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Supply Chain Compliance – New French Law on Corporate Duty of Vigilance Law Adopted

On 21 February 2017, the French National Assembly adopted a Corporate Duty of Vigilance Law, which creates a novel corporate supply chain liability, defining a duty of vigilance for parent companies and their subcontractors. The law provides that multinational firms carrying out all or part of their activity on French territory will need to adopt … Continue Reading

Trade Talk – Week in Review (31 May – 3 June)

North Korea – Money Laundering Designation.   Last week, the U.S. Department of the Treasury designated North Korea as a jurisdiction of “primary money-laundering concern” under Section 311 of the USA Patriot Act on Wednesday.  This will allows Washington to further limit North Korea’s access to the U.S. financial system.  Under the new designation, non-U.S. banks … Continue Reading

EU Powers Sent Letter to UNSC over Iranian Missile Launches

The UK, along with France, Germany and the US have criticised Iran for its recent missiles tests. In a joint letter to Spain’s UN ambassador and UN chief Ban Ki-moon, the group of countries accused Iran of defying a UN Security Council resolution by launching nuclear-capable missiles. The tests have reignited discussions over EU and US sanctions. The situation … Continue Reading

US and EU Implement Iran Sanctions Obligations Under the JCPOA

Saturday, 16 January 2016, marked Implementation Day of the Joint Comprehensive Plan of Action (JCPOA) between the E3/EU+3 (China, France, Germany, the Russian Federation, UK and US, in conjunction with the High Representative of the European Union for Foreign Affairs and Security Policy) and the Islamic Republic of Iran (Iran). On Implementation Day, the International … Continue Reading

France Issues Guidance on Iran Sanctions

In order to assist organisations operating within the EU sanctions regime concerning Iran, the French Ministère des Finances issued guidance that includes a comprehensive table detailing that the Iran sanctions will gradually phase out from the Implementation Date. The ministry notes however that existing sanctions remain unchanged until then.… Continue Reading

Iran Agreement

On Tuesday, 14 July 2015, the E3/EU+3 (China, France, Germany, the Russian Federation, the United Kingdom and the United States, with the High Representative of the European Union for Foreign Affairs and Security Policy) and the Islamic Republic of Iran agreed to a Joint Comprehensive Plan of Action (JCPOA). Under the JCPOA, Iran agreed to … Continue Reading
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