Borys Dackiw

US – Treasury Department removes UAE from list of boycotting countries

April 19, 2021 By Kerry B. Contini, Alexandre (Alex) Lamy, Callie Lefevre and Borys Dackiw 3 Mins Read

On April 8, 2021, the US Treasury Department published an updated List of Countries Requiring Cooperation With An International Boycott (the “Treasury List”). Significantly, Treasury announced that it had removed the UAE from the Treasury List following the UAE’s repeal of its law requiring participation with the Arab League Boycott of Israel and subsequent implementation of the new policy. In connection with its establishment of full diplomatic ties with Israel last year under the UAE-Israel Abraham Accords,…

Lifting of restrictions with Qatar – what you need to know

January 18, 2021 By Borys Dackiw, Ian Siddell, Mohsin Iqbal, Samir Safar-Aly and Jad Slim 2 Mins Read

As reported in our previous client update, on 5 January 2021, the Kingdom of Saudi Arabia, the United Arab Emirates (UAE), Bahrain and the rest of the Gulf Cooperation Council (GCC) member states, along with Egypt, signed the “Al-Ula Declaration” at the 41st GCC Summit held in the city of Al-Ula. This marks the end of a three and a half year boycott against the State of Qatar, which was put in place in June…

US and GCC target ISIS financial network

July 30, 2020 By Kerry B. Contini, Samir Safar-Aly and Borys Dackiw 2 Mins Read

On 15 July 2020, the U.S. and Gulf Cooperation Council (“GCC”)-led Terrorist Financing Targeting Center (“TFTC”) designated six targets affiliated with the Islamic State of Iraq and Syria (“ISIS”), including an entity allegedly posing as a charity (and its director) based in Afghanistan that allegedly provided support to ISIS’ branch in that country, ISIS-Khorasan (“ISIS-K”). The entities that were designated are: Al Haram ExchangeTawasul CompanyAl-Khalidi ExchangeNejaat Social Welfare Organization Five of these targets (which includes…