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Italian Government Updates Golden Powers Rules on National Security and Investment Controls

The Italian Golden Powers Rules have intricate and unique features and broad-reaching effects, which set them apart from other foreign investment control regimes in the EU. For example, a notification requirement may apply to EU as well as national buyers in certain instances and may apply to Italian companies operating in sectors deemed of strategic … Continue Reading

US Actions on Russia and Russia-related Sanctions

The US has responded to the conflict in Ukraine with the following sanctions measures (listed by date, beginning with most recent). With relevant developments, we will update this post on a weekly basis. The latest developments occurred on April 1 and April 6. Additional jurisdictions we are tracking include: EU, Japan, Republic of Korea and … Continue Reading

BIS Amends Export Administration Regulations with Respect to Russia and Belarus

On Tuesday, April 12, 2022, the US Department of Commerce, Bureau of Industry and Security (BIS) published in the Federal Register a Final Rule amending the Export Administration Regulations (EAR) (15 CFR parts 730-774) to add four additional countries to the list of countries excluded from certain license requirements (Supp. No. 3 to part 746) … Continue Reading

Russia-related Sanctions and New US Export Controls – Implications for US Trade Contracts and Negotiations

Our Trade Practitioners recently provided an overview on Russia-related sanctions and newly imposed export controls by the US, and shared insights on how to manage US trade contracts and negotiations via two webinars. Please visit our Learning Center for the webinar recordings and presentation slides.… Continue Reading

The US Imposes New Export Controls on Russia and Regions of Ukraine; UK and EU Assessing Measures

On February 25, 2022, the Department of Commerce Bureau of Industry and Security (“BIS”) unveiled extensive new export control regulations on Russia and Russian-aligned regions of Ukraine as part of the Biden Administration’s economic sanctions package in response to the Russia-Ukraine conflict. This alert is the second installment of the Biden Administration’s response to the … Continue Reading

The United States, United Kingdom, and European Union Impose a Series of New Targeted and Territorial Russia-Related Sanctions

Additional U.S. Sanctions on Russian Financial Institutions, State-Owned and Private Entities, and Russian Individuals Deemed Close to Putin (February 24) On February 24, the United States responded to the Russian-Ukraine conflict by blocking certain Russian financial institutions and individuals, and imposing varying degrees of sanctions prohibitions on other listed Russian banks and entities, including their … Continue Reading

US Commerce and Treasury Departments Add to Lists of Sanctioned Entities Under Russia-/Ukraine-Related Programmes

In June 2017, the Office of Foreign Assets Control (OFAC) and the US Commerce Department’s Bureau of Industry and Security (BIS) imposed coordinated sanctions against two entities from the Crimea Region of Ukraine and eight entities from Russia. OFAC added each entity to the OFAC List of Specially Designated Nationals (SDN List) and Block Persons under the executive orders implemented … Continue Reading

EU Renews Its Sanctions Against Crimea and Sevastopol

On 19 June 2017, the Council extended its territorial sanctions against Crimea and Sevastopol until 23 June 2018. Under these sanctions, EU members are prohibited to import into the EU goods originating in Crimea or Sevastopol, with the exception of goods originating in Crimea or Sevastopol that have been granted a certificate of origin by the Government of Ukraine. In … Continue Reading

BIS Announces Arrest of Ukrainian National and a US$27 Million Settlement With Access USA Shipping, LLC

On 7 March, the Bureau of Industry and Security (BIS) announced the arrest of a Ukrainian national on charges related to the export of military technology to Ukraine. Separately, on 24 March, the BIS announced a US$27 million civil settlement with Access USA Shipping, LLC, a company based in Sarasota, Florida, for alleged export controls violations … Continue Reading

EU Extends Ukraine Misappropriation Sanctions

Following its annual review, the EU has renewed its asset freezes relating to individuals who are identified as being responsible for misappropriating Ukrainian state funds until 6 March 2018. These asset freezes were initially introduced in March 2014. Implementing Regulation 2017/374 implements Regulation 208/2014 and Decision 2017/381 amends Decision 2014/119/CFSP.… Continue Reading

EU Extends Asset Freezing Measures and Travel Bans on Individuals and Entities Responsible for Undermining the Territorial Integrity of Ukraine

The EU has extended its asset freezing measures and travel bans on entities and individuals who are involved in undermining or threatening Ukraine’s territorial integrity, sovereignty and independence for a further six months, until 15 September 2017. The EU’s listings on these measures include, to date, 150 people and 37 entities. Implementing Regulation 2017/437 implements … Continue Reading

European Court of Justice (ECJ) Clarifies Sanctions in Response to the Crisis in Ukraine Against Certain Russia Undertakings

In February 2015, the UK Divisional Court referred questions to the ECJ for a preliminary ruling in the course of Rosneft’s judicial review proceedings challenging UK legislation that gives effect to EU sanctions against Russia. The questions referred concerned the interpretation and validity of Council Decision 2014/512/CFSP and Council Regulation (EU) 833/2014. In response to … Continue Reading

Russia Renews Embargo on Food Imports

Russia has renewed its embargo on food imports from several of the countries that have imposed sanctions on Russia, until 31 December 2017. The countries include Member States of the EU, the US, Canada, Australia, Norway, Albania, Montenegro, Iceland, Liechtenstein and Ukraine. Russia first introduced the embargo in 2014 as a counter-measure to sanctions imposed by western governments in protest … Continue Reading

Trade Talk – Week in Review (9-13 May 2016)

Nordic Leaders Summit.  In a joint statement released after their meeting last Friday, the leaders of the United States, Denmark, Finland, Iceland, Norway, and Sweden pledged to deepen cooperation on international issues related to security and defense; migration and refugees; climate, energy and the Arctic; and economic growth and global development.  The Leaders stressed the … Continue Reading

EU Extends Restrictive Measures Adopted in Respect of “Actions Undermining or Threatening the Territorial Integrity, Sovereignty and Independence of Ukraine”

On 10 March 2016, the EU renewed economic sanctions against 146 Russian individuals and 37 entities selected for “undermining the territorial integrity or stability of Ukraine.” The measures, previously due to expire on 15 March 2016, will now remain in place for an additional six months until 15 September 2016. They were implemented by way of adoption of Implementing … Continue Reading

Ukraine

On 28 January 2016, The General Court of the EU ruled in favour of five Ukrainian nationals who brought proceeding before the Court with a view to annulling their inclusion on the list of persons identified as responsible for the misappropriation of Ukrainian State funds. The Court held that the five, including Mykola Yanovych Azarov … Continue Reading

Trade Talk – Week in Review (18-22 January 2016)

The Senate was in session last week, while the House of Representatives (“the House”) remained in recess in observance of the Martin Luther King holiday.  Implementation Day of the Joint Comprehensive Plan of Action (JCPOA) with Iran took effect, as did a prisoner swap last week.  Washington’s attention then quickly shifted to an impending historic … Continue Reading
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