This week in our Sanctions Enforcement Around the World series, we bring you the view from Sweden, an EU member state that is currently seeing increased sanctions enforcement activity. In Sweden, but also in the Nordic region, the enforcement of sanctions violations has historically been rather low with a handful of criminal enforcement cases. However, during the past 12 months enforcement has been increased significantly, including a number of ongoing criminal investigations mainly driven by…
The G7 announced the creation of a new Enforcement Coordination Mechanism “to bolster compliance and enforcement of our measures and deny Russia the benefit of G7 economies” on the one-year anniversary of Russia’s invasion of Ukraine. The International Group of Seven (“G7”) is an intergovernmental forum whose members include the US, UK, Germany, France, Italy, Canada, and Japan, with the European Union as a “non-enumerated” member. As such, Germany, France and Italy are EU Member…
On December 3, 2022, G7 members formally set the highly anticipated price cap on Russian oil at 60 USD per barrel. This price cap applies to crude oil, petroleum oils, and oils obtained from bituminous minerals which originate in or are exported from Russia. Below we summarize (1) some of the key aspects of the G7’s price cap, and (2) the measures taken to implement the price cap by the EU,US, UK, Japan and Canada.…
On November 28, the EU published legislation which allows for restrictive measures against gang leaders in Haiti and their financiers. So far, only one person has been designated. See here and here for relevant Regulation and Council Decision. This is the first time that the EU has imposed sanctions against Haiti. The Regulation and Council Decision create a framework for introducing: travel restrictions;a targeted arms embargo;the freezing of funds and economic resources of persons, entities…