News & Analysis as of September 21, 2024

Economic Sanctions

+ Follow

The European Union is an economic and political partnership comprised of 27 nations within the Eurozone. The EU was established in 1948 to promote stability and cooperation among member states in the aftermath of WWII. The EU maintains a common currency as well as several intranational institutions, including the European Parliament and the European Commission. less -

EU Introduces “Best Efforts” Requirement for Non-EU Subsidiaries Not to Undermine EU Sanctions Against Russia

Latham & Watkins LLP on 8/12/2024

The EU’s 14th “package” of sanctions against Russia introduces anti-circumvention measures targeting the non-EU subsidiaries of EU entities and creates new restrictions, including on LNG. This Client Alert is published in...more

Brussels Regulatory Brief: June 2024

K&L Gates LLP on 7/29/2024

Antitrust and Competition - The European Commission to Take Action to Address Territorial Supply Constraints - On 24 May 2024, the EU Commissioner for Competition, Margrethe Vestager, announced that the European Commission...more

Brussels Regulatory Brief: May 2024

K&L Gates LLP on 6/7/2024

Antitrust and Competition - The European Commission Approves Plan to Unwind a Completed Transaction in the Early Cancer Detection Sector - On 12 April 2024, the European Commission (Commission) approved the plan to unwind a...more

Spotlight on the “Partner Countries” Exemption from Sanctions against Russia

McDermott Will & Emery on 6/7/2024

From June 20, 2024, EU companies with a presence in Russia will no longer be able to rely on the “partner countries” exemption and will be required to obtain, or rely on, a licence to provide business services and/or software...more

Adoption of Directive (Ue) 2024/1226 on Criminalisation of Violations of EU Sanctions: What Are the Stakes Involved in Transposing...

BCLP on 6/5/2024

On 19 May, Directive (EU) 2024/1226 on the definition of criminal offences and sanctions for breaches of EU restrictive measures, adopted by the EU Council on 24 April, entered into force. By harmonizing the laws of the...more

EU establishes harmonized enforcement and penalties for sanctions violations

White & Case LLP on 5/22/2024

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

Brussels Regulatory Brief: March 2024

K&L Gates LLP on 3/29/2024

Antitrust and Competition - The European Commission Fines Apple EUR 1.8 billion for Abusing Its Dominant Position in the Music Streaming Sector - On 4 March 2024, the European Commission (Commission) fined Apple EUR 1.8...more

Teeth Can Bite: Towards Harmonized Rules on EU Sanctions Criminal Enforcement

Mayer Brown on 3/15/2024

On March 12, 2023, the European Parliament ("EP") formally endorsed the adoption of a Directive defining criminal offences and penalties for the violation of European Union ("EU") restrictive measures, colloquially known as...more

Brussels Regulatory Brief: Winter 2023-2024

K&L Gates LLP on 2/13/2024

Antitrust and Competition - The European Court of Justice Held Rules Set by Sports Governing Bodies Must Comply With EU Competition Law - On 21 December 2023, the European Court of Justice (ECJ) held in a preliminary ruling...more

Brussels Regulatory Brief: November 2023

K&L Gates LLP on 12/7/2023

Antitrust and Competition - European Commission Approves Consolidation in the Ground Transportation Sector Subject to Remedies - The companies are two global suppliers of signalling systems for mainline and urban railway...more

The BCA takes action: first investigation under the abuse of economic dependence rules

A&O Shearman on 12/6/2023

The Belgian Competition Authority (the BCA) announced last week that it has initiated an ex officio investigation into a possible abuse of economic dependence in the agricultural sector, making this the BCA’s first formal...more

Sanctions Update: EU and UK Impose Sweeping Import Restrictions on Russian-Origin Iron and Steel

Latham & Watkins LLP on 11/8/2023

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

EU’s 11th package of sanctions on Russia targets third-country evasion, expands existing restrictions and extends derogations

White & Case LLP on 7/12/2023

The EU adopted its eleventh sanctions package against Russia on 23 June, 2023. A new anti-circumvention framework enables the EU to tackle sanctions evasion through third countries. The EU extends the scope of existing...more

[Event] European Forum on Global Economic Sanctions - June 1st - 2nd, Berlin, Germany

American Conference Institute (ACI) on 5/1/2023

Hosted by C5 Group, the European Forum on Global Economic Sanctions is recognized as Europe's Premier, longstanding gathering for financial institutions and global exporters. The industry across Europe is confronting an...more

The Emergence of a Global Russia Sanctions Enforcement Regime

WilmerHale on 4/28/2023

The year since Russia’s invasion of Ukraine has been marked by the development of a multi-jurisdictional, multi-agency sanctions regime in the United States, the United Kingdom and the European Union. Although coordination...more

Banking Bites - June 2022

BCLP on 6/21/2022

New High Court case considers nature and scope of the Quincecare duty - In June, the Court of Appeal expanded the scope of a bank’s duty of care to protect its customers from fraud to encompass instructions by those other...more

U.S. Government Authorizes Transactions Related to Patent Protection in Russia

Goodwin on 5/9/2022

On May 5, 2022, the Office of Foreign Assets Control of the U.S. Department of the Treasury issued General License No. 31 (“GL31”), which authorizes transactions in connection with the filing and prosecution of patent...more

Top EU Court Clarifies Anti-US Sanctions “Blocking Statute”

Latham & Watkins LLP on 1/7/2022

The court explains how the controversial EU law operates to bar EU persons from complying with US sanctions on Iran and Cuba. On 21 December 2021, the Court of Justice of the European Union (CJEU) released its long-awaited...more

EU designates parties under Human Rights and Myanmar regimes

White & Case LLP on 3/26/2021

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

The EU adopts a new global human rights sanctions regime

A&O Shearman on 1/6/2021

In a much-anticipated move, on 7 December 2020, the Council of the European Union adopted a Council Decision and a Council Regulation establishing the EU’s global human rights sanctions regime (the GHRSR). ...more

EU marks Human Rights Day with new global human rights sanctions regime

White & Case LLP on 12/9/2020

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

New notable EU asset freeze listings in relation to Belarus and Syria

White & Case LLP on 11/11/2020

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

EU extends sanctions on Belarus following Presidential elections

White & Case LLP on 10/9/2020

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

EU designates nine persons for malicious cyber-attacks threatening the EU or its Member States

White & Case LLP on 8/10/2020

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

U.S. Imposes Sanctions on Turkish Officials, Ministries in Response to Syrian Offensive

Jones Day on 10/25/2019

The Situation: In response to events in Syria and in the face of strong Congressional pressure to act, President Trump introduced sanctions targeting Turkey. The Result: Although the President indicated that a ceasefire...more

32 Results

View per page

Page: of 2

European Union › Member State › Economic Sanctions

"My best business intelligence, in one easy email…"