Navigating today’s complex risk picture in shipbuilding projects necessitates both contract and risk management, and an understanding of compliance risks affecting the project throughout its lifespan. In this article we will highlight the key elements for owners and other stakeholders to keep in mind.
The Norwegian Consumer Authority (Forbrukertilsynet) has closed a case against Equinor following a complaint from Greenpeace Nordic, which alleged breaches of the Transparency Act over links to Israel’s Delek Group. The Consumer Authority concluded that any alleged human rights violations related to Delek Group fell outside Equinor’s due diligence obligations under the Act and dismissed the complaint.
In this sanctions alert, we seek to summarise some recent developments relating to US and EU sanctions.
The EU today adopted the 15th package of sanctions against Russia. We include a key summary of these new measures as well as further updates on recent developments relating to Norwegian, EU, UK and US sanctions.
The Norwegian Consumer Authority has on 25 September 2024 issued what appears to be the first infringement penalty for a failure to comply with the Norwegian Transparency Act. For not responding to two information requests on time, the Authority has imposed a penalty on a retail company of 450,000 NOK.
The Norwegian Ministry of Foreign Affairs recently announced significant amendments to the Export Control Regulations and introduced a new Annex of additional controlled goods. Additionally, several EU Member States have imposed unilateral export controls, and we note that the EU Dual-Use List has recently been updated.
The current geopolitical situation leads to concerns in Norway regarding property acquisitions by buyers with associations to foreign states in strategic sensitive areas.
Fremtidens vannkraft og omgåelse av Russland-sanksjonene er blant temaene under våre arrangementer i Arendal i uke 33. Vi ser frem til panelsamtalene våre som i år vil finne sted på Clarion Hotel Tyholmen og på Torvet 3 (Advokatfirma Tofte Hald).
