Financial and trade sanctions are an increasingly common and powerful foreign policy tool. Their implementation exposes businesses and individuals to huge financial, criminal, reputational, political and regulatory risk. Our sanctions team offers an international outlook on the legal and practical implications of sanctions.
As well as advising generally on sanctions interpretation and compliance, we advise on the licensing regimes and have dealt with competent authorities in a number of jurisdictions within EU member states and offshore jurisdictions.
We have also acted for sanctioned entities and individuals in more than 20 cases challenging sanctions in national and EU courts. These cases often involve novel issues of law in a fast-moving and politically charged environment. Several are cited by others in interpreting EU sanctions regimes.
Our experience acting for those targeted by sanctions as well as businesses otherwise impacted enables us to provide our clients with a complete legal and commercial picture when interpreting a sanctions regime.
"A terrific team involved in some of the most cutting-edge work in the public law arena. The level of service rivals the magic circle city firms, and expertise in this area is second-to-none."
The Legal 500 UK 2020
UK and EU sanctions targeting Russia (2022)
As a consequence of Russia's recent illegal invasion of Ukraine, the international community has swiftly imposed wide-ranging sanctions on Russia. They are extremely complex and rapidly changing – often more than once a day. We have been advising a broad range of clients on their impact to their businesses including aviation financiers, funds and asset managers, fiduciary service providers, maritime service providers, management companies and insurers. We have also been engaged by other law firms to provide sanctions advice to their clients.
Motor racing company
Advising a motor racing company on its rights arising out of a financial institution's decision not to allow its customers (who were suppliers to the motor racing company) to receive payments from the company based on a mistaken belief that the company was associated with individuals and entities subject to OFAC asset freezes. Our representation resulted in a prompt reversal of the relevant financial institution's position with payments flowing once more.
Financial institutions
Advising our clients on the effects of the EU sanctions imposed against Russia in 2014 in relation to Ukraine.
Iranian, European and Asian banks
Advising our clients on the interpretation of EU and UK sanctions against Iran in relation to existing and proposed finance transactions, including restructuring and acceleration of loan facilities and enforcement.
US equipment finance and leasing company
Advising in respect of the sanctions related wording to be contained in various commercial contracts within certain of their joint venture arrangements.
Libya sanctions
Advising UK hedge fund and Libyan owned UK bank on complex international issues involving UN, EU, UK, Dutch, Swiss and offshore sanctions against Libya.
UK manufacturing company
Advising a UK manufacturing company on sanctions concerns raised as part of the due diligence undertaken by its proposed purchaser, a US based company.
Korean shipping company
Advised this shipping company, with operations worldwide, on the effect of US, EU and UK sanctions against Iran on chartered vessels transferred to a US controlled company as part of a multi-million dollar acquisition of a fleet of vessels.
Leading Iranian ship owner
Advising in relation to sanctions against Iran, including advising on European based finance/loan obligations, charter party and MOA obligations and shipbuilding contracts.
Iranian, European and Asian shipping companies
Advising our clients on the effect of US, EU and UK sanctions against Iran on their ongoing business operations and sanctions policies and procedures.