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EU renews its economic sanctions against Russia, despite growing opposition

On 1 July 2016, the EU Council renewed the economic sanctions targeting specific sectors of the Russian economy, until 31 January 2017. The so-called “phase 3 sanctions”, which were adopted on 31 July 2014 and due to expire on 31 July 2016, specifically target Russia’s financial sector, by limiting the access to capital markets of its major financial institutions. The… Keep Reading

Do US Changes Regarding Cuba Create Opportunities for Your Business?

Given that the EU has adopted blocking legislation that makes it illegal for persons resident in the EU to refuse business opportunities based on the US embargo against Cuba, some might wonder why I am writing about the US embargo of Cuba. Well, for a change, I am writing about possible opportunities to engage US business partners in your Cuban… Keep Reading

Export controls as a toolbox for human rights policy

There is an undeniable tendency to use export control regulations for the human rights agenda of the EU and its Member States. The latter enforce their goals, not only by taking advantage of the possibilities under the current export control framework but also by reconstructing this framework towards a human security approach. The crucial question is whether this is a… Keep Reading

Brexit : what now ?

The referendum held on the 23th of June 2016 and the decision of the United Kingdom to leave the European Union will have an important impact on trade and compliance in the next few years. The European industry already dealing with complicated sanctions regimes and export controls rules will now also have to cope with relative uncertainty as regards the… Keep Reading

Be wary of facilitation by US persons following JCPOA implementation

The changes made by the United States to its sanctions against Iran on Implementation Day resulted in the lifting of most of the secondary sanctions imposed on non-US parties engaging in transactions with Iran or designated parties associated with Iran.  Implementation Day also yielded a general license that authorizes transactions by non-US subsidiaries of US persons involving Iran and the… Keep Reading

Trade controls and M&A: how to preserve the value of your transaction?

The substantial risk associated with the expansion and enhanced enforcement of trade controls has a direct impact on due diligence in cross-border M&A transactions Non-compliance by the target with international trade laws and regulations may not only have a material adverse impact on the value of the transaction, it may also trigger the vendor and even buyer’s liability, and affect… Keep Reading

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