A UK Court of Appeal decision in June 2024 has heightened the UK’s focus on the potential for money laundering offences within global supply chains. There is now a greater risk that UK law enforcement may recover assets from companies that fail to perform adequate due diligence on their supply chain, even if adequate consideration
On Tuesday 23rd July, energy and natural resources partners Sachin Kerur and James Willn, along with international trade partner Leigh Hansson, hosted the highly anticipated webinar “Sanction Strategies: Focus on India, China, and the Middle East.” During this insightful session, the team delved into the latest sanctions decisions, explored the implications for companies in these
On July 10, BIS released new guidance strongly encouraging companies involved in exporting, reexporting, or transferring (in-country) Common High Priority List (CHPL) items to screen transaction parties against the list maintained by the Trade Integrity Project (TIP) (in addition to the Consolidated Screening List).
TIP is an initiative of the UK-based Open-Source Centre that
Back to a new normal?
As of 30 June 2024, the EU’s Temporary Crisis and Transition Framework for state aid measures, which was introduced following the Russian invasion of Ukraine, has expired in relation to state aid measures applicable to most sectors. Measures relating to the primary agriculture, fishery, and aquaculture sectors remain covered by
On 24 June 2024, the EU agreed the long-awaited 14th package of sanctions against Russia. These latest measures introduce several new thematic restrictions and imposed asset freeze measures on an additional 116 individuals and entities including Sovcomflot and the Volga Dnepr Group.
On June 12, the Office of Foreign Assets Control (OFAC) and Bureau of Industry and Security (BIS) released new sanctions and export controls intended to further target Russia and Belarus, as well as those who transact with sanctioned entities and create diversion risks for export-controlled items.
New restrictions on certain IT and software services, effective
On 14 September 2022, as part of a suite of regulatory changes targeting cross-border supply chains, the European Commission presented its proposal for a Forced Labour Regulation.
In November 2023, the European Parliament adopted its position on the Commission’s proposal, followed by the Council of the EU adopting its General Approach in January 2024. After
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Background
Russia’s military action against Ukraine has had a profound impact on Ukraine’s ability to trade with the rest of the world. Under such exceptional circumstances and to mitigate the negative economic impact of Russia’s aggression on Ukraine, the EU decided in May 2023 to grant sweeping concessions to Ukraine in the form of trade-liberalisation
Effective May 17, the Department of Homeland Security (DHS) is adding 26 China-based cotton traders and warehouse facilities to the Uyghur Forced Labor Prevention Act (UFLPA) Entity List based on the U.S. government’s reasonable cause to believe the entities source or sell cotton from China’s Xinjiang Uyghur Autonomous Region (Xinjiang). These companies will now be
President Biden issued an order requiring a Chinese-owned crypto mining company to vacate and sell certain real property and remove equipment from land in close proximity to Warren Air Force Base (AFB) in Cheyenne, Wyoming.
In June 2022, the crypto mining company acquired 12.06 acres within 1 mile of the Warren AFB, a strategic missile
