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Internasjonale sanksjoner og eksportkontroll

Cover image of article "New asset freeze guidance from the Norwegian Ministry of Foreign Affairs"
29.06.2023

New asset freeze guidance from the Norwegian Ministry of Foreign Affairs

Earlier today, the Norwegian Ministry of Foreign Affairs (the "MFA") published an updated guidance on asset freeze measures. The guidance was originally published in 2018, and today's update adds additional guidance and reflects recent developments in legislation.

Cover image of article "EU adopts 11th package of sanctions against Russia. Developments in UK sanctions against Russia and Belarus"
22.06.2023

EU adopts 11th package of sanctions against Russia. Developments in UK sanctions against Russia and Belarus

The long-awaited 11th package of sanctions against Russia over its invasion of Ukraine was announced earlier today, after EU ambassadors reached a consensus earlier this week. As expected, the package seeks to strengthen existing sanctions and crack down on circumvention.

Cover image of article "BIMCO Publishes Price Cap Clause for Charterparties"
08.06.2023

BIMCO Publishes Price Cap Clause for Charterparties

The long-anticipated BIMCO Price Cap Clause was published on 2 June 2023, in response to the price caps on Russian origin crude-oil and petroleum products introduced by G7, EU and others. In this article we take a practical first look at the clause in context.

Cover image of article "Charter payments and sanctions  – an update from the Commercial Court"
31.05.2023

Charter payments and sanctions – an update from the Commercial Court

In a summary judgment relating to a dispute arising out of the charterers’ failure to make hire payments under bareboat charterparties, the Commercial Court provides guidance on the impact of sanctions on the parties’ obligations to make payment.

Cover image of article "Russia sanctions: further US and UK designations, expansion of US authorities, UK announces ban on Russian-origin diamonds, copper, aluminium and nickel"
24.05.2023

Russia sanctions: further US and UK designations, expansion of US authorities, UK announces ban on Russian-origin diamonds, copper, aluminium and nickel

On 19 May 2023, coinciding with the first day of the G7 Summit in Hiroshima, both the US and the UK announced several new sanctions designations. In addition, the US has expanded sanctions authorities targeting certain sectors of the Russian economy and banned export of architecture and engineering services to Russia, and the UK has announced coming bans on Russian diamonds, copper, aluminium and nickel.

Cover image of article "EU adopts Moldova sanctions regime, US widens sanctions on Sudan"
16.05.2023

EU adopts Moldova sanctions regime, US widens sanctions on Sudan

In recent weeks, the EU established a new sanctions regime in response to the situation in Moldova, and the US has expanded the scope of its Sudan regime.

Cover image of article "Recent developments in UK sanctions on Russia"
05.05.2023

Recent developments in UK sanctions on Russia

In recent weeks, the UK has expanded on its existing trade restrictions on Russia, added further designations to the consolidated sanctions list, published and updated various sanctions related guidance documents, imposed trust services bans in respect of all persons already subject to asset freeze measures and published its Economic Crime Plan for 2023-2026.

Cover image of article "EU adopts tenth package of sanctions on Russia"
25.02.2023

EU adopts tenth package of sanctions on Russia

Close to midnight on Friday 24 February, the Council reached a consensus on the tenth package of sanctions on Russia. The new sanctions coincided with the commemoration of one year since the full-scale invasion and war of aggression against Ukraine.

Cover image of article "US and UK impose new sanctions on Russia"
23.02.2023

US and UK impose new sanctions on Russia

Earlier today, on 24 February 2023, one year after Russia's full scale invasion of Ukraine began, the US and the UK imposed further sanctions on Russia. As of yet, no consensus has been reached on the EU's tenth package of sanctions.

