International
Articles
Recent UK Case Studies: The Impact of US Sanctions on the Contractual Right to Withhold Payment and Key Compliance Takeaways
December 18, 2020
By: Miranda Hearn, Hill Dickinson LLP
Disclaimer: This article does not constitute legal advice. Legal advice should be sought for each individual case taking into account its unique facts and circumstances. (more…)
Rethinking the Applicability of Secondary Sanctions: Prohibited v. Sanctionable Activity
November 20, 2020
By: Amir Fadavi Ardekani, BNP Paribas*
In recent times, the U.S. Government has not been shy about imposing sanctions on activities with no nexus to the U.S. in order to increase its global crack down. The imposition of these so-called ‘secondary sanctions’ have resulted in an even further global reach of OFAC restrictions and rules. (more…)
Bill Browder, Keynote Speaker at the Launch of ACSS’ New York City Chapter, Gives an Exclusive Interview on the Future of Global Magnitsky Laws
October 29, 2020
By: Jack Walsh, Reporter, ACSS
On October 13, 2020, ACSS launched the organization’s New York City Chapter with a virtual event hosted by Chapter Chair, Joseph Bognanno. The New York City Chapter has been created by the ACSS in order to serve, inform, and promote sanctions professionals in New York City and the surrounding Tristate area. ACSS NYC will be holding regular events centered around hot topics in the sanctions industry that impact compliance professionals. (more…)
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…)
The EU Blocking Statute: US Perspectives and Possible Outcomes for Compliance
March 25, 2020
By: Glenda Juliano*, CAMS, CSS
The U.S. withdrawal from the JCPOA and the return of sanctions has had a substantial impact on European companies that have increased their trade with Iran since 2015. Today, European businesses operating in Iran in violation of U.S. sanctions are at risk of being banned from the U.S. market.
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