On 13 June 2024, the Office of Financial Sanctions Implementation (OFSI) expanded its Consolidated List, which provides details of individuals and legal entities designated under the Russia (Sanctions) (EU Exit) Regulations 2019 (S.I. 2019/855). There are 42 new entries added to the Consolidated List which are now subject to an asset freeze and trust services sanctions. Notably, Moscow Exchange, SPB Exchange and National Settlement Depository are amongst some of the new Russian entries. Earlier this week,…
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 December 2023, the UK Government updated its Notice to Importers (see here), published a new General Trade Licence (see here) and updated its guidance (see here) in relation to the UK’s iron and steel sanctions targeting Russia. As noted in our previous blog in April 2023, the UK introduced sanctions imposing a prohibition on the import of iron and steel products where the metal originated in Russia but was processed in a…
On October 31, 2023, the US, UK, and Canadian governments imposed further coordinated sanctions against Myanmar (Burma) through designations of individuals and entities associated with Myanmar’s military regime and a US prohibition on the provision of financial services to Myanma Oil and Gas Enterprise (“MOGE”). The measures aim to prevent the Burmese military from obtaining access to arms and other supplies and are part of an effort to unify sanctions measures on Myanmar across the…