Cover image of article "Fylte Nasjonalmuseet med sanksjoner og hvitvasking på agendaen"
23.02.2023

Fylte Nasjonalmuseet med sanksjoner og hvitvasking på agendaen

Under vignetten «Nye muligheter – Norge mot 2030» arrangerer Wikborg Rein fagseminarer gjennom vårt 100-årsjubileum i 2023 der vi belyser viktige temaer for næringslivet, og staker ut kursen videre. Først ut i år var sanksjoner og hvitvasking.

Cover image of article "Agreement on price cap on Russian petroleum products"
06.02.2023

Agreement on price cap on Russian petroleum products

On 5 February 2023, the price cap policy for Russian petroleum products took effect in the G7 countries, as well as in the EU and Australia (members of the so-called Price Cap Coalition). The price caps have been set to (i) USD 45 per barrel for petroleum products traded at a discount to crude oil, and (ii) USD 100 per barrel for petroleum products traded at a premium to crude.

Cover image of article "EU adopts ninth package of sanctions on Russia, UK imposes new financial and trade sanctions on Russia, Norway implements price cap on Russian crude oil"
15.12.2022

EU adopts ninth package of sanctions on Russia, UK imposes new financial and trade sanctions on Russia, Norway implements price cap on Russian crude oil

Earlier today, the 16 December 2022, the Council of the EU adopted a new, ninth package of sanctions on Russia. The UK has also adopted new financial and trade sanctions on Russia, and Norway has implemented the price cap policy on Russian crude oil. In addition, both the UK and the US have designated additional entities and individuals.

Cover image of article "The year of sanctions – some lessons learnt"
12.12.2022

The year of sanctions – some lessons learnt

The massive and unprecedented sanctions imposed against Russia have required significant efforts to manage the risks and impact of sanctions, particularly in view of creative attempts to circumvent by some parties. In this article we explain why you should update your sanctions clause, and how to ensure that it is fit for purpose.

Cover image of article "Fire nye partnere fra 2023"
11.12.2022

Fire nye partnere fra 2023

Vi er stolte over å kunne presentere Tine Elisabeth Vigmostad, Elise Johansen, Preben Milde Thorbjørnsen og Andreas K. Lund som nye partnere i Wikborg Rein fra 1. januar 2023.

Cover image of article "European Commission announces ninth package of sanctions on Russia"
08.12.2022

European Commission announces ninth package of sanctions on Russia

On 7 December 2022, president of the European Commission Ursula von der Leyen, outlined a proposal for a ninth package of sanctions.

Cover image of article "Agreement on price cap on Russian crude oil"
04.12.2022

Agreement on price cap on Russian crude oil

Today, the fifth of December 2022, the G7 price cap policy for Russian crude oil takes effect. The price cap has been set to 60 dollars per barrel.

Cover image of article "New EU sanctions regime on Haiti and EU Council adds sanctions violations to list of 'EU crimes'"
30.11.2022

New EU sanctions regime on Haiti and EU Council adds sanctions violations to list of 'EU crimes'

On 25 November 2022, the EU introduced for the first time a sanction regime on Haiti, aimed in particular at gang leaders and their financiers held responsible for the current security and humanitarian crisis in Haiti. In addition on 28 November 2022, the EU Council adopted a decision to add the violation of restrictive measures to the list of 'EU crimes'.

Cover image of article "New Russia-related sanctions"
23.11.2022

New Russia-related sanctions

In light of Russia's escalating war against and illegal annexation of Ukraine, there have recently been developments to the Norway, UK and US sanctions regimes on Russia, as well as further sanctions designations from the EU, since our last update. In addition, G7 members have updated on the upcoming price cap exemption for the maritime transportation of Russian oil and oil products to third countries.

Cover image of article "Changes to sanctions regimes on Haiti, Nicaragua and Iran, new export controls on China, and other development"
17.11.2022

Changes to sanctions regimes on Haiti, Nicaragua and Iran, new export controls on China, and other development

Below we summarise the developments in EU, UK and US sanctions regimes that are not Russia-related.

