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 that they have engaged in acts which threaten the peace, security or stability of Yemen. Continue reading
Category: Corporate Crime
On 13 December 2014, the US Congress passed legislation entitled the “Ukraine Freedom Support Act of 2014” (H.R. 5859) seeking to impose new sanctions against Russia and in support of Ukraine. On Thursday, December 18, President Obama signed the Act into law, while stating that at present, the Administration does not intend to impose new sanctions pursuant to the Act.
For further details on the law, click here to read our briefing.
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 blog.
On 12 May 2014, the EU announced that it was further expanding the sanctions imposed in connection with the situation in Ukraine in light of a perceived continuation of efforts to destabilise eastern and southern Ukraine. Continue reading
Following the weekend’s Crimea referendum, the EU and US have taken further steps (building on those outlined in our previous briefing) to impose targeted sanctions in response to the situation in Ukraine.
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 Order, allowing it to sanction Russian individuals and released a list of 11 Russian and Ukrainian individuals subject to an asset freeze and visa ban under its Executive orders.
For further detail, please click here for our e-bulletin on these developments.
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
The EU and US have both recently taken steps to respond 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 this asset freeze. The EU also held an emergency Heads of State meeting on 6 March. The conclusions from that meeting indicate that there is a possibility of EU sanctions being imposed on Russia in the absence of negotiations between Russia and Ukraine which produce results within a limited timeframe. Also on 6 March the US introduced an Executive Order which would permit the imposition of an asset freeze and visa bans although no companies or individuals have yet been designated. Continue reading
In the early hours of 24 November, the P5+1 (the UK, US, Germany, France, Russia and China, facilitated by the EU) announced that they had reached a set of initial understandings with Iran. In exchange for limits on Iran’s nuclear programme, the P5+1 have given undertakings to relax sanctions, including agreeing that no new nuclear-related sanctions will be imposed for six months and that certain existing sanctions (including the restrictions on the Iranian automotive sector and petrochemical exports from Iran) will be suspended, provided Iran abides by its commitments under the deal. Please click here for our full briefing.
The Serious Fraud Office (“SFO“) had its first day in court in a Bribery Act prosecution on 24 September 2013, with three of four defendants connected with a £23m fraud at Sustainable AgroEnergy plc (“AgroEnergy“) facing charges of making and accepting a financial advantage contrary to sections 1(1) and 2(1) of the Bribery Act 2010. Continue reading
On 8 August 2013 the Financial Conduct Authority (“FCA”) issued a Final Notice against Guaranty Trust Bank (UK) Limited (“GTBUK”), the fifth in a series of cases arising from the FSA’s 2010 thematic review of banks’ management of higher money laundering risk situations. Continue reading
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. Continue reading