In three separate statements of February 25, 27 and 28 2022, the Prime Minister of Japan, Fumio Kishida, announced that Japan will impose additional sanctions on Russia. The new measures will include: asset freezes and suspension on issuing visas for key Russian individuals, including President Putin;asset freezes of selected Russian banks and other entities;working with allies in order to cut-off selected Russian banks from SWIFT;restrictions on transactions with the Central Bank of the Russian Federation;…
On February 23, 2022, the Prime Minister of Japan, Fumio Kishida, made an announcement that Japan will implement a set of economic sanctions against Russia and the so-called Donetsk People’s Republic (“DPR”) and Luhansk People’s Republic (“LPR”) in eastern Ukraine. Japan has condemned the latest Russian move of recognizing the break-away areas as a violation of the sovereignty and territorial integrity of Ukraine as well as international law. Accordingly, the Japanese government has decided to…
On 17 May 2019, the Council adopted Council Regulation (EU) 2019/796 (the “Regulation”), which establishes a framework for the EU to impose sanctions in relation to cyber-attacks which constitute an external threat to the EU or its Member States. Cyber-attacks against third states or international organisations also fall within the ambit of the framework where necessary to achieve the objectives of the EU’s Common Foreign and Security Policy. The UK and the Netherlands played a…
The US Departments of State, Treasury, and Homeland Security warned companies in a new advisory that deceptive practices by North Korea to evade US, UN, and other sanctions could put them at risk of prohibited or sanctionable dealings with the North Korean regime. The advisory published on July 24, 2018 follows February 2018 guidance from the US Treasury Department’s Office of Foreign Assets Control regarding certain deceptive shipping practices of North Korea to avoid US sanctions (see our prior blog post here). The new advisory encourages companies to undertake enhanced due diligence within their supply chains to avoid prohibited or sanctionable: (i) sourcing of goods, services, or technology from North Korea and (ii) use of the labor of North Korean citizens or nationals, which is presumed to be forced labor, regardless of where such labor occurs.