPOA), the United States issued a new Executive order...more
5/14/2019
/ Blocking Sanctions ,
Blocking Statutes ,
CAPTA List ,
China ,
Economic Sanctions ,
EU ,
Executive Orders ,
Foreign Financial Institutions (FFI) ,
France ,
Germany ,
IFCA ,
Iran ,
Iran Sanctions ,
Joint Comprehensive Plan of Action (JCPOA) ,
Metals ,
Nuclear Power ,
Office of Foreign Assets Control (OFAC) ,
Popular ,
Prohibited Transactions ,
SDN List ,
Steel Industry ,
Suspensions ,
Trump Administration ,
UK ,
Waivers
With Brexit looming, the UK's autonomous sanctions policy is slowly taking shape. This month saw the publication of regulations setting out the post-Brexit UK sanctions regimes for Iran, Burma and Venezuela, which will come...more
3/4/2019
/ Asset Freeze ,
Blocking Statutes ,
Burma ,
Economic Sanctions ,
EU ,
General Licenses ,
Information Sharing ,
Iran ,
Joint Comprehensive Plan of Action (JCPOA) ,
No-Deal Brexit ,
Office of Financial Sanctions Implementation (OFSI) ,
Ownership Rules ,
Reporting Requirements ,
Right to Control ,
Sanctions and Anti-Money Laundering Act 2018 (SAMLA) ,
UK ,
UK Brexit ,
Venezuela
On 21 January 2019, the EU adopted the first sanctions measures under its new sanctions framework targeting parties involved in the use and proliferation of chemical weapons introduced in October 2018...more