International sanctions and export control

  • International sanctions and export control

    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.

  • International sanctions and export control

    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.

  • International sanctions and export control

    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.

  • International sanctions and export control

    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.

  • International sanctions and export control

    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.

  • International sanctions and export control

    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.

  • Sanctions

    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.

  • International sanctions and export control

    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.

  • Sanctions

    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.

  • International sanctions and export control

    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.

  • International sanctions and export control

    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.

  • International sanctions and export control

    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.

  • International sanctions and export control

    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.

  • Sanctions

    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

  • Sanctions

    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.

  • International sanctions and export control

    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.

  • International sanctions and export control

    2019

    We are launching WR Sanctions Alerts

    We aim to provide you with a quick and timely update on the latest developments in respect of EU, US, UN and Norwegian trade and economic sanctions against countries/regimes.

  • International sanctions and export control

    2019

    US renews legal basis for sanctions against Iran

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

  • International sanctions and export control

    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.

  • International sanctions and export control

    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.

  • International sanctions and export control

    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.

  • International sanctions and export control

    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.

  • International sanctions and export control

    2018

    EU lifts Eritrea sanctions

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

  • International sanctions and export control

    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.

  • International sanctions and export control

    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.

  • International sanctions and export control Compliance and crisis management

    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?

  • International sanctions and export control Compliance and crisis management

    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, otherwise known as the Joint Comprehensive Plan of Action ("JCPOA"), and re-impose the sanctions that the US had lifted under the deal. This will have important ramifications for Norwegian companies as the United States will quickly revert to the sanctions regime that existed before the JCPOA.