Helen Phizackerley

K&L Gates LLP

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Latest Posts › Economic Sanctions

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New Office of Financial Sanctions Implementation Financial Services Threat Assessment

On 13 February 2025, the Office of Financial Sanctions Implementation (OFSI) published its assessment of suspected sanctions breaches involving financial services firms since February 2022 (the Assessment). The Assessment...more

3/27/2025 / Cryptocurrency , Economic Sanctions , Financial Services Industry , Jurisdiction , Office of Financial Sanctions Implementation (OFSI) , Regulatory Requirements , Risk Management , Russia , UK

EU Sanctions—Article 8a “Best Efforts” Explained

On 24 June 2024, the European Union (EU) implemented its 14th package of sanctions against Russia to combat its continued aggression against Ukraine. A notable addition was made to Article 8a of Council Regulation (EU) No...more

2/6/2025 / Belarus , Economic Sanctions , Enforcement Actions , EU , European Commission , Foreign Policy , National Security , Russia , Sanctions

Article 8a "Best Efforts" Explained

On 24 June 2024, the European Union (EU) implemented its 14th package of sanctions against Russia to combat its continued aggression against Ukraine. The package introduced new anti-circumvention measures to strengthen...more

1/14/2025 / Belarus , Compliance , Economic Sanctions , Enforcement Actions , EU , European Commission , Foreign Policy , Regulatory Requirements , Risk Management , Russia

Top Tips for Sanctions Compliance and Preventing Sanctions Evasion

On 24 September 2024, the G7 released updated guidance on the prevention of evasion of export controls and sanctions imposed on Russia. The aim of the guidance is to “assist industry in identifying Russian evasion practices...more

10/24/2024 / Distributors , Due Diligence , Economic Sanctions , Evasion , Export Controls , Exports , Risk Mitigation , Russia , UK

UK Office of Trade Sanctions Implementation New Enforcement Powers and Increased Reporting Obligations

On 12 September 2024, the UK government released the new Trade, Aircraft and Shipping Sanctions (Civil Enforcement) Regulations 2024 (the Regulations), which will come into force on 10 October 2024. The Regulations grant the...more

10/15/2024 / Civil Monetary Penalty , Economic Sanctions , Enforcement Actions , Foreign Policy , Regulatory Oversight , Reporting Requirements , Trade Relations , UK

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