Cover image of article "EU imposes new round of sanctions on Russia"
05.10.2022

EU imposes new round of sanctions on Russia

Earlier today, 6 October 2022, the EU adopted another package of sanctions on Russia, in the wake of escalated Russian aggression against Ukraine, and in particular the in particular the organising of the "sham referenda" and the illegal annexation of Ukrainian regions of Donetsk, Luhansk, Kherson and Zaporizhzhia.

Cover image of article "Developments in Russia-related sanctions"
04.10.2022

Developments in Russia-related sanctions

The recent weeks has seen a high level of activity from EU, US and UK sanctioning authorities, in response to escalated Russian aggression against Ukraine. In this WR Sanctions Alert, we briefly summarise some key developments.

Cover image of article "MUR Shipping v RTI: "reasonable endeavours" in the age of sanctions"
24.08.2022

MUR Shipping v RTI: "reasonable endeavours" in the age of sanctions

If a contract requires payment in a certain currency and, as a result of sanctions, payment cannot be made in that currency, does the obligation to use "reasonable endeavours" to overcome a force majeure event (such as payment issues relating to sanctions) require payment in a different currency? The English Commercial Court recently held that it does not.

Cover image of article "Norway adopts the EU's sixth sanctions package against Russia"
16.06.2022

Norway adopts the EU's sixth sanctions package against Russia

Today, on 17 June 2022, Norway adopted additional Russia related sanctions, by largely implementing sanctions equivalent to the EU's sixth sanctions package (which was adopted by the EU on 3 June 2022).

Cover image of article "The UK introduces new enforcement powers for breaches of financial sanctions"
14.06.2022

The UK introduces new enforcement powers for breaches of financial sanctions

New enforcement powers for sanctions breaches and accompanying guidance indicate a strengthening of UK sanctions enforcement going forward. Civil liability for breach of UK sanctions can as of today be imposed on a strict liability basis.

Cover image of article "Additional Russia-related sanctions from the EU, UK, US and Norway and developments in Russian countermeasures"
12.06.2022

Additional Russia-related sanctions from the EU, UK, US and Norway and developments in Russian countermeasures

Since our last update on 21 April 2022, the EU has adopted its sixth Russia related sanctions package, while Norway has aligned its sanctions regime with the EU's fifth sanctions package. Furthermore, the UK and US have introduced additional sanctions, and Russia has developed its countermeasures.

Cover image of article "Further UK and US sanctions against Russia and developments in Russian countermeasures"
23.04.2022

Further UK and US sanctions against Russia and developments in Russian countermeasures

Since our last update on 11 April 2022, the UK has introduced new sanctions, the US has designated additional individuals end entities, and Russia has announced developments to its counter-measures. Furthermore, the EU and US have introduced certain exemptions to its sanctions regimes relating to humanitarian activities.

Cover image of article "Russian countermeasures on intellectual property rights"
11.04.2022

Russian countermeasures on intellectual property rights

Russia has announced and implemented several countermeasures against so-called "unfriendly states". Some of these countermeasures involve intellectual property rights (IPR), meaning that entities of so-called "unfriendly states" now face countermeasures limiting the protection of their IPR in Russia. Entities of such states that do not anticipate continuing to do business in Russia can expect to see their intellectual property utilised in Russia without compensation.

Cover image of article "Additional US, EU and UK sanctions against Russia"
10.04.2022

Additional US, EU and UK sanctions against Russia

In view of the gravity of the Russian aggression against Ukraine, the US, the EU and the UK have adopted additional sanctions against Russia since our previous update on 5 April 2022.

Cover image of article "Increasing US, EU and UK sanctions against Russia; Norwegian alignment with EU sanctions; new Russian countermeasures"
04.04.2022

Increasing US, EU and UK sanctions against Russia; Norwegian alignment with EU sanctions; new Russian countermeasures

Since our previous update on 21 March 2022, the US and UK have implemented additional sanctions in response to Russia's continued military aggression against Ukraine, and Norway has aligned its regime with the latest EU sanctions. Russia has responded with additional countermeasures. We outline the main points of these developments below.

