The second act on the effective enforcement of sanctions (Sanctions Enforcement Act II) came into force on 1 January 2023. This includes not only sanctions-related measures, but also amendments to other laws, in particular the German Money Laundering Act, and has implications for the obligations of companies with regard to the transparency register.
On 9 January 2023, Canada announced further amendments to the Special Economic Measures (Iran) Regulations in response to those who “systematically violate human rights and spread the Iranian regime’s propaganda and misinformation.” These amendments list an additional two individuals and three entities under Schedule 1 of the Regulations and entered into force on 6 January 2023. Unlike past announcements, the government’s News Release provides particulars describing each newly designated individual and entity.
On 10 January 2023, Canada enacted the Special Economic Measures (Sri Lanka) Regulations in response to former state officials responsible for committing “gross and systemic violations of human rights.” The Regulations entered into force on 6 January 2023 and list four individuals on Schedule 1, including former Presidents Gotabaya Pajapaksa and Mahinda Rajapaksa.
Baker McKenzie’s Sanctions Blog published the alert titled Switzerland Implements Further EU Sanctions Measures on 9 January 2023. 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 OFAC Publishes Preliminary Guidance on Implementing the Price Cap Policy for Petroleum Products of Russian Origin on 6 January 2023. Read the article via the link here. Please also visit our Sanctions Blog for the most recent updates.
Given the intensity and pace of change related to sanctions following the Russian invasion of Ukraine, EU Member…
On 16 December 2022, the US Department of State’s Directorate of Defense Trade Controls issued a proposed rule that would treat two additional types of transactions as activities that are not exports, reexports, retransfers, or temporary imports (“controlled events”) (and, thus, not require authorization) under the International Traffic in Arms Regulations.
On 20 December 2022, Canada announced amendments to the Special Economic Measures (Haiti) Regulations in response to the “acts of significant corruption that are fueling the crisis” in Haiti. These amendments list an additional two individuals under the Schedule of the Regulations and took effect on 15 December 2022.
Baker McKenzie’s Sanctions Blog published the alert titled OFAC Designates Major Russian Financial Institutions and Issues New and Amended Russia-Related General Licenses; New FAQs on 20 December 2022. Read the article via the link here. Please also visit our Sanctions Blog for the most recent updates.
The new version of the Mexican General Import and Export Duties Law, including its tariff schedule, published on 7 June 2022, became effective on 12 December 2022. Consequently, several administrative regulations updating tariff classifications also became effective on that same date. This includes the latest amendments to the Export Controls Regulation, published on 24 November 2022 and the Embargoes Regulation, published on 11 October 2022.