The New Cold War: Risk, Sanctions, Compliance Episode 25: “Can the U.S. Seize the Russian Central Bank’s Assets?”
Connecticut Collections: How to get paid if you are owed money? Part 2: Prejudgment Remedy ("PJR")
D&O in Brazil and Latin America
The European Union (EU) has reaffirmed its sanctions policy toward Russia by implementing two rounds of restrictive measures that are intended to further intensify pressure on Russia’s government and economy. Specifically,...more
Background - The war in Ukraine has taken a new diplomatic turn in recent weeks. Having historically aligned with the European Union (EU) and United Kingdom (UK) on its condemnation of Russia’s war in Ukraine, and the need...more
In this weekly update, we summarise the most notable updates in the UK sanctions world...more
I. US SANCTIONS - U.S. Department of the Treasury Designates Russian Construction Director and Issues Russia-Related General Licenses: On December 18, the U.S. Department of the Treasury’s Office of Foreign Assets Control...more
RUSSIA SANCTIONS - UK Government updates factsheet on UK support to Ukraine: On December 20, 2024, the UK Government updated its factsheet setting out the UK’s support to Ukraine....more
When Russia invaded Ukraine on 22 February 2022 most Bermudian residents did not think it would have much impact to the island. However as both an overseas territory of the United Kingdom and as an international finance...more
Since 2020, governments have lurched from pandemic-induced economic and health crises to new and protracted conflicts across the globe. In these times of upheaval and uncertainty, the use of sanctions has increased to an...more
After a relatively quiet period, UK sanctions updates have picked up pace in recent weeks. We have seen the announcement of an enhanced partnership between US and UK sanctions agencies, updates to reporting requirements, the...more
The Court of Appeal has clarified the requirements to be satisfied before obtaining a freezing injunction, affirming an attainable merits threshold is to be preferred over a more stringent alternative. Any perceived tilt in...more
On 18 November 2024, the UK Government imposed an asset freeze on the state-owned national airline of Iran, Iran Air, and the state-owned national shipping carrier of Iran, the Islamic Republic of Iran Shipping Lines (IRISL)....more
As the war continues to rage on the Eastern front between Russia and Ukraine, the financial sanctions resulting from the initial invasions and ongoing conflict seem likely to continue to play a significant part in the global...more
In this weekly update, we summarise the most notable updates in the UK sanctions world....more
Private equity firms could face significant sanctions risks when doing business with entities connected to sanctioned jurisdictions (such as Russia)...more
The Trade, Aircraft and Shipping Sanctions (Civil Enforcement) Regulations 2024 empower OTSI to enforce UK trade sanctions through civil monetary penalties, building on the role of OFSI, which has enforced UK financial...more
The Office of Financial Sanctions Implementation has published a financial sanctions notice reminding firms of their annual frozen assets reporting requirement. Every year HM Treasury carries out a review to update its...more
The UK’s National Crime Agency (NCA) recently secured its first forfeiture of sanctioned funds. This was a landmark achievement for the NCA’s Combatting Kleptocracy Cell, which has only existed since 2022 and aims to...more
Asset freeze measures enacted by the United Kingdom against designated persons (DPs) can, under certain circumstances, extend to entities “owned or controlled” by DPs. To date, there have been few—and at times partly...more
On June 24, 2024, the European Union adopted its 14th sanctions package (implemented by EU Regulations 2024/1745 and 2024/1739). While the focus of this package was to curb the violation and circumvention of sanctions through...more
The following alert provides an update on recent sanctions developments, including: The publication of the UK government’s first sanctions strategy. The announcement of over 50 new sanctions. Measures to strengthen the Oil...more
The European Union and the United Kingdom continue to tighten sanctions against Russia, particularly in the wake of the second anniversary of Russia’s invasion of Ukraine and the sudden death of Russian opposition leader...more
In this weekly update, we summarise the most notable updates in the UK sanctions world. ...more
New specific licensing grounds available under Cayman Islands and BVI Russia sanctions will pave the way for Cayman Islands and BVI investment funds and other entities to divest their frozen assets in Russia as well as remove...more
I. US SANCTIONS - US Department of the Treasury Sanctions Almost 300 Individuals and Entities: On February 23, the US Department of the Treasury’s Office of Foreign Assets Control (OFAC) sanctioned almost 300 individuals...more
In this weekly update, we summarise the most notable updates in the UK sanctions world. 1. Russia Sanctions - UK Government adds Russian-based cyber hacker under Cyber regime: On January 23, 2024, the UK Government,...more