On 19 July, the UK Office of Financial Sanctions Implementation (“OFSI”) issued a general licence (available here) that permits payments by UK air carriers and aircraft operators to Belarus’ air traffic control service Belaeronavigatsia, an entity designated under the UK’s sanctions against Belarus. The licence permits payments to Belaeronavigatsia for air traffic services provided pursuant to an emergency situation (being a situation requiring an aircraft to land in or overfly Belarus to avoid endangering the…
The Baker McKenzie International Commercial and Trade team is delighted to invite you to watch our latest mini webinar series on some key recent trade developments. This webinar covering the recent sanctions against the regime in Belarus will last only 30 minutes, and is intended to give you an overview of the developments, and the key takeaways to ensure compliance by your business. See below for more details. Belarus Sanctions The US, the EU, the…
On 7 July 2021, the Swiss government amended the list of designated parties in its Ordinance of Measures against Belarus, targeting an additional 78 individuals and 7 entities. These designated parties are subject to asset freezes, travel bans and a prohibition on funds and economic resources being made available to them or parties owned or controlled by them. These designations follow the coordinated round of sanctions announced by the EU, UK, US and Canada on…
On 23 June 2021, HM Treasury released updated guidance on financial and investment restrictions under the Russia (Sanctions) (EU Exit) Regulations 2019 (the “Regulations”). Whilst the guidance is substantively the same as that released in June 2020, a number of “Frequently Asked Questions” have been added to clarify interpretation of the Regulations. The Frequently Asked Questions reflect some, though not all, of the guidance previously outlined by the European Commission in relation to its interpretation…