Sanctions Round Up: Third Quarter 2020

This quarter, the U.S. announced new sanctions and trade restrictions on China in response to its perceived intrusions on Hong Kong’s autonomy and reported human rights abuses in Xinjiang. The Trump Administration acted unilaterally to curtail Iran’s acquisition of conventional military weapons after receiving little international support for a snapback of U.N. sanctions. And, in a last-ditch effort to stall completion of the Nordstream 2 and Turkstream pipelines, the U.S. expanded the scope of potential sanctions on vessel owners and service providers involved in construction activities. Finally, among other enforcement actions this quarter, several U.S. companies agreed to settle potential liability arising from compliance failures by foreign subsidiaries.

Please see full Memo below for more information.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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