The recent amendments to the Russian iron and steel sanctions that came into effect across Europe on 30 September 2023 have had a significant impact across sectors. We previously reported on the business consequences and recommendations on the tightened restrictions in our blog post available here. Although the latest restrictions are still in their early days, it is becoming increasingly clear that cooperation between sanctions and customs teams within businesses is crucial to ensure that…
Baker McKenzie’s Global Compliance News Blog published “Global: 2022: International Trade Developments in a Challenging New World,” which can be viewed here.
Baker McKenzie’s Global Compliance News Blog published “Multijurisdictional: 2021 Virtual Global Trade Conference,” which can be viewed here.
Following coordinated designations of certain Belarusian individuals and entities earlier this week (see our previous post here), the EU has announced that further sector-based economic sanctions will come into force on 25 June 2021. The restrictions are implemented by Council Regulation (EU) 2021/1030 (the “Regulation“), which amends Regulation (EC) No 765/2006. The new sanctions target a broad range of technology and software, dual-use goods and technology, tobacco, petroleum and potash products, and financial services. The prohibitions apply regardless of…
On 31 December 2020, the UK’s Brexit transition period with the EU ended, and the UK became a third country with respect to the EU from a sanctions and export controls perspective. The UK now has its own autonomous sanctions and export control regimes – closely related to the EU’s regimes, but with important differences and complexities that clients need to be aware of. We have written an alert that summarises the key considerations for companies in…
The UK Department for International Trade has recently published guidance on how the UK will transpose and implement the EU Blocking Regulation (Council Regulation (EC) 2271/96) post-Brexit. The EU Blocking Regulation seeks to counter the extra-territorial impact of certain US sanctions (the “proscribed US sanctions”), currently in respect of Iran and Cuba (please see our previous blog post on updates of the EU Blocking Regulation in respect of Iran here). During the transition period, the EU…