In light of expanding and changing regulation, as well as the frequent implementation of new sanctions regimes, at B2EU we have developed services to help our clients better understand how the complex systems of sanctions operate, not only in the EU but also in the UK and USA. We work closely with our partners and legal cabinets to help you navigate these procedures.
B2EU offers comprehensive guidance to help our clients to follow different sanctions regimes. By monitoring the relevant legislation and decisions, and keeping up to date with key information, we can inform our clients on: governments and entities that are imposing sanctions; those directly and indirectly affected (individuals, businesses, supply chains, etc); the legislative background of the decision, and the overall consequences and impact of such restrictions.
Our services cover compliance with:
- Sanctions in the European Union - In the EU, sanctions are a key tool of the Common Foreign and Security Policy (CFSP). EU sanctions are adopted unanimously by a Council decision in the field of the CFSP, which is binding in its entirety for all Member States. In practice, sanctions are usually first instituted by the Security Council and later adopted by the EU in the form of Council decisions and regulations.
- Sanctions in the United States - In the US, sanctions are administered by The Office of Foreign Assets Control (OFAC) of the US Department of the Treasury. Sanctions are based on US Foreign Policy and National Security goals against threats to the national security, foreign policy or economy of the United States.
- Sanctions in the United Kingdom - The Foreign and Commonwealth Office (FCO) is responsible for international sanctions negotiations and for the UK's sanctions and embargo policy. The UK Treasury Department (HMT) is the body responsible for designating financial sanctions in the UK and implementing and enforcing all UK financial sanctions.