Baker McKenzie’s Sanctions Blog published the alert titled US and UK sanction cyber criminals in coordinated action on 17 February 2023. Read the article via the link here. Please also visit our Sanctions Blog for the most recent updates.
Baker McKenzie’s Sanctions Blog published the alert titled OFAC Issues Russian Petroleum-related Determinations, Updates Guidance on Implementation of the Price Cap Policy, and Amends Related General Licenses on 17 February 2023. Read the article via the link here. Please also visit our Sanctions Blog for the most recent updates.
In December 2022, the United Nations Security Council adopted a resolution which introduced a standardized humanitarian exemption across UN regimes according to which activities necessary for humanitarian assistance and other activities that support basic human needs are exempt from sanctions in the form of asset freezes imposed by the Security Council or by its Sanctions Committees. All UN sanctions regimes except the Afghanistan regulations will now include a standardized humanitarian exception to the asset freeze provisions.
Baker McKenzie’s Sanctions Blog published the alert titled Japan introduces further sanctions against Russia on 15 February 2023. Read the article via the link here. Please also visit our Sanctions Blog for the most recent updates.
Baker McKenzie is delighted to invite you to interactive seminars on 1 March 2023 in Abu Dhabi and 2 March 2023 in Dubai as part of our EMEA Russia Sanctions Briefings. The seminars will focus on the multijurisdictional sanctions challenges facing financial institutions and their clients and other corporates in the Gulf, in relation to the US, UK, EU and UAE sanctions regimes, particularly against Russia. We will also focus on the current enforcement environment and best practices for mitigating sanctions risk arising from potential compliance failures.
The current global sanctions environment — the new normal for Swiss companies: This was the topic of a Russia-focused seminar with members of Baker McKenzie’s global sanctions and investigations team, on 7 February 2023.
Baker McKenzie’s Sanctions Blog published the alert titled Ukraine introduces sanctions targeting Russian nuclear industry on 7 February 2023. Read the article via the link here. Please also visit our Sanctions Blog for the most recent updates.
Baker McKenzie’s Sanctions Blog published the alert titled FinCEN Issues Alert on Potential Russia Sanctions Evasion in the US Commercial Real Estate Sector on 7 February 2023. Read the article via the link here. Please also visit our Sanctions Blog for the most recent updates.
The Union Customs Code (UCC) harmonizes the customs laws of the European Union. The UCC stipulates that Member States must impose penalties for failing to comply with customs legislation, and that these penalties must be efficient, proportionate, and dissuasive. Member States must notify the Commission of the penalties that they apply to various acts of noncompliance and of any subsequent amendments to those penalties (if applicable).
The Department of Foreign Affairs, led by the Australian Sanctions Office, is undertaking a review of Australia’s Autonomous Sanctions Framework, ahead of the expiry on 1 April 2024 of the Regulations. The Review will assess whether the Framework remains fit for purpose. The Review will be informed by responses to an Issues Paper and by consultations with key stakeholders. The closing date for submissions is 26 February 2023, with the Review to be completed by 30 June 2023.