Cover image of article "Additional US, EU and UK sanctions against Russia, and new Norwegian sanctions"
20.03.2022

Additional US, EU and UK sanctions against Russia, and new Norwegian sanctions

Since our update on 14 March 2022, the EU, UK and US have announced additional sanctions following Russia's continued military aggression against Ukraine. In addition, Norway has implemented much of the EU sanctions imposed in the recent months.

Cover image of article "More EU, US and UK sanctions relating to Russia"
13.03.2022

More EU, US and UK sanctions relating to Russia

On 11 March 2022 the EU, US and G7 made a coordinated announcement of additional sanctions against Russia in response to Russia's military aggression against Ukraine.

Cover image of article "Further EU, UK and US sanctions relating to Russia and Belarus"
09.03.2022

Further EU, UK and US sanctions relating to Russia and Belarus

Since our previous update on 4 March 2022, the EU, UK and US have announced additional sanctions against Russia and Belarus in response to Russia's military aggression against Ukraine.

Cover image of article "Update on Russian countermeasures against so-called "unfriendly states""
08.03.2022

Update on Russian countermeasures against so-called "unfriendly states"

In the last week, Russia has announced and implemented several countermeasures against so-called "unfriendly states", i.e. states that recently have imposed sanctions against Russia in response to Russia's military aggression against Ukraine.

Cover image of article "Additional EU, UK and US sanctions relating to Russia"
03.03.2022

Additional EU, UK and US sanctions relating to Russia

In the last 48 hours, the EU, UK and US have announced additional tranches of sanctions against Russia in response to Russia's military aggression against Ukraine.

Cover image of article "Increasing EU, UK and US sanctions against Russia"
28.02.2022

Increasing EU, UK and US sanctions against Russia

Following Russia's continued military aggression towards Ukraine, the EU, UK and US have adopted new sanctions against Russia since our last WR Sanctions Alert on 25 February 2022. We have summarised the main developments below.

Cover image of article "New host of additional US, UK and EU sanctions against Russia"
24.02.2022

New host of additional US, UK and EU sanctions against Russia

In the last 48 hours, the US, UK and EU have announced a host of additional sanctions against Russia in response to its military invasion of Ukraine.

Cover image of article "New wave of US, EU and UK sanctions against Russia"
22.02.2022

New wave of US, EU and UK sanctions against Russia

Yesterday, 22 February 2022, the US, UK and EU announced a new wave of sanctions against Russia. These sanctions build on those announced on 21 February 2022 and are a response to Russia's movement of troops across the Ukrainian border.

Cover image of article "New US sanctions in response to Russian aggression. EU sanctions to come"
22.02.2022

New US sanctions in response to Russian aggression. EU sanctions to come

Earlier this month, we noted the possibility of increase in US and EU sanctions against Russia, should Russia take aggressive steps towards Ukraine. Yesterday, 21 February, Russia took steps to recognise the so-called Donetsk People’s Republic (DNR) and Luhansk People’s Republic (LNR) regions of eastern Ukraine as independent entities.

Cover image of article "Potential increase in US and EU sanctions against Russia"
31.01.2022

Potential increase in US and EU sanctions against Russia

As Russia continues its military build-up along the Ukrainian border, both the US and the EU warn of new sanctions that will be used against Russia if it takes aggressive steps. Reportedly, the US and EU are preparing a coordinated response to deter Russian military initiatives towards Ukraine, which they have stated would have "massive consequences" for Russia.

Cover image of article "New Year Update: New US restrictions on narcotics trafficking, Xinjiang and Cambodia, and expanded EU sanctions framework on Mali"
11.01.2022

New Year Update: New US restrictions on narcotics trafficking, Xinjiang and Cambodia, and expanded EU sanctions framework on Mali

During the weeks leading up to Christmas, the US adopted sanctions and other restrictions relating to narcotics trafficking, Xinjiang forced labour and Cambodia related exports and imports, whilst the EU has established an autonomous sanctions framework on Mali.

