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Sanctions Update: US, UK, and EU Impose Sweeping New Sanctions Relating to Russia, Ukraine, and Belarus

New rules significantly expand the scope of existing Ukraine- and Russia-related sanctions and impose stringent export controls on Russia. This Client Alert is published in the context of fast-moving developments....more

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

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

New UK Sanctions and Export Controls Rules – Top 10 Takeaways

The new rules are set to go in effect when the UK leaves the European Union on 31 December at 11 p.m. GMT. The United Kingdom’s transition period for withdrawing from the European Union is scheduled to end on 31 December...more

UK Adopts Sanctions to Target Belarus Government Officials

The UK imposes travel bans and financial sanctions on eight Belarusian officials - including Belarus’ President. On 29 September 2020, the United Kingdom imposed sanctions on eight Belarusian officials it considers to have...more

UK Supreme Court Narrows Scope of “Reflective Loss” Principle

The decision overturns a series of cases deemed to have over-expanded a principle preventing shareholders from claiming against third parties for falls in a company’s value. On 15 July 2020, the UK Supreme Court...more

UK Introduces Sanctions Regime Targeting Global Human Rights Offenders

The regulations will enable the UK government to sanction persons “involved” in human rights abuses — potentially anywhere in the world. On 6 July 2020, the UK Foreign Secretary announced the introduction of the Global...more

Court of Appeal Excuses Non-Payment Arising From Secondary Sanctions Concerns

The Court of Appeal decision, which considered standard form wording and the “mandatory” nature of US sanctions laws, upholds a High Court ruling exempting a borrower’s non-payment of interest, albeit on different...more

UK Sanctions Authority Issues Record Penalty for Russia-Related Sanctions Violations

The penalty reflects the increasingly active approach in the UK to the enforcement of sanctions breaches. The UK’s financial sanctions regulator, HM Treasury’s Office of Financial Sanctions Implementation (OFSI), has...more

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