On 4 May 2023, the President Biden issued Executive Order 14098 establishing a sanctions authority that authorizes the US Government to imposes sanctions on persons or entities in Sudan in connection with “the military’s seizure of power in October 2021 and the outbreak of inter-service fighting in April 2023.”
On 27 April 2023, the US Department of State designated Russia’s Federal Security Service and Iran’s Islamic Revolutionary Guard Corps Intelligence Organization pursuant to Executive Order 14078 (Bolstering Efforts to Bring Hostages and Wrongfully Detained United States Nationals Home), with the result that Iran’s Islamic Revolutionary Guard Corps Intelligence Organization has been added to the Specially Designated Nationals and Blocked Persons List.
Baker McKenzie’s Sanctions Blog published the alert titled Blog Series: Sanctions Enforcement Around the World, the Swiss Perspective on 9 May 2023. Read the article via the link here. Please also visit our Sanctions Blog for the most recent updates.
Most major companies have implemented a compliance program but often struggle with two issues: ensuring the compliance program remains effective in light of their existing and changing landscape and making it more efficient by leveraging technology. The Compliance Cockpit specifically addresses both issues.
On 12 April 2023, China’s regulators on cybersecurity and product standardization, including the Cyberspace Administration of China, Ministry of Industry and Information Technology, Ministry of Public Security, Ministry of Finance and the China National Certification and Accreditation Administration, jointly published a Circular to announce changes to the licensing regimes for network products distributed in the Chinese market.
On 2 May 2023, for the second time this year, the US and Turkish governments took joint action in imposing sanctions. Specifically, the United States and Türkiye imposed sanctions against two individuals determined to be financial facilitators of Syria-based terrorist groups Hay’at Tahrir al-Sham and Katibat al-Tawhid wal-Jihad, both of which are sanctioned by the United States and the United Nations. This follows a prior joint action in January targeting parties associated with the financial facilitation network of the Islamic State of Iraq and Syria.
Baker McKenzie’s Sanctions Blog published the alert titled United States: OFAC Reissues General License Extending Authorization Period for Transactions Related to Energy on 5 May 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 Blog Series: Sanctions Enforcement Around the World, the Ukrainian Perspective on 4 May 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 Czech Republic introduces unilateral sanctions against Russia on 3 May 2023. Read the article via the link here. Please also visit our Sanctions Blog for the most recent updates.
On 3 May 2023, Canada announced further amendments to the Special Economic Measures (Iran) Regulations in response to Iran’s “gross and systematic human rights violations in Iran and abroad.” These amendments list an additional nine individuals and one entity under Schedule 1 of the Regulations and entered into force on 28 April 2023.