In a significant move to counter Russia’s destabilizing actions abroad, the Council of the EU has enacted Regulation (EU) 2024/2642 on 8 October 2024 concerning restrictive measures in view of Russia’s hybrid, destabilizing activities (“EU Russia Destabilization Sanctions”). The new sanctions framework aims at targeting individuals and entities involved in hybrid activities that undermine the fundamental values and security of the EU, its member states, and international organizations. The decision, proposed by Josep Borrell, the High…
Baker McKenzie will be hosting a seminar on 8 October 2024 in Dubai as part of our EMEA Russia Sanctions Briefings. We will be joined for the seminar by representatives from our Global Sanctions Investigations Group, including from our US and London offices. The seminars will focus on the multijurisdictional sanctions challenges facing financial institutions and other companies in the Gulf, in relation to the US, UK, EU and UAE sanctions regimes, particularly against Russia.…
The 50th G7 Summit was held this past week from June 13-15 in Puglia, Italy. As one of the only law firms with sanctions experts in every G7 country, we monitored the Summit with our eyes and ears open for clues on the G7’s collective sanctions priorities — and what they mean for our clients who do business across the G7. We share our thoughts below. The authors of this blog post include representatives…
Last week, the G7 foreign ministers met on the island of Capri in Italy, which is currently serving in the role of the G7 Presidency. As one of the only law firms with offices and sanctions experts in every G7 country, we watched the meeting with great interest to see how the G7 will be approaching sanctions in the near future. We wanted to flag two quick takeaways from the statements coming out of the…