Category

Sanctions

Category

Signing of the “Al-Ula Declaration” ending trade and other restrictions against Qatar As reported in our previous client update, on 5 January 2021, the Kingdom of Saudi Arabia, the United Arab Emirates (UAE), Bahrain and the rest of the Gulf Cooperation Council (GCC) member states, along with Egypt, signed the “Al-Ula Declaration” at the 41st GCC Summit held in the city of Al-Ula. This marks the end of a three and a half year boycott against…

The UK Department for International Trade has recently published guidance on how the UK will transpose and implement the EU Blocking Regulation (Council Regulation (EC) 2271/96) post-Brexit. The EU Blocking Regulation seeks to counter the extra-territorial impact of certain US sanctions (the “proscribed US sanctions”), currently in respect of Iran and Cuba (please see our previous blog post on updates of the EU Blocking Regulation in respect of Iran here). During the transition period, the…

On Monday 6 July 2020, the UK introduced the first sanctions under its new Global Human Rights sanctions regime, targeting 47 individuals and 2 entities. The regulations setting out the sanctions are made under the Sanctions and Anti-Money Laundering Act 2018 (the “Sanctions Act”) and impose asset freezes and travel bans on individuals and entities responsible for or involved in serious violations of human rights. The Sanctions Act was introduced to allow the UK to…

On 27 February 2020, the European Council made its first designations under the designated party regime that it introduced in November 2019 in response to Turkey’s unauthorised drilling activities in the Eastern Mediterranean (see our previous update here). Two Turkish individuals have been designated with immediate effect: Mehmet Ferruh AKALIN, Vice-President (Assistant General Manager) and member of the Board of Directors of the Turkish Petroleum Corporation (TPAO); andAli Coscun NAMOGLU, Deputy Director of the Exploration…