UK Uses Post-Brexit Sanctions Powers to impose Magnitsky-style sanctions
Helping you keep up to date with the latest sanctions developments that may affect your business.
Sanctions regimes have been evolving very quickly in a rapidly changing environment, particularly as a result of the ongoing instability in the Middle East. The scope and complexity of sanctions regulation is also increasing, meaning multinational businesses should carry out an assessment of all such regulation to establish whether any sanctions are applicable to the business they intend to carry out to ensure they stay on the right side of fast moving international sanctions law.
We recognise that managing risk is central to our clients' strategic and business objectives and we have developed a particularly strong record in advising on sanctions issues, both unilateral and multilateral, in the context of such compliance. We work alongside our clients' compliance teams and we are aware that international trading companies are particularly vulnerable to regulatory risk due to the range of countries in which they operate, which often include "challenging" jurisdictions.
Our wide experience of working in new and emerging markets has necessitated our ability to advise on how economic and trade sanctions can affect a business globally. Our specialists in sanctions can provide an international service and multidisciplinary advice across the business areas affecting international commodity trading companies - we have particular expertise regarding the impact of sanctions on trade, shipping, insurance and transportation and are recognised as a market leader in this area.
We have recently advised many of our trading clients on the implications of the imposition of trade sanctions against Iran, Syria and Libya by the US and the EU and the recent actions of the Arab League and Turkey. In addition we have advised an EU domiciled bank on EU sanctions regulations applicable to trade finance operations between the EU bank and its Libyan subsidiary bank.