US updates list of specially designated nationals relating to situation in Ukraine
US president Barack Obama signed an executive order (EO) on 6 March 2014, authorising targeted sanctions (namely visa restrictions and the freezing of US property and financial assets) against individuals and entities determined to be connected with the ongoing situation in Ukraine.
The EO authorises the imposition of visa restrictions on, and the freezing of the US property and financial assets of, persons the US government determines to be responsible for or complicit in undermining democratic processes and institutions in Ukraine; threatening its peace, security, stability, sovereignty and territorial integrity; and contributing to the misappropriation of its assets. The EO also explicitly targets persons who have asserted governmental authority in Crimea without the authorisation of the interim government of Ukraine and any person who has materially assisted or provided support for, or goods or services to or in support of, any activity described in the EO.
On 11 April 2014, the US Department of the Treasury’s Office of Foreign Assets Control (OFAC) updated the list of specially designated nationals (SDN). In addition, OFAC has designated one entity, Chernomorneftegaz, as an SDN…
Click on the link below to read the rest of the Allen & Overy briefing.
News from Allen & Overy
News from The Lawyer
Briefings from Allen & Overy
A new Luxembourg act on the immobilisation of bearer shares and units was published in the Luxembourg Official Gazette on 14 August 2014.
OFAC has issued revised guidance relating to the status of entities owned by individuals or entities whose interests in property are blocked under executive orders.
Analysis from The Lawyer
At the time of its launch Accutrainee was described as a revolutionary change to the training model. Has it proved to be so? Not really.
Shearman & Sterling is making its presence felt in the City, squaring up to magic circle firms and looking to muscle in on key relationships. Private equity house Bridgepoint is one outfit that has had its head turned by the US firm.