On 31 July 2025, the UK Office of Financial Sanctions Implementation (âOFSIâ) announced that it had imposed a monetary penalty totalling GBP 300,000 on Markom Management Limited (âMMLâ), a provider of fiduciary, management, administration, bookkeeping and accounting services incorporated in the UK. The monetary penalty related to conduct in 2018 and a breach of the UKâs pre-Brexit sanctions regime, specifically the UKâs implementing regulations for Council Regulation (EU) No 269/2014 (Ukraine Misappropriation and Human Rights)…
At the Annual Compliance conference recently held in London, Baker McKenzie hosted a session on âThe evolving national security, sanctions and export controls landscapeâ. This session introduced the concept of the âtrade toolboxâ â a growing set of measures designed to manage national security risks through trade and investment restrictions. Speakers highlighted the increasing complexity of global compliance, particularly in relation to business relating to China, Russia, and in the Middle East. China: outbound investment,…
The EU Commission has issued a factsheet shedding light on the relationship between Incoterms and EU sanctions compliance. It makes clear that the Incoterms âEx Worksâ ruleâwhich shifts responsibility and risk to the importer/buyer from the moment of collecting the goodsâdoes not exempt EU-based exporters or sellers from their legal obligations under EU sanctions law. The Commission underscores that adherence to EU sanctions is mandatory for all individuals and entities under EU jurisdiction, regardless of…
Baker McKenzie Luxembourg will be holding a breakfast seminar on Thursday, 5 June 2025 at 8:30 am CET at the Baker McKenzie Luxembourg office. During this session, attendees will learn about the challenges that counsel may face in representing sanctioned clients following the prohibition on legal advisory services and the courts’ decision to protect sanctioned clients’ right to a fair trial. Our experts will also discuss the challenges in arbitration related to economic sanctions and potential…