20 juni 2016
The Catch-all Clause in the EU Dual-use Regulation empowers national authorities to prohibit the export of non-listed dual-use items where they believe those items might be for illicit use. In theory, a good instrument; in practice, one which is not consistently applied.
24 mei 2016
During a press conference on Monday 23 May 2016, President Obama announced that the United States' arms embargo against Vietnam is lifted with immediate effect. This is a historic step that seems to put an end to the countries long lasting enmity. Although President Obama stressed that the decision to lift the arms embargo has nothing to do with China, it is generally assumed that it is in fact influenced by the countries shared concerns about Chinas growing influence in the region.
9 maart 2016
The Iran sanctions relief has opened the Iranian business market and Iran is being presented in some quarters as a once-in-a-lifetime business opportunity. But is this truly the case and what are possible risks that go with it? WorldECR reports about this in its March edition and quotes B&A Law as one of the subject matter experts.
2 maart 2016
On 2 March 2016, the United Nations ("UN") Security Council voted unanimously to impose new economic sanctions on North Korea following nuclear tests in January and February of 2016. The Security Council adopted a draft resolution that calls for the inspection of all imports and exports into the country, banning all weapons trade and expanding the list of sanctioned persons and entities. These UN sanctions are only binding for the member states at this point. They require implementation on national or EU level
22 februari 2016
Four years after the Iranian banks were disconnected from the global transaction network, SWIFT has reconnected several Iranian banks to its system and others have applied to reconnect. According to SWIFT's Iranian country manager, Mr. Onur Ozan, "SWIFT has completed the on-boarding process for these banks and can confirm that they have now been reconnected to SWIFT. [...] We will continue to work with the remainder of the entities that have applied to rejoin SWIFT to ensure their smooth reconnection". Reconnection allows
15 februari 2016
Barclays PLC has agreed to pay approx. $2.5 million to the U.S. OFAC in order to settle claims related to the apparent violation of U.S. sanctions by processing transactions for government-backed entities in Zimbabwe. Pursuant to the OFAC settlement agreement, from July 2008 to September 2013, Barclays processed 159 transactions totaling $3,375,617 to or through financial institutions located in the United States including Barclays New York branch for or on behalf of corporate customers of Barclays Bank
14 februari 2016
The EU Council considers maintaining the restrictive measures against 32 people and 8 entities subject to asset freezing measures under Council Decision 2014/145/CFSP and in Council Regulation (EU) No 269/2014 for undermining or threatening the territorial integrity, sovereignty, or independence of Ukraine. The EU Council has published a notice to that end for the attention of those people and entities with new statements of reasons, and informing them that before they may request the new statements of reasons