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Financial Institutions Ukraine Financial Services Industry

King & Spalding

Recent OFAC and DOJ Activity Signals Potential New Era of Control-Based Sanctions Enforcement

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U.S. sanctions enforcement is evolving to adopt a “control” analysis similar to the analysis employed by the European Union and United Kingdom based on a recent major enforcement action by the U.S. Department of the...more

The Volkov Law Group

State Street’s $7.45MM OFAC Penalty Highlights Importance of Sanctions in M&A Due Diligence

The Volkov Law Group on

The U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) has released a $7.45 million penalty against State Street Bank and Trust Company and its non-bank, fintech subsidiary Charles River Systems for...more

BakerHostetler

Current State of U.S. Economic Sanctions Imposed on the Russian Federation and Covered Regions of Ukraine in Response to the...

BakerHostetler on

In response to Russia’s invasion of Ukraine, the U.S. government has deployed a whole-of-government approach to impose sanctions and tighter export controls on Russia. This alert summarizes key economic sanctions imposed by...more

Orrick, Herrington & Sutcliffe LLP

Treasury official warns Turkish companies on engaging with Russian entities

On February 3, Under Secretary of the Treasury for Terrorism and Financial Intelligence, Brian E. Nelson, met with the Banks Association of Turkey to discuss international sanctions actions against Russia for its war against...more

A&O Shearman

Implications for Credit Agreements After the Russian Invasion of Ukraine

A&O Shearman on

Following the recent Russian invasion of Ukraine, many countries, including the United States, the United Kingdom and member states of the European Union, have imposed a coordinated series of sanctions unprecedented in scope...more

Morgan Lewis

Update: Russia Further Tightens Currency Control Regulations and Directs Banks to Scrutinize Payments Made Abroad

Morgan Lewis on

As another measure to support Russia’s financial market, Presidential Decree No. 126 imposes further limitations on cross-border monetary transfers for both Russian and non-Russian residents. However, Decree No. 126 also...more

Cadwalader, Wickersham & Taft LLP

Statement from UK Financial Regulatory Authorities on Sanctions and the Cryptoasset Sector

On March 11, 2022, the UK Financial Conduct Authority (“FCA”), the Office of Financial Sanctions Implementation (part of HM Treasury) and the Bank of England published a joint statement (the “Statement”) on sanctions and the...more

Morgan Lewis

Ukraine-Related Sanctions: Contract Disputes Under Business Agreements Governed by US Law

Morgan Lewis on

The conflict in Ukraine has resulted in the disruption of innumerable commercial agreements between and among financial, manufacturing, and other entities. The sanctions imposed by nations and international bodies on various...more

Spilman Thomas & Battle, PLLC

All Consuming - Financial Litigation Insights, Volume 3, Issue 3

Student Loans: Stressors and Pitfalls as Repayments Begin and CFPB Actions Against Alleged Fraudulent Conduct - On March 13, 2020, near the beginning of the pandemic in the U.S., the CARES Act included a pause for all...more

Allen Matkins

Department Of Financial Protection & Innovation Issues Guidance Regarding "Situation in Ukraine and Russia"

Allen Matkins on

Last Friday, Commissioner Clothilde V. Hewlett issued guidance concerning the "situation in Ukraine and Russia".   The guidance reminds licensees of their obligations under federal, and to a lesser extent, California law. ...more

Sullivan & Worcester

Ukraine in Crisis: What Do the UK Sanctions Against Russia and Russian Entities Mean for Your Business? – A Practical Guide

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Where are we today? With sanctions being imposed by the international community on an almost daily basis on Russia (and certain Russian banks and nationals) since its threatened destabilisation and subsequent invasion of...more

Robins Kaplan LLP

Shell and BP Cut Ties With Russia As West’s Sanctions Intensify

Robins Kaplan LLP on

After a weekend in which the West’s major economies made it clear that they’re choosing economic isolation as the desired means of punishing Vladimir Putin and Russia for their invasion of Ukraine, Shell and BP have both...more

Nelson Mullins Riley & Scarborough LLP

Banks and FinTechs Beware: Here Come the Sanctions - What We Can Learn from Previous OFAC Actions Involving FinTech Companies

With Russia’s invasion of Ukraine last week, we saw a swift response by the U.S. beginning with President Biden’s Executive Order 14024 (“The EO”) and followed quickly by the Office of Foreign Assets Control’s (“OFAC”) severe...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

Foley Hoag LLP

Review of Sanctions and Export Controls Imposed in Response to Russia’s Invasion of Ukraine

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As we had reported in our earlier client alert and 2022 Year in Preview, Russia’s invasion of Ukraine has resulted in a new wave of sanctions and export controls on Russia, including sanctions on key sectors of the Russian...more

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