On October 31, 2019, the US State Department strengthened US secondary sanctions targeting Iran under the Iran Freedom and Counter-Proliferation Act of 2012 (“IFCA”) (codified at 22 U.S.C. § 8801 et seq.), which dates back to 2013. These new IFCA sanctions target the construction sector in Iran and make sanctionable the export to Iran of certain strategic metals. Read more…
On November 06, 2019, the Swiss Government adopted selective adjustments to the Swiss sanctions against the Democratic People’s Republic of Korea, thereby implementing the exceptions to the export ban agreed by the UN SC Sanctions Committee. The amendment will come into force on 1 December 2019.
On 14 October, the United States and European Union each adopted sanctions measures targeting Turkey, in response to Turkey’s military offensive in northern Syria. Subject to certain exceptions discussed further below, the US measures under a new Syria-related Executive Order (“New Syria EO“) took effect immediately and authorize sanctions targeting parties engaging in certain Syria-related activities, the Government of Turkey and Turkish Government officials, and certain sectors of the Turkish economy.
The EU measures are expected to come into effect shortly.