Duc Duong’s Post

On 27 May 2024, the Council of the EU introduced a new framework of sanctions implemented by Council Regulation concerning measures in view of the situation in Russia and Regulation 2024/1488, which enforces regulation in reaction to persistent human rights violations and internal repression in Russia. Companies and individuals must ensure compliance to avoid severe penalties. ➡️ https://ow.ly/xahy50S1Grx #EURegulation | #RussiaSanctions | #CouncilOfEU

https://lnkd.in/dGbCpkRE <<The Directive also mandates that conduct listed above (other than at points (c) and (e)) shall not constitute a criminal offence where it involves funds / economic resources, goods, services, transactions or activities of a value of less than EUR 10,000. The Directive further provides that Member States must ensure that violations of trade sanctions (as listed in point (e) above) constitute a criminal offence “also if committed with serious negligence, at least where that conduct relates to items included in the Common Military List of the European Union or to dual-use items”. This highlights the importance of transactional due diligence, as companies will not be able to hide behind wilful ignorance to defend allegations of sanctions violations.>> #EU #trade #violation #criminal #commonmilitarylist #duedilence #harmonization #law #funds #treaty #penalties #sanctions

Dorottya Tornai, Executive, Legal Trainee at the LMA, has penned an article examining the European Parliament's adoption of a Directive aimed at harmonising the enforcement of EU sanctions by establishing consistent definitions, penalties and additional measures to address legal loopholes and strengthen enforcement mechanisms.    The full article is available on the LMA website: https://lnkd.in/emkZ5Qh4   #sanctions #EU #Parliament #LMA

Council gives final approval to introduce criminal offences and penalties for EU sanctions’ violation The Council adopted a law covering EU-wide minimum rules for the prosecution of violation or circumvention of EU sanctions in member states. Certain actions will now be considered criminal offences in all member states, for example helping to bypass a travel ban, trading in sanctioned goods or performing prohibited financial activities. Inciting, aiding and abetting these offences can also be penalized. #ExportControl #TradeWar #TSECS #SanctionsUpdate #TurkishSociety #Sanctions #USA #OFAC #BIS #TradeUpdates #GlobalTrade #TradeCompliance #InternationalRelations #EconomicSanctions #TradeRegulations #TurkishExports #TradePolicy #SecurityMatters #ForeignPolicy #ComplianceNews #EconomicSecurity #CrossBorderBusiness

The Intellectual Property Office UK’s deputy director of enforcement, Miles Rees, tells WTR what a new OECD data report on counterfeit imports means for enforcement efforts. Read the full analysis here: https://lnkd.in/gbTb27PG #enforcement #litigation #anticounterfeiting #UK

BIS issued guidance on identifying transaction parties of diversion, focusing on Common High Priority Items. EU operators should take note as EU sanctions against Russia and Belarus necessitate specific compliance measures. For legal assistance, you may contact HERDEM Attorneys at Law #Russia #EUCommission #ExportControl #TradeWar #TSECS #SanctionsUpdate #TurkishSociety #Sanctions #USA #OFAC #BIS #TradeUpdates #GlobalTrade #TradeCompliance #InternationalRelations #EconomicSanctions #TradeRegulations #TurkishExports #TradePolicy

On 12 April, The EU Council approved a directive on criminalising the violation and circumvention of EU sanctions and outlining penalties. After the directive's entry into force (on the 20th day of its official publication), Member states will have 12 months to incorporate the provisions of the directive into their national legislation.   According to the directive, certain actions will now be considered criminal offences in all Member states, for example helping to bypass a travel ban, trading in sanctioned goods or performing prohibited financial activities. Member states have now an obligation to ensure that violating EU sanctions is punishable by effective and proportionate criminal penalties, which vary depending on the offence. However, intentional violation of sanctions must give rise to a prison sentence as the maximum penalty. Those who have violated EU restrictive measures may additionally be subject to fines.   Companies can also be held liable when an offence has been committed by a person with a leading position in the organisation. In such cases, sanctions may include the disqualification of business activities and the withdrawal of permits and authorisations to pursue economic activities. Join me and my colleague Julie Bastien at the Sanctions in Disputes Forum in London on 18th April to discuss this and other hot topics in EU Sanctions ThoughtLeaders4 Disputes | TL4D Chris Leese, Paul Barford Owen Dilworth https://lnkd.in/ei3XYA9t #Sanctions #Disputes #Enforcement

Proud to have collaborated with my colleagues Stephen Nattrass and Erin Brown on the Sanctions Regime Practice Note for Practical Law Global. Click below to learn more about what has been included in the Practice Note and why it is important for your business. Of course, you can always reach out to a member of our team if you have any questions. #Sanctions #LegalWriting #LegalTopics #Canada #CanadianBusiness

The trend in increasing enforcement continues, especially as authorities bolster their staff resources and legal mechanisms. One thing is clear: The UK, among others, are strengthening their ability to respond to trade violations through enhanced monitoring, detection and investigatory capabilities. Has your organisation done the same? #tradecompliance #legalliability #enforcement #exportcontrols #sanctions #customs #riskmanagement