Our sanctions and export controls expertise 2021 - allenovery.com - Allen & Overy
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Our sanctions and
export controls expertise
2021
allenovery.com
Sanctions
Sanctions compliance can result in the imposition of onerous as well as divestment legislation in force in approximately
restrictions on businesses, and violations can lead to 30 U.S. states. Our team has recently been joined by Maura
substantial risks, including criminal liability, fines, penalties, Rezendes, who prior to joining Allen & Overy acted as
loss of business, reputational harm and a variety of associated Section Chief in OFAC’s Office of Enforcement.
costs which can be difficult to quantify. Our team assists
There are some instances where a proposed business
clients in navigating the complex and sometimes competing
venture or activity is simply prohibited. In most cases,
requirements to which they, or their investors, lenders,
however, sanctions risks can be appropriately managed.
advisors or partners, may be subject.
In those rare instances where our clients face investigation
We have a thriving practice advising corporations, financial or prosecution, we have experienced former government
institutions and individuals on the sanctions and export litigators in the EU, Asia, the Middle East and the U.S.
controls regimes of the United Nations, European Union, who can defend them.
United States, United Kingdom and many other jurisdictions.
Our market leading sanctions team provides integrated
The core of the practice involves advising on economic and
cross-jurisdictional advice to our clients and is well versed
trade sanctions, arms embargoes and anti-terrorism laws
in the most complex and sensitive transactions in the market.
administered by the EU and the governments of Member
States, and U.S. programs administered by the U.S.
Department of the Treasury’s Office of Foreign Assets
Control (OFAC) and the U.S. Department of State,
“Great strategic advice and “The key differentiator is their
leading transactions very well.” flexibility and adaptability to support
Chambers UK 2021 our complex and ever-changing
needs and issues. The team react
and meet any challenge we throw
at them, which is no mean feat.”
Chambers UK 2019
Export controls
International trade is a complex area, and the movement
of goods between jurisdictions is increasingly subject to
“Very good technical knowledge.”
financial and trade restrictions imposed by the United Legal 500 UK 2021
Nations, the European Union, or the United States.
We provide expert advice on matters relating to trade
regulation and export controls, guiding clients through
export control and dual-use laws. We have particular
experience in conducting export controls due diligence
reviews and investigations, product category assessments
and licence requirements and applications.
2 Our sanctions and export controls expertise | 2021
Our expertise
Highlights of our recent experience include advising:
Sage Group KCAD IMI
On a variety of sanctions and trade On sanctions advisory and A major international manufacturer
related issues covering a number transactional matters including and supplier of valves and other
of sensitive jurisdictions such as the applicability of new EU and U.S. specialist engineering technology,
Russian and Libya. sanctions targeting Russia and in relation to on-going sanctions
Russian oligarchs that have been and trade related advice.
implemented since 2014.
Puma Energy Stora Enso Mizuho
In respect of both European and On various sanctions and export On sanctions related matters across
U.S. advice on Russian and Iranian control related matters including a range of transactions in which
sanctions as well as complex rules assessing the potential applicability Mizuho is providing finance.
around co-blending of petroleum of the EU’s Dual Use Regulation
products and the treatment under to Stora Enso’s product line and
sanctions rules of such products. helping with the development of
Stora Enso’s sanctions and export
control related compliance policies
and procedures.
National Australia Bank Colfax DS Smith
On sanctions matters involving On potential sanctions and export A leading EU-based packaging
Russia, Iran and Sudan. Most control issues associated with company, on developing an internal
recently we prepared a detailed particular international dealings and sanctions guidance note on
international guide, covering in the potential applicability of the EU’s transactions concerning Russia,
excess of thirty jurisdictions, Dual Use Regulation to Colfax Ukraine, Crimea and Transnistria,
analysing potential sanctions ESAB’s product line. together with an associated set
restrictions and how these may of due diligence questions.
be relevant to NAB’s business.
Vimpelcom Raiffeisen Bank International Assa Abloy
On high-level corporate structure On the applicability of the EU’s On the management of
advice in respect of ABAC and Russian Sanctions regime to various sanctions issues and risks in
sanctions risk. proposed financings involving corporate acquisitions.
