Baker McKenzie’s Sanctions Blog published the alert titled United States: OFAC Reissues and Extends General License Authorizing Certain Transactions Involving the Central Bank of Russia, the National Wealth Fund of the Russian Federation, or the Ministry of Finance of the Russian Federation on 2 June 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 Introduces An Import and Export Ban on the Trade of Certain Luxury Goods with Russia, Prohibits the Export of Goods With Use in Weapons Manufacturing and Designates 14 Additional Russian Individuals on 23 May 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 Ukraine: Cancellation of marketing authorizations for pharmaceuticals manufactured in Russia or Belarus or held by companies affiliated or otherwise related to those with manufacturing facilities in Russia or Belarus on 25 May 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 Ukraine introduces new mechanism for expropriation of property blocked by sanctions on 25 May 2022. Read the article via the link here. Please also visit our Sanctions Blog for the most recent updates.
The UK government has introduced a bill to help bring into force the UK-Australia and the UK-New Zealand Free Trade Agreements (“FTAs“).
The bill is a key step in ratifying the FTAs but before they come into force, Parliament must scrutinise the FTAs, agree the bill and pass secondary legislation to make the changes required to the UK’s procurement regime to meet the terms of the FTAs.
Baker McKenzie’s Sanctions Blog published the alert titled Department of Commerce Expands Russia Industry Sector Sanctions to Cover Additional Items on 13 May 2022. Read the article via the link here. Please also visit our Sanctions Blog for the most recent updates.
More than one year since China’s new Export Control Law became effective, the Ministry of Commerce has finally released the long-awaited Regulations on Dual-use Item Export Control draft, for public comments on 22 April 2022.
On 28 April 2022, the UK introduced The Export Control (Amendment) Order 2022, amending the Export Control Order 2008, which will come into force on 19 May 2022. An additional control on military end-use will apply; however there are no amendments to the underlying dual-use regulation and the existing end-use control will continue to apply separately.
Baker McKenzie’s Sanctions Blog published the alert titled Japan introduces further sanctions against Russia on 19 May 2022. Read the article via the link here. Please also visit our Sanctions Blog for the most recent updates.
On May 12, 2022, the US Treasury Department’s Office of Foreign Assets Control issued Syria General License No. 22 (“GL 22“), authorizing certain activities in particular sectors of the Syrian economy that are otherwise prohibited under the Syrian Sanctions Regulations in specified regions of Syria not controlled by the Assad regime. According to the US Statement Department’s press release, GL 22 was issued in support of the Biden Administration’s strategy to defeat ISIS by promoting economic stabilization in areas previously controlled by ISIS.