Baker McKenzie’s Sanctions Blog published the alert titled OFAC Reissues the Ukraine-/Russia-Related Sanctions Regulations and Updates Related Guidance on 6 May 2022. Read the article via the link here. Please also visit our Sanctions Blog for the most recent updates.
On April 25, 2022, the US Treasury Department’s Office of Foreign Assets Control (“OFAC”) re-issued General License 13R (“GL 13R”) and General License 15L (“GL 15L”), narrowing those authorized activities with GAZ Group and entities owned 50% or more by GAZ Group (“GAZ”), as further described below. OFAC also issued a set of updated FAQs to clarify the scope of authorized activities under these GLs.
Baker McKenzie’s Sanctions Blog published the alert titled OFAC Targets Sanctions Evaders, Issues New General Licenses and Fact Sheet; President Biden Issues Proclamation Targeting Russian-Affiliated Vessels on 23 April 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 BIS Updates List of Aircraft Exported to Russia or Belarus in Apparent Violation of the EAR on 23 April 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 Canada Imposes Additional Sanctions on 203 Officials of the Governments of the so-called DPR and LPR on 28 April 2022. Read the article via the link here. Please also visit our Sanctions Blog for the most recent updates.
In this panel discussion with Tiffany McConnell King (Corporate Director and Division Counsel, Global Sustainment and Modernization, Northrop Grumman Corporation) and Kirk Foster (Assistant General Counsel and Director of Compliance and Privacy, HII Mission Technologies), Marilyn Batonga (Partner, Baker, McKenzie) and Maurice Bellan (Partner, Baker McKenzie), we uncover the latest trends and analyze enforcement actions related to international government procurement, focusing on risks based on conduct abroad as well as False Claims Act risks.
Baker McKenzie’s Sanctions Blog published the alert titled US President signs bills revoking Russian trade status and barring energy imports on 11 April 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 BIS expands sanctions against Russia and Belarus and adds four countries to global export controls coalition on 12 April 2022. Read the article via the link here. Please also visit our Sanctions Blog for the most recent updates.
The SEC’s recently released (and long-awaited) proposed rule changes that will require disclosure of climate-related risks are likely to have significant supply chain implications. The Proposed Rule would require listed companies to disclose information on climate-related risks and Greenhouse gas emissions; both of these disclosure categories include data related to corporate supply chains, and thus the Proposed Rule would essentially require public companies to obtain and analyze climate risks and climate impact data related to its upstream and downstream suppliers.
The first wave of retaliatory tariffs against certain Chinese-origin goods (the so-called Section 301 duties) are set to terminate under the Trade Act of 1974. By statute, the measures terminate after 4 years unless an affected party benefitting from the tariffs submits a request to the United States Trade Representative that the action be continued within the final 60-days of the 4-year period. Once such a request is submitted, the USTR must conduct a review and determine whether the action should be continued. The first round of the Section 301 retaliatory tariffs on products of China, commonly known as “List 1,” was effective July 6, 2018, which means a request that this action be continued would need to be “submitted” between May 7, 2022 and July 6, 2022 to trigger USTR to conduct its review.