Russian oil and gas pipeline projects.
allenovery.com 3
“The quality of the work is always high, clear and to the point.”
Chambers Europe 2020
Bank of America, a large UK A major bank A major European oil producer
bank, BNP Paribas, Citibank, On the applicability of the EU’s On the potential acquisition of
Commerzbank, Crédit Russian Sanctions to various data crude from Iran.
Agricole CIB, Credit Suisse, transfer-related activities in the context
Deutsche Bank, GE Corporate of a proposed financing agreement.
Finance Bank, HSBC, ING,
J.P. Morgan, Lloyds TSB, RBS,
Société Générale, Standard
Chartered Bank, UBS
And various other lenders and
borrowers in drafting, negotiating
and assessing U.S. and EU sanctions
risks in numerous financings and
re-financings. related issues covering
A U.S.-headquartered A multinational corporate
a number of sensitive jurisdictions
manufacturing company In connection with the purchase of
such as Russian and Libya.
On the sale of products into Iran a UK company that had previously
by its EU subsidiaries including been subject to investigation for
negotiating a distribution agreement the alleged export of goods to
with an Iranian counterparty Iran without the requisite licenses
and due diligence. from the UK Export Control
Organisation (ECO).
A consortium of lenders Yamal LNG A home and gardens
In relation to various potential On sanctions issues in the context consumer products company
breaches of the sanctions provisions of shipping matters and project On U.S. compliance (anti-corruption,
within a financing agreement made financing arrangements. sanctions) matters in connection with
in favour of a Russian company its purchase of a luxury brand.
operating in Crimea.
Bencis Capital Partners B.V. An Asian corporation A Ukrainian headquartered
In relation to various sanctions issues In respect of regulations for exports steel company
associated within its acquisition of laminated aluminium coils to Iran. On various EU Russian sanctions-
of Wellinq Holding B.V. and, in related issues during on-going
particular, around the latter’s debt restructuring negotiations.
historical and limited business
activities in a number of sanctioned
countries (including Russia, Iran,
Lebanon, Venezuela, and Syria).
4 Our sanctions and export controls expertise | 2021
“Commercial and responsive.”
Legal 500 UK 2021
A consortium of lenders A large FTSE 100 company Clients such as Shell, Koch
On various sanctions risks, and In the retail industry on all its sanctions Industries, Deutsche Bank,
contractual protections in relation to the matters, including liaising with the EU GE, Rio Tinto, Anglo American,
same, in respect of a GBP3.29 billion authorities on its behalf, advising on Mitsubishi Corporation,
financing made to STAR Rafineri EU and UK legislation (and differing
Novartis, W.L Gore and BAT
A.Ş. owned by State Oil Company of interpretations amongst Member On import restrictions and approvals
Azerbaijan Republic (SOCAR) and States) relating to, amongst others, for the shipment of various
the Ministry of Economic and Industry Iran, Syria and Libya, and putting in commodities globally.
of Republic of Azerbaijan, for the
place process procedures to
ownership and operation of an
minimise the risk of breaches.
oil refinery complex in Turkey.
A major international supplier A global manufacturer A major international
of physical security products On sanctions compliance issues, healthcare business
On export control and sanctions including U.S. and EU sanctions On a range of sanctions and
issues, including dual-use with respect to Iran, Afghanistan, AML related matters concerning
classifications, arising out of the Libya, and Syria. a proposed JV investment into a
sale of products to private entities sanctions sensitive jurisdiction.
in sanctioned countries including This included extensive due diligence
Iran, Sudan and Syria. on the proposed JV partner.
A South-East Asian airline A large multinational A state investment entity
On the impact of the EU and U.S. food corporation As to the applicability of the EU
sanctions regimes to a potential In connection with OFAC sanctions and UK’s Libyan sanctions regimes
distressed sale of a second hand civil and the exportation (direct and to various of its funds, as well as
aircraft to an Iranian counterparty. indirect) of food to Iran. on various questions relating to
sanctions licensing.
