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 31 January 2016 in June 2015 when the EU confirmed that the duration of the … Read more

Corporate Crime Monthly Update October 2015

Welcome to the October 2015 edition of our corporate crime update – our round up of developments in relation to corruption, money laundering, fraud, sanctions and related matters. Our update now covers a number of jurisdictions. For the full update on each jurisdiction, please click on the name of the jurisdiction below. Below we provide … Read more

US Continues to Liberalize Trade Relations with Cuba

The US has taken further steps towards normal trade relations with Cuba by amending the Cuban Assets Control Regulations in order to relax US sanctions against Cuba. These actions follow other important milestones achieved since US President Barack Obama and Cuban President Raul Castro announced the normalization process on December 17, 2014.  For example, the … Read more

High Court rules that payment under a guarantee would breach EU Libya sanctions regime, and considers contractual exemption provisions

In a recent judgment, the English High Court has considered some of the exemption language commonly found in EU sanctions regimes which is applicable to contractual performance. The case of Glenn Maud v The Libyan Investment Authority [2015] EWHC 1625 concerned an application to set aside a statutory demand for payment under a guarantee. The … Read more

Iran nuclear agreement

The EU has announced that the ongoing talks between the P5+1 and Iran have again been extended and will now continue until 13 July. The announcement confirms that the current suspension of certain EU sanctions against Iran will continue until this date. Read more

Sanctions Update: Iran

Further to our previous briefing, it has been announced that negotiations between the P5+1 and Iran regarding Iran’s nuclear program have been further extended and will now continue until 10 July. As with previous announcements regarding the timeframe for negotiations, no steps have yet been taken by the UN, US or EU to introduce additional … Read more

EU extends duration of sanctions against Russia and Crimea & Sevastopol

The EU has recently announced an extension of its sanctions imposed in response to the situation in Ukraine. EU leaders had previously confirmed that the duration of sanctions affecting Russia would be linked to the implementation of the Minsk Agreements, currently foreseen to be completed by 31 December 2015. The EU has therefore taken steps … Read more