Cover image of article "US, UK, Canada and Switzerland further increase sanctions pressure on Belarus"
12.08.2021

US, UK, Canada and Switzerland further increase sanctions pressure on Belarus

On 9 August 2021, the one year anniversary of the fraudulent presidential elections in Belarus, the US, the UK and Canada all imposed new measures aimed at the Lukashenka regime. Two days later, Switzerland imposed similar measures.

Cover image of article "EU imposes sectoral sanctions on Belarus, updates on EU's Myanmar/Burma and Libya regimes Context"
24.06.2021

EU imposes sectoral sanctions on Belarus, updates on EU's Myanmar/Burma and Libya regimes Context

Over the course of an eventful week, the EU, the US, the UK and Canada increased the sanctions pressure on Belarus considerably.

Cover image of article "US makes changes to sanctions on Chinese military companies"
07.06.2021

US makes changes to sanctions on Chinese military companies

On 3 June 2021, President Biden issued a new Executive Order, making important changes to the sanctions regime aimed at companies involved with the Chinese military.

Cover image of article "UK launches new Global Anti-Corruption sanctions regime"
27.04.2021

UK launches new Global Anti-Corruption sanctions regime

On April 26, 2021, the UK launched a new sanctions regime, aimed at preventing and combatting serious corruption.

Cover image of article "US imposes new sanctions on Russia"
18.04.2021

US imposes new sanctions on Russia

On 15 April 2021, President Biden issued an Executive Order targeting a broad array of individuals and entities deemed by the US to be involved in malign activities directed by the Russian government.

Cover image of article "US launches new sanctions regime in response to Myanmar (Burmese) coup"
14.02.2021

US launches new sanctions regime in response to Myanmar (Burmese) coup

In response to the 1 February 2021 coup in Myanmar (Burma), President Biden last week issued an Executive Order imposing sanctions on the Myanmar military.

Cover image of article "The US prohibits transactions with 8 Chinese software application"
06.01.2021

The US prohibits transactions with 8 Chinese software application

On 5 January 2021, President Trump issued an "Executive Order Addressing the Threat Posed By Applications and Other Software Developed or Controlled By Chinese Companies," taking aim at makers of Chinese software applications.

Cover image of article "What you need to know about the new UK sanctions regime post-Brexit"
03.01.2021

What you need to know about the new UK sanctions regime post-Brexit

As the Brexit transition period has recently come to an end, we highlight below some key differences brought about by the UK's new sanctions regime and what you need to know about the new regime.

Cover image of article "Potential expansions of US sanctions on China, Nord Stream 2/TurkStream pipelines, and Turkey"
21.12.2020

Potential expansions of US sanctions on China, Nord Stream 2/TurkStream pipelines, and Turkey

The US Congress has passed the National Defense Authorisation Act for Fiscal Year 2021 (the "NDAA 2021"), and the annual defense spending bill is now pending President Trump's approval. Below, we briefly outline some key elements of the pending bill from a sanctions perspective.

Cover image of article "The EU's new global human rights sanctions regime"
07.12.2020

The EU's new global human rights sanctions regime

Yesterday, 7 December 2020, the EU adopted a new global human rights sanctions regime, equipping itself with a framework for targeting serious human violations and abuses.

Cover image of article "Potential EU sanctions against Turkey in response to situation in Varosha"
02.12.2020

Potential EU sanctions against Turkey in response to situation in Varosha

On 26 November 2020, the European Parliament issued a resolution on the escalating tensions in Varosha, stressing the urgent need for the resumption of talks, and calling for "tough sanctions" on Turkey.

