On June 28, 2023, the US Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) and the Office of Financial Sanctions Implementation of the HM Treasury (“OFSI”) jointly issued a Humanitarian Assistance and Food Security Fact Sheet (the “Fact Sheet”) to provide additional clarity on US and UK Russia-related sanctions in the context of humanitarian assistance and the export to Russia of agricultural commodities, medicines, and medical devices. The Fact Sheet provides US and…

As heightened sanctions activity amplifies challenges for those operating in a global environment, navigating this landscape requires a comprehensive – and collaborative – approach. Addressing this, Baker McKenzie’s Anahita Thoms (Partner, Berlin) is joined by Sean Doherty (Head, International Trade and Investment; Member of the Executive Committee, World Economic Forum) and Hera Smith (Director, Financial Crime Compliance, Moody’s Analytics) to discuss how organizations can more confidently ensure sanctions compliance. This podcast is available via Apple,…

In brief After intense debates in the Council of the European Union, the EU has agreed on an 11th package of sanctions against Russia and its supporters in their aggression against Ukraine. The relevant Council Regulation (EU) 2023/1214 and Council Regulation (EU) 2023/1215 (respectively amending Regulation (EU) 833/2014 and Regulation (EU) 269/2014) have been published in the Official Journal of the EU, LI 159/1 on 23 June 2023. Following publication, the amending regulations entered into…

On 29 May 2023, the Ukrainian Parliament approved the decision of the National Security and Defense Council of Ukraine to introduce sectoral special economic and other restrictive measures (sanctions) against the Islamic Republic of Iran.[1] The sanctions will apply for 50 years and provide for the following: prohibition on trade operations with military and dual-use goods with residents of the Islamic Republic of Iran — if the international transfers of such goods are subject to…