U.S Cyber + Counterterrorism designations, UK Strategic Export Control Lists & Massive Sanctions Guidance updates + NEW Reader Series: “Unlocking UK Financial Sanctions”
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Colleagues,
This week’s edition of Export Control & Sanctions Watch highlights major developments in sanctions enforcement, trade restrictions, and shifting geopolitical regulations across the globe.
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U.S. Sanctions Updates
The U.S. DOJ has seized a $300 million yacht, while OFAC continued to target transnational criminal networks. Additionally, new cyber-related and counterterrorism designations have been issued, alongside amended General Licences and Frequently Asked Questions (FAQs). We have details.
The Center for a New American Security (CNAS) has also released 2024 U.S. sanctions statistics. How many designations do you think were made under the Biden administration? We break it all down for you in our latest edition.
UK Sanctions Expansion
The UK Government has been busy updating multiple sanctions frameworks, particularly those targeting Myanmar, Mali, and the Democratic Republic of the Congo (DRC). We provide a detailed overview, including direct links to the updates.
Next, please read our new analysis detailing the UK’s updated guidance for traders handling high-value goods, which introduces new reporting requirements. Useful read, not only for art dealers!
Additionally, the UK announced upcoming changes to its Strategic Export Control List, aligning its regulations with global arms control regimes. We’ll explain these changes in detail so that you can stay ahead of the curve.
EU Sanctions and Export Controls
Turning to Europe, the EU has amended its Türkiye sanctions list, adding new individuals and entities. Furthermore, the EU High Representative reiterated support for Ukraine during a recent U.S.-Ukraine meeting in Saudi Arabia, emphasizing that new restrictive measures against Russia may be implemented if diplomatic efforts fail. We’ll analyse the potential impact of these developments.
Added Subscriber Value: Unlocking UK Financial Sanctions
Following the success of our AML for International Trade guide, we're launching a new series: “Guide: Unlocking UK Financial Sanctions.” Over the next few weeks, we'll cover key aspects of UK financial sanctions, including impacted parties, restricted activities, reporting duties, exceptions, and compliance obligations. This guide offers expert insights to help professionals enhance their understanding and compliance with UK sanctions.
Enjoy your reading!
Arne
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If you are exporting to the EU, US, or UK and handle strategic items, dual-use goods, or military items subject to export controls, staying fully up-to-date with US, EU, and UK export control laws and regulations is crucial. We provide export control updates for the EU, UK, and US, covering key regulations such as the EU Dual-Use Regulations, the UK Export Control Order 2008, the US Export Administration Regulations (EAR), and the International Traffic in Arms Regulations (ITAR). All in one magazine - the only update you need to read.
Comprehensive Sanctions Coverage
We provide detailed updates across a wide range of sanctions topics and jurisdictions, including:
EU, UK, and US Policy & Laws
We provide updates on sanction laws, policy changes, and guidelines for the European Union, the United Kingdom, and the United States. Whether the EU is revising its unofficial sanctions guidance or the U.S. is updating EAR or USML lists, we ensure you are kept informed. We also include a link to the original update from the authorities and add an explanatory note to help you grasp the vital context.
Specific Sanctions Topics covered
We offer updates on the newest sanctions imposed by the EU, UK, and U.S. related to specific issues like human rights violations, chemical weapons, anti-corruption, counter-terrorism, drug trafficking, and cyberattacks. These sanctions are organised by "topic" and can affect individuals and entities, including businesses. You will be informed about the reasons for the sanctions and the targets involved. This is an ideal supplement to any sanctions' software you may use. You will also receive official links to the measures, enabling you to quickly access official details and saving yourself the effort of researching them yourself.
Extensive coverage of all sanctioned States.
If you are trading or potentially at risk of trading with sanctioned states, the Export Control & Sanctions Watch is an excellent supplement to any sanctions screening software you use. Reading the Export Control & Sanctions Watch provides crucial background and a thorough overview of changes to sanctions, complete with live hyperlinks and explanatory notes, so you understand who was sanctioned and why. Stay updated on the latest sanctions imposed by the EU, UK, and US affecting Russia, North Korea, Iran, Central African Republic, Myanmar, Syria, Sudan, and many others. For each, we also include a sanctions guide covering the sanctions imposed against a country by the EU, UK, and US.
What else we cover in "The Export Control & Sanctions Watch"
We also provide essential updates on the Uyghur Forced Labor Prevention Act (UFLPA) and its implications, along with comprehensive coverage of AML & Financial Crime regulations, CSDD (Corporate Sustainability Due Diligence) updates, and various Due Diligence matters. This ensures professionals stay informed on the latest developments in anti-money laundering, financial crime prevention, due diligence practices, and forced labor legislation, providing you with the knowledge needed to navigate and comply with evolving regulatory requirements.
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