Cover image of article "New Executive Order prohibits investments in Chinese Military Companies"
17.11.2020

New Executive Order prohibits investments in Chinese Military Companies

Amidst escalating tensions in US-China trade relations, President Trump last week issued an Executive Order ("the EO") on Addressing the Threat from Securities Investments that Finance Communist Chinese Military Companies

Cover image of article "US amends North Korean Sanctions Regulations, imposes secondary sanctions"
16.04.2020

US amends North Korean Sanctions Regulations, imposes secondary sanctions

Last week, the US Department of the Treasury's Office of Foreign Assets Control amended the North Korea Sanctions Regulations (31 CFR part 510, "the Regulations"). The revised Regulations implement the Treasury-administered provisions of the North Korea Sanctions and Policy Enhancement Act as amended by Countering America's Adversaries Through Sanctions Act and the National Defense Authorization Act for Fiscal Year 2020. The amendments include certain secondary sanctions, and took effect on 10 April 2020.

Cover image of article "US imposes secondary sanctions over Nord Stream 2"
02.01.2020

US imposes secondary sanctions over Nord Stream 2

US imposes secondary sanctions over the Nord Stream 2 pipeline in Europe, currently under construction led by Russian state company Gazprom. The intention is to stop completion of the pipeline.

Cover image of article "New US (and potential EU) sanctions on Turkey"
17.10.2019

New US (and potential EU) sanctions on Turkey

Turkey's military offensive in north-east Syria has led to new US primary and secondary sanctions from the US and announcements of potential future sanctions from the EU.

Cover image of article "Companies Transacting with Chinese Shipowners Face New Sanctions Risks"
30.09.2019

Companies Transacting with Chinese Shipowners Face New Sanctions Risks

Last week, the Trump Administration imposed sanctions against Chinese entities and individuals that it has determined have been trading in Iranian oil.

Cover image of article "OFAC announces changes in sanctions rules on Cuba"
16.09.2019

OFAC announces changes in sanctions rules on Cuba

In previous Sanctions Alerts, we have discussed the Trump administration's shift in its sanctions policy against Cuba. Last week, the Department of the Treasury's Office of Foreign Assets Control (OFAC) took additional steps intended to financially isolate the Cuban government.

Cover image of article "Update: US sanctions on Iran"
06.08.2019

Update: US sanctions on Iran

In April 2019, we informed that the US would not renew any of the Significant Reduction Exceptions ("SRE"s) that previously had authorized eight countries – including China – to purchase oil form Iran without facing risk of US sanctions.

Cover image of article "New US sanctions against Venezuelan government"
06.08.2019

New US sanctions against Venezuelan government

On 5 August 2019, President Trump expanded the existing sanctions on Venezuela by issuing Executive Order "Blocking Property of the Government of Venezuela" (the "EO").

Cover image of article "New US sanctions against Mali"
04.08.2019

New US sanctions against Mali

On 26 July 2019, President Trump issued Executive Order 13882 "Blocking Property and Suspending Entry of Certain Persons Contributing to the Situation in Mali" to address the deteriorating security situation in Mali.

Cover image of article "Update: US sanctions on Cuba"
04.08.2019

Update: US sanctions on Cuba

Multiple lawsuits filed under Libertad Act.

Cover image of article "US threatens secondary sanctions relating to Nord Stream 2"
04.08.2019

US threatens secondary sanctions relating to Nord Stream 2

US threatens secondary sanctions over the European Nord Stream 2 pipeline. Foreign parties involved in the construction could be subject to future US sanctions.

Cover image of article "Sanctions update regarding Iran"
27.06.2019

Sanctions update regarding Iran

On 24 June 2019, President Trump announced another set of sanctions targeting Iran.

Cover image of article "Iranian Metal Sanctions Update"
12.06.2019

Iranian Metal Sanctions Update

• US sanctions now prohibit Norwegian companies and banks from engaging in most transactions in Iran's metal sector. • There are fewer than 60 days left to wind down Iranian metal transactions that began before the sanctions were implemented.

