On Saturday (September 30, 2023), new UK and EU trade sanctions tightening the restrictions on the import of Russian-origin iron and steel products will come into effect.
While certain measures are already in place in relation to a number of listed iron and steel products (Listed Iron and Steel Products) that are of Russian origin
Following the United Kingdom’s withdrawal from the European Union, a Trade and Cooperation Agreement between the EU and the UK1 has been concluded, providing for duty-free trade of goods originating in the EU or in the UK.2 The TCA foresees a specific set of rules of origin (ROO) for hybrid,3plug-in hybrid
After the United Kingdom imposed new restrictions on legal advisory services on 30 June 2023, it is becoming increasingly more complicated for organizations to gauge what kinds of legal advice they are able to provide with respect to Russia. As these restrictions apply to in house legal and compliance functions as well as law firms
On 9 June 2023, the UK implemented The Republic of Belarus (Sanctions) (EU Exit) (Amendment) Regulations 2023 which amends The Republic of Belarus (Sanctions) (EU Exit) Regulations 2019 (the “Belarus Regulations”). The latest approach allows the UK government to more strongly target exports from Belarus and to ramp up restrictions against Belarus to avoid any
Companies and individuals alike have struggled to keep on top of the increased sanctions risks emanating from the heightening of international tensions in recent years. Recently, two English law cases, Havila Kystruten AS and Others v. STLC Europe Twenty Three Leasing Ltd and Another [2022] EWHC 3166 (Comm) (referred to as the Havila case) and
On 21 April 2023, the UK implemented The Russia (Sanctions) (EU Exit) (Amendment) Regulations 2023 (“18th Amendment”) which amends The Russia (Sanctions) (EU Exit) Regulations 2019 (“UK Russia Regulations”). This follows from the UK Government’s announcement on 24 February 2023 to, amongst other things, expand the list of products subject to restrictions on import into the UK, supply and delivery to non-UK countries and export restrictions. The announcement can be found on Gov.uk.
This client alert sets out a brief summary of headline amendments.
G7 leaders have announced new economic commitments designed to hold Russia accountable for its war against Ukraine. We discuss these commitments and provide an overview of the latest sanctions imposed on Russia by the United States, European Union, and United Kingdom in our recent alert on reedsmith.com.
This client alert provides an update on the guidance published by the UK, EU and US on the relevant price cap for oil products of Russian origin, which apply from 5 February 2023. The alert explains the exceptions for non-Russian oil products, types of transactions and scenarios the price cap applies to, the “tier” list
In response to the on-going war in Ukraine, the UK enacted several new sanctions against Russia on July 21, 2022. These sanctions are far-reaching and will place restrictions on a variety of industries such as oil, insurance, energy, gold, and coal, as well as to the provision of professional and business services to Russia.
While
The European Union (EU) agreed the sixth package of sanctions against Russia on 31 May 2022. The sixth package includes an embargo on Russian oil and a ban on insuring ships carrying Russian oil. At this stage, the specifics of the sanctions are still being debated, but they are expected to be released later this