On 12 September, the UK Government announced new powers for the civil enforcement of trade sanctions pursuant to the Trade, Aircraft and Shipping Sanctions (Civil Enforcement) Regulations 2024, the “Trade Enforcement Regulations”). From 10 October 2024, the Government will be able to impose penalties of up to GBP 1 million or 50% of the value of breaches of trade sanctions (whichever is greater) in relation to certain breaches of UK trade sanctions. The new powers…
On 5 September 2024, the UK amended the scope of its Russia sanctions relating to the provision of certain legal advisory services to non-UK persons, as contained in Regulations 54D and 60DB of The Russia (Sanctions) (EU Exit) Regulations 2019 (âUK Russia Regulationsâ), via The Russia (Sanctions) (EU Exit) (Amendment) (No. 4) Regulations 2024 (the âAmending Regulationâ). The Amending Regulation entered into force on 6 September 2024, in short (i) clarifying the knowledge a person must have…
For the second week of our Annual Compliance Conference, we discussed key trade compliance issues impacting our clients globally. Specifically, we discussed the trade policy response of the US, EU and U.K. to ever increasing geopolitical disruption, global strategies for handling sanctions regulators and enforcement, and key global sanctions and export controls developments. Trade policy response to geopolitical disruption – China and beyond Tuesday 7 May SPEAKERS: Tristan Grimmer (Partner, London), Sylwia Lis (Partner, Washington…
On Monday 11 March, the UK Export Control Joint Unit (the âECJUâ) announced amendments to its Export Control Order 2008 (the â2008 Orderâ) and Council Regulation (EC) No 428/2009 (the âRetained Dual-Use Regulationâ), pursuant to the Export Control (Amendment) Regulations 2024 (the âRegulationsâ). The Regulations will come into force on 1 April 2024 and will amend Schedules 2 and 3 of the 2008 Order, as well as Annex I of the Retained Dual-Use Regulation. Amendments…