Sanctions Update: new US guidance for overseas sanctions enforcement, the impact of the EU's "no Russia" clause for certain businesses, the EU's new liability directive and some notable sanctions de-listings and challenges
This update provides a brief summary of some notable recent developments from an international sanctions perspective. This includes the publication of a 'Tri-Seal Compliance Note' by certain government bodies in the US, emphasising the potential applicability of US sanctions to non-US persons and the corresponding risks of non-compliance, the impact of the EU's new "no Russia" law, which requires certain contractual obligations to be satisfied when exporting specific goods from the EU, and the EU's new directive imposing criminal liability on those looking to circumvent its sanctions regime.