On 28 June 2023, the US Bureau of Industry and Security (“BIS”) announced that the “Five Eyes” countries (Australia, Canada, New Zealand, the United Kingdom and the United States) have agreed to formally coordinate on export control enforcement, with a particular emphasis on the export controls targeting Russia and Belarus, which have been a core tool in the broader sanctions toolbox. Baker McKenzie has deep export controls expertise in four of the Five Eyes countries: …
On 29 June 2023, the UK introduced further restrictions to The Russia (Sanctions) (EU Exit) Regulations 2019 (“UK Russia Regulations”) through the Russia (Sanctions) (EU Exit) (Amendment) (No. 3) Regulations 2023 (the “Amending Regulation”). The principal change enacted by the Amending Regulation is the introduction of restrictions on the provision of certain legal advisory services, which entered into force on 30 June 2023. The Amending Regulation prohibits the direct or indirect provision of legal advisory…
On 9 May 2023, the President of the European Commission, Ursula von der Leyen, announced further details on the proposed eleventh package of EU sanctions against Russia. According to the press statement issued by the European Commission and related press reports, the proposed package mainly focuses on combatting circumvention of EU sanctions. More specifically, it would include the following additional measures: Ban of ‘shadow’ entities from Russia and third countries that are intentionally circumventing EU…
Over the past eight weeks, following the announcement of the G7’s Sanctions Enforcement Coordination Mechanism, we have journeyed to our offices in each of the G7 members to ask our local sanctions experts to weigh in on what companies should know about sanctions enforcement in their jurisdiction — and what companies should be doing today to prepare — in light of the increase in sanctions enforcement, which we are already seeing on the ground. For…