News & Analysis as of

Economic Sanctions Jurisdiction

The Volkov Law Group

OFAC Imposes $608,825 Penalty on Key Holding, LLC for Apparent Violations of Cuban Sanctions Regulations

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On July 2, 2025, the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) announced that it had entered into a settlement agreement with Key Holding, LLC (“Key Holding”), a privately held logistics and...more

Morrison & Foerster LLP

Enforcement of China’s Anti-Foreign Sanctions Law Strengthens Through Private Cause of Action and New Implementing Rules

In November 2024, in the first successful private cause of action under the Anti-Foreign Sanctions Law (AFSL), a Chinese court adjudicated a civil claim by a Chinese company against its overseas customer for failure to pay...more

White & Case LLP

Experiences, Preferences And Enforcement

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An overwhelming majority (87%) of respondents continue to choose international arbitration to resolve cross-border disputes, either as a standalone mechanism (39%) or with Alternative Dispute Resolution (ADR) (48%). There has...more

K&L Gates LLP

New Office of Financial Sanctions Implementation Financial Services Threat Assessment

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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

Mayer Brown

Cross-Jurisdictional Clashes In the RCA v. Linde Dispute: Latest Developments

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AT A GLANCE - It is important for foreign investors with assets and operations in Russia to know the options available to them and how different options may impact their investment protection and chances of bringing...more

Jenner & Block

The Unintended Consequence of Russian Sanctions

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The wave of Russian sanctions imposed since the invasion of Ukraine has led to counter measures by the Russian state which are now having significant practical consequences for parties caught up in disputes with Russian...more

Seward & Kissel LLP

Changes Are Coming

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Elections, as they say, have consequences. That bit of political wisdom certainly will be true again this time around—our president-elect has been announcing appointees for cabinet positions that are bound to bring about...more

Pillsbury Winthrop Shaw Pittman LLP

Trump 2.0 Administration: Anticipated Impacts on International Trade, Sanctions and Economic Policy

Broad Tariff Increases Could Reshape Global Trade: The aggressive use of tariffs could create significant trade disruptions for businesses dependent on global supply chains, and pair novel use of authorities with existing...more

Baker Botts L.L.P.

UK Supreme Court Confirms Power to Issue Anti-Suit Injunction in Support of Foreign-Seated Arbitrations and Clarifies Enka Test...

Baker Botts L.L.P. on

In its recent judgment in UniCredit Bank GmbH v RusChemAlliance LLC [2024] UKSC 30, arising out of a dispute between a Russian energy developer and a German bank concerning the effect of EU sanctions on Russia, the UK Supreme...more

Mayer Brown

Russia: Investment Protection and Arbitration | Part 4

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PART 4: JURISDICTIONAL BATTLEGROUND IN DISPUTES WITH SANCTIONED RUSSIAN PERSONS  - In a wave of recent decisions, including in proceedings involving a number of Western banks, the Russian courts have disapplied the...more

White & Case LLP

EU establishes harmonized enforcement and penalties for sanctions violations

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The EU has adopted a new directive which establishes EU-wide rules for defining criminal offences and penalties related to the violation of EU sanctions. A stricter regulatory environment and closer scrutiny is expected as...more

Walkers

Update on the Removal of the Cayman Islands from the FATF's List of Jurisdictions Under Increased Monitoring - Update

Walkers on

Following the conclusion of the most recent plenary of the Financial Action Task Force ("FATF") on 27 October 2023, the FATF has announced that the Cayman Islands has been removed from the FATF's list of "jurisdictions under...more

K&L Gates LLP

Arbitration World - June 2023

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Welcome to the 39th Edition of Arbitration World, a publication from K&L Gates’ International Arbitration practice group highlighting significant developments and issues in arbitration for executives and in-house counsel ...more

Bracewell LLP

The 2023 AIEN Model Form JOA Placing ESG issues at the heart of oil and gas operations

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On 16 February 2023, the Association of International Energy Negotiators (“AIEN”, formerly the Association of International Petroleum Negotiators or AIPN) published an updated version of its model form joint operating...more

Skadden, Arps, Slate, Meagher & Flom LLP

Disparate US, EU and UK Sanctions Rules Complicate Multinationals' Exits From Russia

The withdrawal of Western companies from Russia in the wake of the war in Ukraine has garnered a lot of attention. But the process does not take place overnight, and many foreign companies that have operated in Russia face...more

White & Case LLP

"Taking the Keys": Six things to consider for credit investors contemplating share pledge enforcement

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Rises in energy costs, disruption to global supply chains, the situation in Ukraine, soaring inflation and higher interest rates are pushing several major European economies towards recession. Borrowers and issuers in the...more

Pillsbury - Policyholder Pulse blog

Weathering Economic Turbulence: Assignment of Insurance Claims for Losses Under Russian Sanctions

The Russia/Ukraine conflict has led to a monumental decoupling of Russia from the global economy, with dire consequences for many industries—including the aircraft leasing industry. Western governments’ still-evolving...more

Venable LLP

Treasury Doubles Up Enforcement Efforts Against Noncompliant Crypto Platforms

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​​​​​​​The U.S. Treasury Department’s Financial Crimes Enforcement Network (FinCEN) and Office of Foreign Assets Control (OFAC) announced yesterday that they had reached settlements for over $24 million and $29 million,...more

Morrison & Foerster LLP

U.S. Supreme Court to Decide the Scope of Federal Courts’ Criminal Jurisdiction over Foreign Sovereign Defendants

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On October 3, 2022, the United States Supreme Court granted certiorari in Turkiye Halk Bankasi A.S. v. United States, No. 21-1450 (“Halkbank”), to determine whether federal courts have subject-matter jurisdiction over...more

Seward & Kissel LLP

Importance of Timely Sanctions Screening and Due Diligence

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The United States sanctions regime is a complex and ever-changing regulatory space. The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) maintains sanctions lists which are updated in real-time—not on...more

Shutts & Bowen LLP

Russian law says “no” to foreign arbitration proceedings against sanctioned Russian individuals and companies

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On June 8, 2020, Russia enacted Federal Law No. 171-FZ1 (the “Law on Protection from Sanctions”). Under this new statute, a person or entity that is the subject of Russian sanctions can apply to a Russian court for an...more

K&L Gates LLP

Key Takeaways and Q&As to Understand China's Effort to Establish Its Own Legal Regime of Extraterritorial Jurisdiction

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On 10 June 2021, the Standing Committee of the National People’s Congress reviewed and approved the Anti-Foreign Sanctions Law (the AFSL), which took effect on the same day. The AFSL was enacted within two months and without...more

Akin Gump Strauss Hauer & Feld LLP

Reminder Regarding the Jurisdictional Reach and Limits of U.S. Export Control, Sanctions, and Foreign Investment Regulations

United States export control, sanctions, and foreign investment (CFIUS) regulations advance U.S. national security and foreign policy interests, but in very different ways. They are also quite complex. As a result, media...more

Lowenstein Sandler LLP

Internet Businesses Are Targeted By OFAC For Sanctions Violations: How To Reduce Risk

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Internet businesses are easily able to reach customers around the world. That worldwide reach, however, only increases a company’s risk of violating U.S. economic sanctions that the company might have not even realized...more

Society of Corporate Compliance and Ethics...

Sanctions news: US sanctions International Criminal Court; European Union mulls Russia sanctions

Report on Supply Chain Compliance 3, no. 13 (June 25, 2020) - Unites States President Donald Trump issued an executive order on June 11, imposing sanctions on members of the International Criminal Court (ICC). The...more

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