On 21 December 2021, the Court of Justice of the European Union (“CJEU”) issued its judgment in Bank Melli Iran (C-124/20), which we have previously written about here. The judgment relates to the application of the EU Blocking Regulation (Regulation (EC) No 2271/96). The Blocking Regulation prohibits EU businesses from complying with certain extraterritorial US sanctions targeting Iran and Cuba. In many Member States, breaches of the Blocking Regulation can expose you to criminal penalties, albeit…
On December 2, 2021, the EU, UK, US, and Canada all imposed additional coordinated sanctions on Belarus as a punitive action against the government led by President Alexander Lukashenko, which has been accused of human rights violations and creating a migrant crisis at Belarusian borders. As further described below, the sanctions included the designation of a number of parties (individuals and entities), whilst certain individuals will also be subject to travel bans preventing them entering…
In press remarks following the Foreign Affairs Council’s session of 12 July 2021, High Representative Josep Borrell announced the EU will be launching a new sanctions regime against Lebanon by the end of the month. A decision will be adopted by the Foreign Affairs Council “without delay”. The regime will target “those who are responsible” for “political stalemate” in Lebanon. Whilst the regime’s structure will be in place by the end of July, it is…
On 21 June 2021, the UK and EU both announced further sanctions targeting individuals and entities linked to Myanmar’s military regime. The EU announced that it was imposing sanctions against an additional 8 individuals, 3 economic entities (Myanmar Gems Enterprise; Myanmar Timber Enterprise (“MTE”); and Forest Products Joint Venture Corporation Limited) and the War Veterans Organisation. All designated persons are subject to asset freezes, with individuals subject to travel bans. EU persons are prohibited from…