The UK’s Foreign Secretary Dominic Raab has announced that the UK will impose ‘Magnitsky’ sanctions on authoritarian regimes that   “harass and imprison dissident journalists and campaigners […] with impunity in their own countries”. Mr Raab stated that when the UK leaves the EU and therefore has autonomy over its sanctions regime, the UK will […]

On the Nov 8, 2018 the Jersey Evening Post (https://jerseyeveningpost.com/news/2018/11/08/trump-sanctions-prompt-exit-of-russian-owned-businesses/) reported a story about Oleg Deripaska, a Russian oligarch and his company SANCTIONS imposed by the Trump administration have caused two Jersey-based businesses owned by one of Russia’s richest men to press ahead with plans to leave the Island. It went on to say “According […]

Standard Chartered is putting aside $900m (£690m) for potential fines involving investigations in Britain and the US. The money will cover separate investigations into breaches of US sanctions and foreign exchange trading issues. It also covers a £102.2m fine from the UK’s Financial Conduct Authority related to financial crime controls. The provision will be included […]

Mamancochet Mining Limited (the Claimant) v Aegis Managing Agency Limited & Others (the Defendants) is a case concerning a sanctions clause, with wording widely used in industry, within a marine cargo insurance policy. The insurers, being the defendants, sought to avoid payment, of what on the face of it was a valid claim, on grounds that payment […]

SANCTIONS imposed by the Trump administration have caused two Jersey-based businesses owned by one of Russia’s richest men to press ahead with plans to leave the Island. According to announcements from both the Hong Kong and London Stock Exchanges, Rusal – the world’s second-largest aluminium producer – and EN+ Group – a supplier of natural […]

The United States (“US”) has continued to strengthen its sanctions against Iran. This news update provides a synopsis of the latest developments, including the highlight on an ongoing push to keep channels open for humanitarian goods and services. Overview The US has imposed sanctions against Iran for a number of years under various statutes and […]

The European Union Financial Sanctions (Amendment of Information Provisions) Regulations 2017 (the regulations) came into force on 8 August. The regulations extend to independent legal professionals and other relevant businesses or professionals the requirement to inform the Office of Financial Sanctions Implementation (OFSI) of known or suspected financial sanctions breaches. (An independent legal professional is defined in […]

Messaging app has one month to comply or it will face sanctions for sharing user phone numbers and usage data for ‘business intelligence’ purposes WhatsApp has been ordered to stop sharing user data with parent company Facebook or face sanctions. The French data protection agency, Commission Nationale de l’Informatique et des Libertés (CNIL), said on Monday that WhatsApp did […]