Herbert Smiths Corporate Crime and Investigations team have published an e-bulletin summarising recent developments in the EU’s sanctions imposed against Russia. It includes points of interest arising from the recent judgment in Rosneft’s judicial review application, which concerned certain aspects of the UK’s implementation of the sanctions. The High Court has referred a number of […]

The ultimate owners of companies will have to be listed in central registers in EU countries, open both to the authorities and to people with a “legitimate interest”, such as journalists, under a Parliament/Council deal endorsed by the Economic and Monetary Affairs and Civil Liberties committees on Tuesday. The new anti-money laundering directive aims to […]

The following provides an overview of (a) yesterday’s addition of new names to the list of persons and entities subject to the asset freeze and travel ban; (b) clarification on the grandfathering of pre-existing contracts in relation to restricted tourism activities in Crimea and Sevastopol; and (c) some points of interest arising from the recent […]

Mark Carney says eurozone is caught in a debt trap and should ease hardline budget cuts just days after the Syriza election directly challenged policy. The Bank of England governor, Mark Carney, has launched a strong attack on austerity in the eurozone as he warned that he single-currency area was caught in a debt trap […]

The European Central Bank (ECB) says it will inject at least €1.1 trillion into the ailing eurozone economy. The ECB will purchase bonds worth €60bn per month until the end of September 2016 and possibly longer, in what is known as quantitative easing (QE). The ECB has also said eurozone interest rates are being held […]

Please be advised that the United Nations Security Council (‘UNSC’) has added to or amended the details of individuals and/or organisations on its sanctions lists. For the purposes of this notice there are currently no additions or amendments to the details of individuals and/or organisations on UNSC sanctions lists. This/these individuals and/or organisations are expected […]

Sanctions are prohibitive and restrictive measures directed at foreign governments and nations, individuals or groups, or non-state actors or groups. Sanctions have an impact on, among others, financial institutions and their customers through restrictions, and controls introduced on provision of goods and services and the movement of funds involving sanctioned countries, individuals and entities. Sanction […]

The EU has enacted new legislation expanding its existing sanctions against Russia. Herbert smith have published a briefing providing an overview of the new measures, namely: an expansion of the restrictions on dealing in transferable securities issued by listed Russian banks; the application of these restrictions to listed Russian companies in the military and oil […]