On November 21, 2024, the US Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) designated dozens of Russian banks, including Gazprombank and other Russian banks, securities registrars, and finance officials, to the List of Specially Designated Nationals and Blocked Persons (“SDN List”). The full SDN designation of Gazprombank, the largest remaining Russian bank, is particularly notable given its role in supporting gas flows between Russia and remaining European and other customers. On the…
On November 12, 2024, as part of our 2024 Global Year-End Review of Import/Export & Trade Compliance Developments Conference, Baker McKenzie hosted an in-person fireside chat with Kyle Sullivan, Vice President of Business Advisory Services at the US-China Business Council (“USCBC”). In the discussion with Baker McKenzie’s Senior Counsel, John McKenzie, Mr. Sullivan discussed the changing commercial and business environment for US and multinational companies doing business in China. The key takeaways are summarized below:
Our annual Global Year-End Review of Import/Export & Trade Compliance Developments Conference is just one week away! If you haven’t registered yet, this is your final chance to sign up and secure your spot. We are holding this conference in a split-hybrid format, with an in-person event in Santa Clara, CA, on November 12 and virtual panels on November 19-21. In-Person Event l November 12 Join us for a crucial fireside chat post-US presidential election on “Navigating the…
On 24 September 2024, the G7 Sub-Working Group on Export Control Enforcement, which comprises representatives from the United States, Canada, France, Germany, Italy, Japan, the United Kingdom, and the European Union (the “G7”), published the first-ever joint guidance for industry on preventing evasion of export control and sanctions imposed on Russia (“Joint Guidance”). The stated goal of the Joint Guidance is to assist industry in identifying Russia’s evolving evasion tactics and in complying with multilateral…