Sanctions

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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Filed under EU, EU Law, European Regulation, News, Sanctions, UK

UK GOVERNMENT PUBLISHES RESPONSE ON THE LEGAL FRAMEWORK FOR SANCTIONS POST-BREXIT

On 2 August 2017, the UK Government published its response to the public consultation on the UK’s future legal framework for imposing and implementing sanctions after the UK’s exit from the European Union (see our previous blog post). The response … Continue reading

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Filed under Brexit, News, Sanctions

The UK Government announces consultation on sanctions post-Brexit

The two year process of the UK’s exit from the EU formally began on 29 March 2017 with notice being given under Article 50 of the Treaty on the European Union of the UK’s intention to leave the EU. One … Continue reading

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Filed under Brexit, EU, Sanctions, UK

Iran files case against the USA before the ICJ

In a press release published on 15 June 2016 (available here), the International Court of Justice ("ICJ") announced that Iran has instituted proceedings against the USA, in respect of alleged violations under the 1955 US-Iran Treaty of Amity, Economic Relations … Continue reading

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Filed under ICJ, Iran, Middle East, Sanctions, State to state claims, US

Herbert Smith Freehills publishes second edition of Iran Investment Guide

Herbert Smith Freehills is pleased to announce the publication of an updated version of its Iran Investment Guide. The guide describes the key legal aspects that foreign investors should consider when investing in Iran. It has been updated to take into … Continue reading

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Filed under Iran, News, Sanctions

“Implementation Day” (16 January 2016) marks a significant relaxation of EU and US sanctions against Iran

On 16 January 2016, or "Implementation Day", legislation in the United States ("US") and European Union ("EU") came into effect, relaxing significantly the sanctions in place against Iran. This followed the issuing of a report by the International Atomic Energy … Continue reading

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Filed under Iran, News, Sanctions

Iran sanctions – UK updates guidance on doing business with Iran as implementation day approaches

Since the announcement of the Joint Comprehensive Plan of Action ("JCPOA") in July 2015, companies have been preparing for the relaxation of sanctions that will allow them to re-enter Iran.  As Implementation Day (the point at which some sanctions will … Continue reading

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Filed under EU, Iran, News, Sanctions, UN, US

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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Filed under EU, Europe, European Regulation, Russia, Sanctions

ADOPTION DAY UNDER THE IRAN AGREEMENT – US AND EU PUBLISH DETAILS OF CHANGES TO THEIR SANCTIONS REGIMES

The Joint Comprehensive Plan of Action relating to Iran's nuclear programme (the "JCPOA") officially came into effect on 18 October ("Adoption Day"), requiring all JCPOA participants to make the necessary arrangements and preparations for implementation of their respective JCPOA commitments.  … Continue reading

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Russia-related sanctions: US Issues important advisory on ensuring compliance with Crimea sanctions regime and expands sanctions designations

The US Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) recently added a number of new persons and individuals to the US’s Specially Designated Nationals (“SDN”) and Sectoral Sanctions Initiative (“SSI”) lists. OFAC also issued new guidelines to … Continue reading

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Filed under EU, Russia, Sanctions, US