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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 specified information to the Office of Financial Sanctions Implementation (“OFSI“) in Her Majesty’s Treasury (“HMT“). … Read more
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
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 Hakim, Abd Al-Khaliq Al-Huthi and Ali Abdullah Saleh. These individuals were designated on the basis … Read more
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 restrictions applied to listed Russian entities. For further background on these sanctions, please see our … Read more
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 EU enacted Council Regulation 2014/42 (the “Implementing Regulation”), which suspends relevant measures for a six … Read more
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 and provide an update on other recent changes to EU and US sanctions. Read more
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 is part of a suite of transparency initiatives which are designed to promote good governance … Read more
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, and the travel ban imposed on six members of the Government was suspended. The EU … Read more
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 the EU, still engaged in trade with Iran, Iranian persons or Iranian-origin goods. Probably the … Read more
