In response to Russia’s continuing actions in Ukraine, the United States and other nations have implemented increased economic sanctions that significantly broaden the scope of the sanctions previously in place. In addition to the U.S. actions, Canada, the European Union and Japan have imposed similar sanctions against Russia, including asset freezes and individual designations.
Ukraine-Related Sanctions Update: OFAC Issues Sanctions Regulations; President Withdraws GSP Status for Russia
Recently, the U.S. Department of Treasury’s Office of Foreign Assets Control (OFAC) promulgated regulations which formally implement the Ukraine-related sanctions set forth in Executive Orders 13660 (“Blocking Property of Certain Persons Contributing to the Situation in Ukraine”), 13661 (“Blocking Property of Additional Persons Contributing to the Situation in Ukraine”), and 13662 (“Blocking Property of Additional Persons Contributing to the Situation in Ukraine”). OFAC has made numerous designations of entities and individuals under the executive orders, which can be reviewed here.
The new regulations, entitled the Ukraine-Related Sanctions Regulations (URSR) 31 CFR Part 589, have been published in abbreviated form in an effort to provide immediate guidance to the public. OFAC has indicated that it intends to supplement the regulations in the near future with a more comprehensive set of regulations which may include additional guidance on interpretations and definitions, as well as additional general licenses and statements of licensing policy.
U.S. Litigation Risks for UK
Aaron Mann, a TMT commercial litigation partner, recently gave a presentation in London regarding the differences between litigating commercial disputes in the U.S. versus the UK. The presentation was done in conjunction with Pinsent Masons, a global law firm with which Husch Blackwell has worked closely for a number of years. Aaron joined Pinsent Masons partners Richard Twomey (commercial litigation) and Barry Vitou (corporate criminal defense) in the presentation for Pinsent Masons’ clients.
Discovery versus disclosure, the American Rule versus the English Rule, compensatory versus punitive damages, the two systems of litigation are similar at times and worlds apart at others. This seminar gave the largely-British audience a glimpse of how commercial disputes are prosecuted in the U.S. and what that might mean for a foreign defendant who finds itself in a U.S. courtroom.
Did You Just Eat a Problem?
The Foreign Corrupt Practices Act (“FCPA”) became law in 1977, but not until the last decade have the Department of Justice (“DOJ”) and Securities and Exchange Commission (“SEC”) aggressively enforced its provisions.
Ocean Transportation Intermediaries in the Cross-Fire
Husch Blackwell partner Carlos Rodriguez‘s article, “Ocean Transportation Intermediaries in the Cross-Fire,” appeared in the New York New Jersey Foreign Freight Forwarders and Brokers Association Inc. Newsletter, Fall/Winter 2013. Carlos concentrates his practice in international and domestic transportation law. He skillfully navigates his maritime clients through the complexities of regulation and…
Proposed Steamship Alliance Could Impact Global Shipping Market
Three of the world’s largest steamship companies serving Asia, Europe and the United States have submitted an important vessel sharing agreement to the Federal Maritime Commission for approval. The net effect of this filing, if gone unchallenged, would be to provide these three carriers with anti-trust immunity for implementing certain practices normally in violation of anti-trust statutes. The Federal Maritime Commission said it would accept public comment on the “P3 Network Vessel Sharing Agreement” of Maersk, Mediterranean Shipping and CMA CGM until midnight Friday, Nov. 29. Current law provides that if the commission takes no action to seek an injunction or require additional information, the agreement will become effective 45 days after the original filing date of Oct. 24, i.e., on Dec. 8.
The International Supply Chain Going Into 2014: Insight and Oversight
The International Supply Chain Going Into 2014 seminar is focused on international trade transactions. After one afternoon of targeted training with Husch Blackwell, MIQ Logistics and JPMorgan Chase, participants will have a better understanding of the following issues that affect businesses like yours every day:
- Overview of the Supply Chain
- Payment and Banking Issues
- Review
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Should Your Company Look at Reshoring its Operations?
There was a time when the decision to offshore manufacturing operations to an emerging market was an easy business decision. However, the past decade has many companies questioning that business model. Rising labor costs, uncertain supply chains, labor unrest and the costly and lengthy delivery time for manufactured goods coming from Asia has exponentially increased the cost to offshore manufacturing.
Draft of Rules of the China Food and Drug Administration: Legislative Procedures Opened for Public Comment
On Aug 5, 2013, the China Food and Drug Administration (CFDA) opened its draft Rules of the China Food and Drug Administration Legislation Procedure (the “Draft”) for public comment. The CFDA provided one month (August 5-September 5) to submit opinions on the new rules in the Draft. The Draft states the purposes of the new Rules are to regulate legislative procedures, guarantee the quality of legislation, and improve the efficiency of the legislation.