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…
The European Commission has removed sanctions placed on six Iraqi state entities under Council Regulation (EC) No 1210/2003, effective from 23 April 2021. The entities include the Iraqi State Export Organisation as well as the Iraqi State Import Organisation. This mirrors the UN Security Council’s decision to remove the entities from its sanctions list on 15 April 2021.
On November 06, 2019, the Swiss Government adopted selective adjustments to the Swiss sanctions against the Democratic People’s Republic of Korea, thereby implementing the exceptions to the export ban agreed by the UN SC Sanctions Committee. The amendment will come into force on 1 December 2019.
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.