Cover image of article "US warns of potential sanctions relating to INSTEX and of sanctions on Iranian oil"
10.06.2019

US warns of potential sanctions relating to INSTEX and of sanctions on Iranian oil

US warns of potential secondary sanctions on INSTEX.

Cover image of article "Significant shift in US extraterritorial sanctions against Cuba. US sanctions and EU regulations go head to head"
02.05.2019

Significant shift in US extraterritorial sanctions against Cuba. US sanctions and EU regulations go head to head

On 17 April 2019, the Trump Administration announced that US nationals will be allowed to file lawsuits against any person or company trafficking in Cuban confiscated property, before US courts. This by activating the long-suspended Title III of the Libertad Act. In his reasoning, the Secretary of State remarked that "Sadly, Cuba’s most prominent export these days is not cigars or rum; it’s oppression." The EU views the decision as contrary to international law and will, according to its High Representative, use the EU Blocking Regulation to prohibit EU persons from complying with it.

Cover image of article "US will not renew Iran oil exceptions"
24.04.2019

US will not renew Iran oil exceptions

On 22 April 2019, the US Secretary of State Mike Pompeo announced, somewhat surprisingly, that the US will not renew any of the existing Significant Reduction Exceptions ("SRE"s) that were issued for eight countries on 3 November 2018. The decision aims to "bring Iran’s oil exports to zero", according to the White House, and underscores the US determination to expand and enforce its maximum pressure against Iran.

Cover image of article "US extends sanctions on Somalia for 1 year"
16.04.2019

US extends sanctions on Somalia for 1 year

On 10 April 2019, President Trump extended the US sanctions relating to Somalia for 1 year.

Cover image of article "US prolongs sanctions on South Sudan for 1 year"
16.04.2019

US prolongs sanctions on South Sudan for 1 year

On 1 April 2019, President Trump declared that the US sanctions in relation to South Sudan will continue for 1 year.

Cover image of article "Development in US sanctions relating to Venezuela"
16.04.2019

Development in US sanctions relating to Venezuela

On 17 April 2019, OFAC designated Banco Central de Venezuela under Executive Order 13850, as amended, for operating within the Venezuelan economy. At the outset, this means that all dealings involving Banco Central de Venezuela, or entities owned 50 % or more by this bank, are prohibited if subject to US jurisdiction.

Cover image of article "EU extends sanctions regimes on Egypt and on Bosnia and Herzegovina for 1 year"
16.04.2019

EU extends sanctions regimes on Egypt and on Bosnia and Herzegovina for 1 year

The EU has extended its sanctions against Egypt for 1 year until 22 March 2020.

Cover image of article "Possible future development in EU sanctions relating to Libya"
10.04.2019

Possible future development in EU sanctions relating to Libya

On 11 April 2019, the High Representative of the EU, Federica Mogherini, made statements that, by some, have been interpreted as a possible warning of further EU sanctions relating to Libya.

Cover image of article "EU Council extends sanctions on human rights violations in Iran"
09.04.2019

EU Council extends sanctions on human rights violations in Iran

This week, the Council of the EU extended its restrictive measures responding to serious human rights violations in Iran.

Cover image of article "US considers Venezuela secondary sanctions"
02.04.2019

US considers Venezuela secondary sanctions

Previously, we have informed of developments to the US primary sanctions on Venezuela. This week, the US indicated that also secondary sanctions might be on their way.

Cover image of article "US renews legal basis for sanctions against Iran"
17.03.2019

US renews legal basis for sanctions against Iran

On 12 March 2019, the US renewed the legal basis for its sanctions against Iran.

Cover image of article "US issues updated General License 7A in relation to sanctions against Venezuela"
14.03.2019

US issues updated General License 7A in relation to sanctions against Venezuela

Last week, we informed that OFAC had issued General Licences 3D and 9C relating to certain Venezuelan bonds and Petroleos de Venezuela S.A. ("PdVSA") securities. Yesterday, OFAC issued yet another General Licence relating to US sanctions against Venezuela.

