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International

Articles

The First Successful INSTEX Transaction Sends Medical Goods To Iran

April 10, 2020
By: Anna Sayre, Director of Content, ACSS

On March 31, 2020, France, Germany, and the U.K. confirmed concluding their first INSTEX transaction between the E.U. and Iran, by successfully exporting medical goods to the Middle Eastern country. Though the types of goods allowed under the trade mechanism remain limited, this transaction marks a significant step in allowing E.U member states to continue trade with Iran despite the re-imposition of U.S. sanctions. (more…)

The Blocking Statute – Deciphering its Provisions, How to Handle the EU/US Conflict, and Actions to Date

March 31, 2020
By: Jack Walsh, Content Writer, ACSS

A 2018 annex to the E.U. Blocking Statutehas created a formidable compliance dilemma for European companies that wish to cease business operations in Iran. Enacted to mitigate the effect of reinstated U.S. sanctions on Iran, the amended statute penalizes any E.U. companies that acquiesce to U.S. demands, placing companies in a seemingly untenable position. The challenge for compliance officers will be to navigate these contradictory demands in a world where two of the biggest players in the sanctions arena do not agree. (more…)

EU and US Lock Horns While Putting Pressure on Iran

March 17, 2020
By: Natasha Bright, Content Writer, ACSS

Both the European Union and the United States consider Iran to be a threat to the region and the world. One of the tactics that both jurisdictions take to limit Iran’s power is to isolate the country from the global economy. In 2015, Iran entered into the Joint Comprehensive Plan of Action (JCPOA), a nuclear accord whereby Iran promised to curb movement toward the development of a nuclear weapon in exchange for the easing of sanctions.

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A Tough Cop in a Bad Neighborhood: Singapore’s Sanctions Regimes, Regulatory Authorities, and Areas of Concern for International Business

March 2, 2020
By: Jack Walsh, Content Writer, ACSS

From a regulatory perspective, Singapore is an intriguing case study.  On the one hand, the country is a financial and transportation hub for a region that is rife with transnational security threats. It serves as a major commercial nexus for business originating in countries under heavy international sanctions, including Iran and North Korea.  Shipping firms, trading houses, and financial intermediaries based in Singapore have long been key conduits of sanctions-busting schemes.

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OFSI’s New Teeth: Sanctions in the Wake of ‘Brexit’ and Actions Taken by the UK Regulator (So Far)

February 27, 2020 By: Anna Sayre, CSS, Director of Content at ACSS

On January 31, 2020, the U.K. Parliament finally cut ties from the E.U. after two years of grueling debates and discussions in Brussels, signaling a chance for Britain to break away from the E.U. sanctions that it has most dutifully applied for decades. Though itis almost certain that the U.K. will continue to apply most E.U sanctions, it is also looking likely that the U.K. will instill a new sanctions regime of its own, perhaps more closely matching that of its American cousin across the pond.

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