On 30 September 2024, the UK Government issued a notice stating that from 31 October 2024, the provision of intra-group services will no longer be a specific licensing ground available in relation to professional and business services provided by UK companies to their Russian subsidiaries. Licence applications submitted before 31 October 2024 will not be affected by the change. Under Regulation 54C of The Russia (Sanctions) (EU Exit) Regulations 2019 (âUK Russia Regulationsâ), it is prohibited…
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…
On 29 June 2024, the EU adopted a new Belarus sanctions package by amending Council Regulation (EU) 765/2006 (the âEU Belarus Sanctionsâ), effective from 1 July 2024. The amending regulation can be found here. The new package increases the alignment of the EU Belarus Sanctions with the EUâs sanctions against Russia (including those contained in Regulation (EU) 833/2014 (the âEU Russia Sanctionsâ), as recently updated), in order to address the risk of circumvention. The new…
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…