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 specified information to the Office of Financial Sanctions Implementation (“OFSI“) in Her Majesty’s Treasury (“HMT“). … Read more

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

Iran sanctions update: New EU measures in force

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