Effective February 5, 2023, the Price Cap Coalition (the Coalition), consisting of the G7 nations, the European Union (EU) and Australia, set a price cap of $45 per barrel for “Discount to Crude” petroleum products of Russian...more
2/10/2023
/ Australia ,
Biden Administration ,
Crude Oil ,
Economic Sanctions ,
EU ,
Exports ,
G7 ,
General Licenses ,
New Guidance ,
Oil & Gas ,
Oil Prices ,
Russia ,
Ukraine
A ban on services related to the maritime transport of Russian-origin crude oil sold above a pre-determined price cap of $60 per barrel began on December 5, 2022, with a similar price cap ban related to other Russian-origin...more
12/7/2022
/ Australia ,
Commodities ,
Economic Sanctions ,
EU ,
Exports ,
G7 ,
Global Market ,
Office of Financial Sanctions Implementation (OFSI) ,
Office of Foreign Assets Control (OFAC) ,
Oil & Gas ,
Oil Prices ,
Russia ,
Ukraine
We wanted to share an update on Russia sanctions developments in the United States, United Kingdom, and European Union that occurred between March 24 and April 8, 2022. Following new reports of atrocities committed by the...more
We wanted to share an update on Russia sanctions developments in the United Kingdom, European Union, and the United States that occurred between March 16 and 24. As summarized below, key global jurisdictions have continued to...more
The United States, the European Union (EU), the United Kingdom (UK), and other allies and partners are implementing wide-ranging, novel sanctions and sweeping export controls against Russia in response to its invasion of...more
2/28/2022
/ Biden Administration ,
Blocked Entities ,
Blocked Person ,
Economic Sanctions ,
Embargo ,
EU ,
Financial Institutions ,
Office of Foreign Assets Control (OFAC) ,
Russia ,
SDN List ,
UK ,
Ukraine
On 6 February 2020, Mark Steward, Executive Director of Enforcement and Market Oversight at the Financial Conduct Authority (“FCA”), spoke at the 19th Annual Institute on Securities Regulation in Europe. His speech,...more
3/12/2020
/ Commodities ,
Derivatives ,
Enforcement ,
Enforcement Actions ,
EU ,
EU Market Abuse Regulation (EU MAR) ,
Financial Markets Authority (FMA) ,
Market Abuse ,
Market Manipulation ,
MiFID II ,
Securities ,
UK
On 3 July 2016 the EU Market Abuse Regulations (“MAR”) will come into force, replacing the previous civil market abuse regime as set out in the Market Abuse Directive (“MAD”). Given its extra-territorial effect, the changes...more