Russian arbitration: are international sanctions impacting party choice?

Ever since the introduction and then expansion of international sanctions on Russia (in particular by the US and the EU), arbitration practitioners have questioned whether this will prompt a change in the party selection of international arbitration in Russia-related commercial agreements.  Specifically, whether historically popular arbitral venues outside Russia (London, Stockholm and others in Europe) … Read more

EU publishes legislation imposing sectoral sanctions on Russia

Herbert Smith Freehills has published the latest edition of its Sanctions Update e-bulletin on new EU regulations, published on 30 and 31 July 2014, that expand sanctions against Russia in response to the situation in Ukraine. These regulations enact the measures announced by the EU on 29 July 2014. This briefing provides a summary of … Read more

US issues new Ukraine-related sanctions and additional guidance

Herbert Smith Freehills has published the latest issue of its Corporate Crime e-bulletin. This edition covers the new sanctions designations issued by the US Office of Foreign Assets Control (OFAC) in response to the situation in Ukraine, as well as OFAC’s additional guidance regarding the scope of US Ukraine related sanctions. For further information, please contact Scott … Read more

Sanctions Update: EU extends sanctions against Russia

Herbert Smith Freehills has published the latest edition of its Sanctions Update e-bulletin. This edition covers the new sanctions regime agreed by the EU against Russia, including: the introduction of “phase 3” sanctions affecting key sectors of the Russian economy such as the banking and energy industries; trade restrictions relating to Crimea and Sevastopol; and expansions … Read more

Interim relief from Iran sanctions extended to November 2014

Herbert Smith Freehills has published its Sanctions Update e-bulletin on recent developments in the sanctions regime against Iran. On 21 July 2014, it was announced that the six month suspension of EU and US sanctions against Iran as part of the Geneva Joint Plan of Action agreed in January 2014 would be extended until 24 … Read more

Sanctions Update: EU and US introduce further sanctions in response to the situation in Ukraine; EU amends sanctions against Libya, Central African Republic and Syria

Herbert Smith Freehills has published its latest Sanctions Update e-bulletin, on the latest developments in sanctions regimes in Ukraine, Libya, Central African Republic and Syria. Both the EU and US have introduced limited additional sanctions in light of the current situation in Ukraine, and Australia has announced its list of Ukraine-related designated persons.  The EU has … Read more

Ukraine – EU imposes asset freeze and travel ban on 21 Russian individuals; US introduces additional Executive Order and imposes asset freeze and visa ban on 11 Ukrainian and Russian individuals

Herbert Smith Freehills has published its latest Sanctions Update e-bulletin, on the imposition targeted sanctions by the EU and US in response to the recent Crimea referendum. On 17 March 2014, the EU introduced an asset freeze and travel ban applying to 21 Russian individuals. On the same day, the US introduced a second Executive … Read more

Ukraine – EU imposes asset freeze on members of former government and issues a statement in relation to Russia; US introduces Executive Order permitting the blocking of assets

Herbert Smith Freehills has issued its latest Sanctions Update e-bulletin, concerning the EU and US response to recent events in Ukraine. On 5 March 2014, the EU introduced an asset freeze applying to former President Yanukovych and other former government officials and persons associated with the former government. The UK has introduced domestic legislation criminalising breaches of … Read more

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 our August Sanctions Update we analyse the new provisions and provide an update on other recent changes to EU and US sanctions. … Read more