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US Congress Agrees to Advance Iran, Russia, and North Korea Sanctions Bill

Last month, the US Senate passed significant Russia sanctions legislation. Last Friday, the Senate and House of Representatives reached agreement to advance the bill. The House approved the bill yesterday.

Decreased Enforcement Expected From SEC Regarding Conflict Minerals Regulations – For Now

Any company manufacturing or contracting to manufacture products using such conflict minerals had previously been required to conduct extensive due diligence on its supply chain. Following a series of partial losses in court, the SEC appears to be backing off the rule—for now.

US Treasury Department Imposes Restrictions on Chinese Bank

The US Treasury Department’s Financial Crimes Enforcement Network issued for public inspection a notice of proposed rulemaking that would restrict a Chinese commercial bank’s access to the US financial system based on a finding that the bank was involved in money laundering activities involving North Korea.

EU extends economic sanctions against Russia by six months

The European Council has unanimously agreed to extend economic sanctions targeting the Russian economy by 6 months, until 31 January 2018.

Qatar Diplomatic Crisis: How it may impact you?

On Monday, June 5, 2017, Saudi Arabia, the United Arab Emirates, Bahrain and Egypt cut diplomatic ties with Qatar and moved to close off access to the Gulf country, with an embargo on air, sea or land traffic to and from Qatar. What does this mean for your company?

Russia partially lifts foreign trade sanctions against Turkey

On May 31, 2017 the Russian President signed a Decree on repeal of a number of foreign trade measures against Turkey. The Decree repeals several prohibitions.

Webinar: The latest on compliance, sanctions and trade restrictions in Ukraine – video files

On 25 April 2017, the Kyiv office of Baker McKenzie held a webinar on implementing efficient compliance programs in Ukraine for multinational companies and featured an update on Ukrainian sanctions and trade restrictions, including trade restrictions introduced in relation to Russia and the Crimea, as well as an update on Occupied Territories in the East of Ukraine.

Council extends EU sanctions against Iran

On 11 April 2017, the Council extended EU sanctions against Iran, which will now be in place until 13 April 2018.

Baker McKenzie Webinar: The latest on compliance, sanctions and trade restrictions in Ukraine

Since 2014, Ukraine has significantly enhanced its anti-corruption and trade sanctions legislation and enforcement practices to align with US and EU standards. Now companies face the risk of criminal liability for corruption-related actions of their employees and full suspension of all operations in Ukraine for violating trade sanctions and restrictions, including trade restrictions introduced in relation to Russia and the Crimea.

Significant changes to UK sanctions enforcement come into force

On 1 April 2017, the sanctions-related provisions of the Policing and Crime Act 2017 came into force, bringing in significant changes to the UK financial sanctions enforcement landscape.

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