European Regulation

New sanctions reporting requirements for non-financial sector businesses

With effect from 8 August, the Government has introduced significant new reporting requirements in relation to EU asset freeze regimes. Previously, only businesses in the financial sector were subject to the obligations, found in UK financial sanctions instruments, to report … Continue reading

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EU prolongs Russian sectoral sanctions until July 2016

On 21 December, the Council of the EU announced that the EU's economic sanctions against Russia would be extended until 31 July 2016.   These measures were originally introduced for a one year period in July 2014 and were extended until … Continue reading

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EU introduces new asset freezing measures against Yemen

On 19 December, the EU published Council Decision 2014/932/CFSP and Regulation 1352/2014 in relation to the situation in Yemen. The measures came into force immediately upon publication. The new measures impose an asset freeze on three individuals: Abdullah Yahya Al … Continue reading

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EU sanctions update: Russia

Our latest briefing summarises recent developments in the EU’s sanctions imposed against Russia.  In particular, we provide an overview of (a) new measures relating to Crimea and Sevastopol and (b) new European Commission guidance on certain of the financial sector … Continue reading

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Iran sanctions: Implementation of the Geneva Agreement

In November 2013, the P5+1 reached agreement on a Joint Plan of Action (JPoA) to suspend certain sanctions in exchange for Iran rolling back aspects of its nuclear programme.  On Monday 20 January 2014, the JPoA came into effect.  The … Continue reading

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Recent Sanctions Developments: EU relaxes certain Syrian sanctions and amends measures relating to North Korea, Iran and Tunisia; US relaxes Myanmar sanctions

The EU has recently published a new Regulation (Regulation 697/2013 of 22 July 2013 (“Regulation 697/2013”)) which amends Regulation 36/2012, the key piece of legislation setting out the EU’s sanctions against Syria.  In this briefing we analyse the new provisions … Continue reading

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New EU Directive: Reporting by Extractive Companies on Government Payments

The European Parliament and Council of Ministers have agreed the final form of the new EU rules for the disclosure, on a project by project basis, of payments to governments by companies operating in the extractive  industries. The EU’s agreement … Continue reading

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Zimbabwe: a further relaxation of the EU financial sanctions regime

In our earlier post we commented on the EU’s first step towards easing its sanctions regime in relation to Zimbabwe: with effect from 21 February 2013, twenty one individuals and one entity were removed from the EU’s list of designated persons, … Continue reading

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Iran sanctions update: New EU measures in force

On 22 December 2012, three new EU measures in relation to Iran were published in the EU Official Journal.  These expand the existing suite of EU sanctions, and are likely to be relevant to any EU companies, or persons within … Continue reading

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Regulating bidding in emissions allowances auctions: FSA proposals on authorisation, standards and market abuse

Auctions of EU Emissions Allowances may begin as early as July 2012 on the central common European auction platform.  The regulatory framework for the auctioning of aviation and phase III emissions allowances is set out in the Commission Regulation (EU) No … Continue reading

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