Cover image of article "Updated General Licenses in relation to the US Sanctions against Venezuela"
11.03.2019

Updated General Licenses in relation to the US Sanctions against Venezuela

Previously, the US President has issued various Executive Orders ("EO"s) to stop the human rights abuses and antidemocratic actions of the regime of Venezuelan President Nicolas Maduro. Various General Licenses, issued by OFAC, do however provide exemptions from the EO provisions in order to minimize the impact on the Venezuelan people and US interests.

Cover image of article "EU renews its Russia sectoral sanctions"
20.12.2018

EU renews its Russia sectoral sanctions

On 21 December 2018, the EU decided to extend its Russia-related sectoral sanctions and export controls for another six months, until 31 July 2019.

Cover image of article "New US sanctions against Nicaragua"
19.12.2018

New US sanctions against Nicaragua

On 20 December 2018, President Trump signed into law the Nicaragua Human Rights and Anticorruption Act of 2018. Being quite limited in scope, the Act instructs the US to oppose international loans and financial or technical assistance to the Nicaraguan government for projects in Nicaragua, unless the loans are sought for the purposes of addressing basic human needs or promoting democracy in Nicaragua.

Cover image of article "EU lifts Eritrea sanctions"
11.12.2018

EU lifts Eritrea sanctions

On the 10th of December, the EU terminated its sanctions regime against Eritrea.

Cover image of article "Norway lifts Eritrea sanctions"
23.11.2018

Norway lifts Eritrea sanctions

Earlier this month, we informed that the UN has lifted its sanctions against Eritrea after nine years as a consequence of the improved political and military situation in the country.

Cover image of article "UN lifts Eritrea sanctions"
16.11.2018

UN lifts Eritrea sanctions

On 14 November 2018, the UN Security Council adopted resolution 2444 (2018) terminating all UN restrictive measures against Eritrea with immediate effect.

Cover image of article "Guidance on drafting and interpreting contractual sanctions clauses"
31.10.2018

Guidance on drafting and interpreting contractual sanctions clauses

In this article, we discuss the first UK case dealing with the scope of a sanctions exclusion clause in the context of the re-imposed US sanctions on Iran and the EU Blocking Regulation. We also provide some pointers for in-house counsel drafting sanctions exclusion clauses.

Cover image of article "What Do President Trump's Iran Threats Mean for Norwegian Companies?"
27.05.2018

What Do President Trump's Iran Threats Mean for Norwegian Companies?

At last month's State of the Union address, President Trump called on Congress to "address the fundamental flaws in the terrible Iran nuclear deal". Trump has been attacking the deal, formally known as the Joint Comprehensive Plan of Action (the "JCPOA"), since he began campaigning for the presidency. But this latest statement, made at one of Washington's most important political events and coming on the heels of Trump's January 12 threat to withdraw from the JCPOA, suggests that the president may be closer to taking action. If Trump does decide to end US participation in the JCPOA, how will he do it? And what will this mean for Norwegian companies considering business in Iran?

Cover image of article "Should privilege against self-incrimination apply to corporate investigations?"
27.05.2018

Should privilege against self-incrimination apply to corporate investigations?

Privilege against self-incrimination is a fundamental principle that protects witnesses from revealing information which might expose them to an accusation or criminal charge. Many legal systems recognise this privilege, and in Norway the right to protect oneself against self-incrimination is a rule of law. The privilege derives both from the right to a fair hearing as defined in article 95 of Constitution and article 6(1) of the European Convention on Human Rights in addition to article 14(3)g of the United Nations Convention on Civil and Political Rights. In the US the privilege is enshrined in the Fifth Amendment to the Constitution.

Cover image of article "Considerations for Norwegian Companies after the US Withdrawal from the Iran Nuclear Deal"
24.05.2018

Considerations for Norwegian Companies after the US Withdrawal from the Iran Nuclear Deal

On May 8, President Donald Trump announced that the United States would withdraw from the Iran nuclear deal.