On 27 June 2023, the US Departments of State, the Treasury, Labor, Commerce, and Homeland Security, and the United States Agency for International Development issued a joint advisory — the Africa Gold Advisory — that (i) highlights the opportunities and specific risks raised by the gold trade across sub-Saharan Africa and (ii) encourages industry participants to adopt and apply strengthened due diligence practices to guard against such risks.
Baker McKenzie’s Sanctions Blog published the alert titled UK Office of Financial Sanctions Implementation updates oil price cap guidance and issues derivatives general licence on 6 July 2023. Read the article via the link here. Please also visit our Sanctions Blog for the most recent updates.
Bill C-47 is the Federal Budget Implementation Act – Part 1, an omnibus bill which amends existing legislation to meet the Government’s 2023 Budget objectives. Division 10 of the bill implements significant amendments to Canada’s unilateral sanctions legislation.
Canada recently committed to heightened enforcement of its export controls legislation on the heels of announcing amendments to A Guide to Canada’s Export Control List and the Export Permits Regulations.
In this video, partners Kerry Contini and Alex Lamy share their advice to companies navigating the rapidly evolving sanctions landscape. As rules become more restrictive, companies should brace themselves for increased compliance risks and routinely review their compliance programs. It is also critical to prepare for cross-border investigations that require a technical understanding of the nuanced rules and their interplay across multiple jurisdictions.
On 1 June 2023, the US Department of the Treasury’s Office of Foreign Assets Control added four entities to the Specialty Designated Nationals List under Executive Order 14098 and issued four general licenses authorizing certain transactions involving Sudan.
On 21 June 2023, Canada announced amendments to the Special Economic Measures (Haiti) Regulations in response to “gross and systematic human rights violations.” These amendments list an additional four individuals and took effect on 21 June 2023.
Baker McKenzie’s Sanctions Blog published the alert titled Blog Series: Sanctions Enforcement Around the World, the Belgian Perspective on 26 June 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 The EU’s Eleventh Sanctions Package against Russia on 26 June 2023. Read the article via the link here. Please also visit our Sanctions Blog for the most recent updates.
On 14 June 2023, the US Treasury Department’s Office of Foreign Assets Control published a Fact Sheet providing a helpful consolidated summary of the various existing exemptions, exceptions, and authorizations relating to the provision of humanitarian assistance that are available under certain US sanctions programs to respond to the COVID-19 pandemic. The Fact Sheet is informational only and does not supersede any legal obligations or create new, or modify existing, exemptions, exceptions, or authorizations.