The Singapore Exchange (SGX) expects issuers to manage global sanctions risk, not just the risk from Singapore-imposed sanctions. Sanctions risks need to managed on a group-wide basis, including subsidiaries and affiliates...more
The EU’s 16th sanctions package on Russia represents a significant expansion of measures, including additional restrictions on Russian banks, further oil and gas related restrictions, and new export and import restrictions. ...more
On 12 March 2025, the EU announced that it will impose countermeasures in response to new tariffs imposed by the US on steel and aluminium imports. The EU countermeasures are twofold: First, the European Commission will...more
From 9 January 2025, EU payment service provides are required to shift away from transaction-based sanctions screenings for certain intra-EU instant credit payments Regulation (EU) 2024/886, the “Instant Payment Regulation”,...more
On 16 December 2024, the EU adopted several new sanctions measures, including its 15th package of sanctions against Russia which expands the sectoral and financial restrictions applicable to Russian persons. The EU also...more
The recent EU and UK sanctions adopted against Russia, have impacted economic operators in many ways. This article provides an overview of the current sanctions prohibitions affecting holders and traders of intellectual...more
Significant legislative changes have been made to the UK’s sanctions regime in the first half of September 2024, namely: These new amendments demonstrate the UK’s further efforts in imposing penalties against sanctions...more
The below alert provides a high-level overview of several measures recently adopted by the European Union (the “EU”) targeting Russia and Belarus, which include: (1) A new Russia sanctions regime, adopted on 27 May 2024,...more
On 24 April 2024, the European Union adopted a directive criminalizing the following sanctions violations: The directive brings significant changes to EU sanctions enforcement by harmonising the rules on the violation of EU...more
The new EU notification requirements relating to transfers of funds out of the EU by EU entities with a certain level of direct or indirect Russian ownership enters into force soon. The reporting obligation has a broad scope,...more
October 2023 marked the first anniversary of the enhanced partnership between the United States Department of the Treasury’s Office of Foreign Assets Control (OFAC) and the United Kingdom Office of Financial Sanctions...more
The UK is creating a new Office for Trade Sanctions Implementation, which will sit within the Department for Business and Trade and will be responsible for the civil enforcement of the UK’s trade sanctions regime (i.e....more
On 24 February 2023, the U.S. intensified its sanctions on Russia and released new trade control measures targeting key sectors, evasion efforts, and military supplies. Taken together, the additional sanctions, export...more
UK Government introduces new sanctions measures and extends the reporting obligations to Cryptoasset exchange and custodian wallet providers. The UK Government has implemented new restrictions in relation to investments in...more
From 15 June 2022 the Economic Crime (Transparency and Enforcement) Act 2022 will introduce changes to the enforcement of UK sanctions laws that parallel enforcement powers held by the Office of Foreign Assets Control...more
The Russia (Sanctions) (EU Exit) (Amendment) (No. 9) Regulations 2022 came into force on 29 April 2022 and amend the Russia (Sanctions) (EU Exit) Regulations 2019 (S.I. 2019/855) (‘the 2019 Regulations’) by introducing new...more
As a further response to Russia’s invasion of Ukraine, the Economic Crime (Transparency and Enforcement) Act (the “Act”) has been fast-tracked into law and received royal assent in the early hours of 15 March 2022. The Act,...more
This week has seen the constant expansion of the UK sanctions regime to a wider set of Russian targets as crisis in Ukraine continues. The newly-announced financial sanctions and economic restrictions cover a wide range of...more
UK Prime Minister Boris Johnson announces the “largest and most severe package of economic sanctions that Russia has ever seen” before Parliament and OFSI designates additional Russian entities and individuals as asset freeze...more
Today the UK government has adopted the “first barrage of UK economic sanctions against Russia” as UK Prime Minister Boris Johnson warned that Russian President Vladimir Putin is “bent on a full scale invasion of Ukraine”. UK...more
2/23/2022
/ Economic Sanctions ,
EU ,
Executive Orders ,
Exports ,
Financial Institutions ,
Office of Financial Sanctions Implementation (OFSI) ,
Office of Foreign Assets Control (OFAC) ,
Russia ,
SDN List ,
UK ,
Ukraine
The UK Government has strengthened its Russian sanctions legislation by extending its sanctions designation criteria to target Russian businesses and individuals in a wide range of economic and strategically significant...more
The Court of Justice of the EU has interpreted for the first time the Blocking Regulation. The ruling confirms that it is possible to terminate contracts with a US designated person without providing reasons. However, in...more
The EU has expanded the listing criteria for specific designations under the Belarus sanctions regime that targets those that facilitate illegal crossing of the EU’s external borders. In addition, the EU has adopted an...more
On 1 November 2021, the Office of Financial Sanctions Implementation (OFSI) published an updated charity sector guidance regarding the UK’s humanitarian activity following Afghanistan’s Taliban takeover. The notice follows...more
The European Union and the United Kingdom have each significantly expanded the scope of their sanctions against Belarus in response to the forced Ryanair aircraft landing in May. The new measures adopted target a significant...more
8/17/2021
/ Belarus ,
Belarus Sanctions ,
Dual Use Goods ,
Economic Sanctions ,
EU ,
European Investment Bank (EIB) ,
Export Controls ,
Exports ,
Military Goods ,
Popular ,
UK