A European port operator Multiple international banks An international
On compliance with U.S. and EU In connection with risks of U.S. tobacco company
sanctions and export controls sanctions for the IPO of Hong On U.S. and EU sanctions issues
targeting Russia. Kong-based telecommunications relating to operations in Syria and
company with business in on OFAC sanctions regarding Cuba.
Libya and Syria.
allenovery.com 5
Key contacts
UK & EMEA
Matthew Townsend Hendrik Jan Biemond Arnondo Chakrabarti Yacine Francis
Global Co-Head of the Partner – Amsterdam Partner – London Partner - Dubai
International Trade and Tel +31 20 674 1465 Tel +44 20 3088 4424 Tel +971 4 426 7228
Regulatory Law Group hendrikjan.biemond@allenovery.com arnondo.chakrabarti@allenovery.com yacine.francis@allenovery.com
Partner – London|Brussels
Tel +44 20 3088 3174
matthew.townsend@allenovery.com
Peter Watson Wouter Devroe Jonathan Benson Tom d’Ardenne
Consultant – London Of Counsel – Brussels Senior Associate – London Senior Associate – London
Tel +44 20 3088 3776 Tel +32 2 780 2916 Tel +44 20 3088 1321 Tel +44 20 3088 3534
peter.watson@allenovery.com wouter.devroe@allenovery.com jonathan.benson@allenovery.com tom.dardenne@allenovery.com
“Their service is exemplary. It’s a very good, high-quality
law firm and their entire team is very good to work with.”
Chambers UK 2019
Neyah van der Aa
Senior Associate – Amsterdam
Tel +31 20 674 1247
neyah.vanderaa@allenovery.com
6 Our sanctions and export controls expertise | 2021
Russia U.S.
Anton Konnov Ken Rivlin Maura Rezendes Kuang Chiang
Partner – Moscow Global Co-Head of the Partner – Washington, D.C. Associate – Washington, D.C.
Tel +7 495 725 7919 International Trade and Tel +1 202 683 3864 Tel +1 202 683 3868
anton.konnov@allenovery.com Regulatory Law Group maura.rezendes@allenovery.com kuang.chiang@allenovery.com
Partner – New York
Tel +1 212 610 6460
ken.rivlin@allenovery.com
Asia Pacific
Chris Burkett Fai Hung Cheung Jason Gray
Counsel – Bangkok Partner – Hong Kong Partner – Sydney
Tel +6 622 637 607 Tel +852 2974 7207 Tel +612 9373 7674
chris.burkett@allenovery.com fai.hung.cheung@allenovery.com jason.gray@allenovery.com
allenovery.com 7
For more information, please contact:
London New York Washington, D.C.
Allen & Overy LLP Allen & Overy LLP Allen & Overy LLP
One Bishops Square 1221 Avenue of the Americas 1101 New York Avenue, NW
London New York Washington, D.C.
E1 6AD NY 10020 20005
United Kingdom United States United States
Tel +44 20 3088 0000 Tel +1 212 610 6300 Tel +1 202 683 3800
Fax +44 20 3088 0088 Fax +1 212 610 6399 Fax +1 202 683 3999
GLOBAL PRESENCE
Allen & Overy is an international legal practice with approximately 5,500 people, including some 550 partners, working in over 40 offices worldwide.
Allen & Overy means Allen & Overy LLP and/or its affiliated undertakings. Allen & Overy LLP is a limited liability partnership registered in England and Wales
with registered number OC306763. Allen & Overy (Holdings) Limited is a limited company registered in England and Wales with registered number 07462870.
Allen & Overy LLP and Allen & Overy (Holdings) Limited are authorised and regulated by the Solicitors Regulation Authority of England and Wales.
The term partner is used to refer to a member of Allen & Overy LLP or a director of Allen & Overy (Holdings) Limited or, in either case, an employee or
consultant with equivalent standing and qualifications or an individual with equivalent status in one of Allen & Overy LLP’s affiliated undertakings.
A list of the members of Allen & Overy LLP and of the non-members who are designated as partners, and a list of the directors of Allen & Overy
(Holdings) Limited, is open to inspection at our registered office at One Bishops Square, London E1 6AD.
UK
© Allen & Overy LLP 2021. This document is for general guidance only and does not constitute advice. CS2001_CDD-58451_ADD-94256
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