US expands sanctions against Iran

On August 10, 2012, the US implemented new sanctions against Iran through the enactment of the Iran Sanctions, Accountability and Human Rights Act of 2012 (the “Act“). The Act is designed to place new restrictions on the Iranian economy to compel Iran to abandon its efforts to achieve nuclear weapons capacity (and to apply sanctions … Read more

US eases sanctions against Myanmar

On 11 July 2012, the US relaxed its sanctions regime against Myanmar by, subject to certain restrictions, lifting the prohibition on the export of financial services to Myanmar and permitting US persons to undertake new investment in Myanmar. The changes will allow US financial institutions to process most transfers and other remittances into Myanmar. Further, US companies … Read more

Temporary suspension of sanctions against Burma/Myanmar

On 14 May 2012 the Council of the EU finally adopted the Regulation required to implement its Decision of 26 April 2012 to suspend, for one year, the bulk of the restrictive measures applied to Burma/Myanmar in various forms since 1996. These relaxations follow the Council’s initial temporary suspension of limited aspects of the EU … Read more

EU implementing Regulations for Iran oil embargo

On 23 January 2012, the European Council adopted Decision 2012/35/CFSP, setting out a range of new sanctions on Iran, including an oil embargo. Many elements of the extended sanctions required implementing legislation to be brought into force.  That legislation was introduced over the weekend, in the shape of Regulation 267/2012 (the “2012 Regulation”) which consolidates … Read more

Commercial disputes after the Arab Spring

Craig Tevendale (Partner, London) and Stuart Paterson (Partner, Dubai) have published an article in the March 2012 issue of Commercial Dispute Resolution (CDR).  It focuses on the Arab Spring and examines the major commercial disputes issues arising from the political upheaval in North Africa and the Middle East, namely: the application of force majeure provisions and the … Read more

Financial and trade sanctions against Iran strengthened

Three measures against Iran adopted on 23 January 2012 by the EU’s Foreign Affairs Council add yet another layer to the extensive Iranian sanctions regime, which will need to be carefully considered by any EU business involved in any enterprise in Iran, or with Iranian persons and entities. At the same meeting the EU Foreign … Read more