EU has extended sanctions against Crimea and Sevastopol

22 juni 2016

On 17 June 2016, the Council extended the restrictive measures in response to the illegal annexation of Crimea and Sevastopol by Russia until 23 June 2017. These sanctions date back to 2014 and prohibit:

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B&A Law in WorldECR on the EU catch-all controls policy

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.

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United States lift arms embargo against Vietnam

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 China‘s growing influence in the region.

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Destination Iran - B&A Law in WorldECR

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.

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UN imposes new economic sanctions against North Korea

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 …

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Iranian banks reconnect to SWIFT

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 …

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Barclays Bank settles apparent Zimbabwe sanctions violations for $2.5 m

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 …

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