News & Analysis as of

Economic Sanctions United Kingdom Banks

Latham & Watkins LLP

Sanctions Update EU and UK Tighten Restrictions on Russian Oil and Provision of Software to Russia

Latham & Watkins LLP on

During 18-19 July 2025, the EU unveiled its 18th “package” of sanctions launched against Russia since Russia’s invasion of Ukraine in February 2022. Among these measures, the EU seeks to close an apparent loophole by which...more

A&O Shearman

Where there's no waiver, there's no way

A&O Shearman on

The English High Court has provided further guidance on the interpretation of “no waiver” clauses in a recent decision. The backdrop to this decision was a sanctions related dispute about the termination of a currency swap...more

BCLP

Our Top 5 Banking Litigation Cases From 2024 - Looking Back to Look Forward

BCLP on

2024 was a busy year for the Courts in England and Wales when it came to banking and wider financial services disputes. We were spoilt for choice when selecting our top 5 cases and, inevitably, have left out some significant...more

WilmerHale

Court Judgment Regarding Scope of the Ownership and Control Test Under the UK Sanctions Regime

WilmerHale on

On Friday, 6 October 2023 the Court of Appeal handed down judgment in the case of Mints v PJSC National Bank Trust & Anr [2023] EWCA Civ 1132. This judgment is significant and is a key, albeit non-binding, indicator of the UK...more

White & Case LLP

Overview of Switzerland’s 10th sanctions package in relation to Russia

White & Case LLP on

On 29 March and 20 April 2023, Switzerland adopted new measures against Russia, following those recently adopted by the EU as part of a tenth sanction package. More industrial, high-tech and aviation goods are now banned for...more

BCLP

Banking Bites - August 2022

BCLP on

Welcome to Banking Bites! This is our short summary flagging key developments in the UK that we hope will inform your activities in your market....more

BCLP

Banking Bites - June 2022

BCLP on

New High Court case considers nature and scope of the Quincecare duty - In June, the Court of Appeal expanded the scope of a bank’s duty of care to protect its customers from fraud to encompass instructions by those other...more

Perkins Coie

War in Ukraine Prompts Further Trade Sanctions by the United States

Perkins Coie on

Russia’s invasion into Ukraine in February 2022 has prompted the United States and its allies, including the United Kingdom, the European Union, and others, to issue substantial international trade restrictions such as...more

A&O Shearman

Mistaken breach of UK Financial Sanctions: possible exposure and what to do

A&O Shearman on

The UK sanctions imposed as a result of Russia’s invasion of Ukraine have undoubtedly put intense pressure on businesses to review existing commercial arrangements and tighten sanctions compliance systems and controls. But...more

White & Case LLP

New EU sanctions with asset freezes, tightened capital market sanctions and broad trade restrictions; UK asset freezes and details...

White & Case LLP on

On 28 February 2022, the European Union ("EU") adopted its third package of sanctions against Russia, imposing asset freezes on various Russian businesspersons active in the oil, banking and finance sectors, while closing off...more

McDermott Will & Schulte

European Union Imposes Additional Sanctions on Russia and Belarus

On 24 and 25 February 2022, the European Union (EU) imposed additional extensive sanctions on Russia—and new ones on Belarus—in response to the Russian invasion of Ukraine. In this On the Subject, our trade and sanctions team...more

A&O Shearman

Payment services provider fined for breach of Russian financial sanctions

A&O Shearman on

A global payment services provider has been fined by the UK Office of Financial Sanctions Implementation (OFSI) for breaching pre-existing UK sanctions against certain Russian entities and individuals previously involved in...more

Kelley Drye & Warren LLP

United Kingdom Imposes First Tranche of Sanctions on Russian Banks and High Net-Worth Individuals

Today, the United Kingdom imposed sanctions on five Russian banks and three Russian oligarchs in response to the situation in eastern Ukraine. The sanctions were imposed pursuant to recently strengthened sanctions authority...more

Foley Hoag LLP

Possible International Trade Consequences of Further Escalation of Conflict in Ukraine

Foley Hoag LLP on

For months, the Biden administration and the governments of U.S. allies around the world have raised concerns about Russian actions in the region. In the same breath, those governments have warned of massive, coordinated...more

Akin Gump Strauss Hauer & Feld LLP

Red Notice Newsletter - Russian

ANTICORRUPTION DEVELOPMENTS – Canadian Mining Company Settles with SEC over FCPA Charges – On March 26, Kinross Gold Corporation settled with the Securities and Exchange Commission (SEC) over its alleged failure to...more

Akin Gump Strauss Hauer & Feld LLP

Red Notice Newsletter - Chinese

ANTICORRUPTION DEVELOPMENTS – Canadian Mining Company Settles with SEC over FCPA Charges – On March 26, Kinross Gold Corporation settled with the Securities and Exchange Commission (SEC) over its alleged failure to...more

Akin Gump Strauss Hauer & Feld LLP

Red Notice Newsletter - March 2018

ANTICORRUPTION DEVELOPMENTS – Canadian Mining Company Settles with SEC over FCPA Charges – On March 26, Kinross Gold Corporation settled with the Securities and Exchange Commission (SEC) over its alleged failure to...more

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