The EU Council has unanimously decided to add the violation of restrictive measures to the list of ‘EU crimes’. Currently Member States have different definitions of what constitutes a violation of EU sanctions and what penalties should be applied in the event of a violation. In a related development, the Justice ministers of France and Germany have jointly published an article which argues that the European Public Prosecutor’s Office should be given the competence to prosecute and punish violations of EU sanctions.
On Monday 3 October 2022 from 08:30 am – 10:00 am CEST, Baker McKenzie will be hosting an intimate in-person roundtable discussion on Sanctions and Export Controls in our Paris office. This event will give you the chance to ask questions to our team of experienced lawyers from Europe and the US and discuss best practices with us and your peers.
Baker McKenzie’s Sanctions Blog published the alert titled UK introduces further sanctions against Russia and Belarus on 1 August 2022. Read the article via the link here. Please also visit our Sanctions Blog for the most recent updates.
Baker McKenzie’s Sanctions Blog published the alert titled UK introduces further sanctions against Belarus on 6 July 2022. Read the article via the link here. Please also visit our Sanctions Blog for the most recent updates.
There have been three important changes to OFSI’s enforcement powers: for breaches of financial sanctions that are committed after 15 June 2022, OFSI will be able to impose civil monetary penalties on a strict civil liability basis; there will be greater flexibility on challenging OFSI’s decisions to issue monetary penalties for sanctions violations; and OFSI will now have the power to publicise details of financial sanctions breaches in cases where a breach has been found, but it has not imposed a monetary penalty. These changes are introduced by the SI 2022/638 – The Economic Crime (Transparency and Enforcement) Act 2022 (Commencement No. 2 and Saving Provision) Regulations 2022.