The U.K.'s Solicitors Regulation Authority on July 24 released a sectoral risk assessment covering anti-money laundering and terrorist financing, according to the EU Sanctions blog. The document covers sanctions risk factors and says that companies must conduct an assessment of their proliferation financing risk exposure, the blog noted. The SRA added that firms "may be of a greater risk where they have exposure to countries" that are subject to U.N. sanctions; are suspected of using or seeking to acquire nuclear, chemical, biological or radiological weapons; or share a "porous border with such countries." The document also covers observations from the agency's supervision work, higher-risk jurisdictions, external support, risks in the legal sector and risk factors.
The U.K.'s Office of Financial Sanctions Implementation on July 27 extended through Aug. 14, 2025, the General License under its Russia sanctions regime to allow payments to a sanctioned bank for making energy available for use in Mongolia. The license covers Credit Bank of Moscow, Gazprombank, Sberbank and Rosbank PJSC.
The EU General Court in a pair of July 26 orders annulled the sanctions acts listing Viktor Pshonka, a former Ukrainian prosecutor general, and his son, Artem, a former Ukrainian lawmaker, according to an unofficial translation. The elder Pshonka was originally sanctioned in 2014 for embezzling Ukrainian public funds, according to the EU Sanctions blog. The blog noted that the court said the European Council failed to show that the Pshonkas' rights to judicial protection were respected by Ukrainian authorities during criminal proceedings on which the council relied.
The Semiconductor Industry Association this week released a report on the state of the American chip industry, highlighting issues surrounding U.S. Chips Act implementation, the manufacturing industrial base, global chip demand, American technological competitiveness, geopolitical tensions impacting the industry and more.
The Office of Foreign Assets Control this week sanctioned Abdiweli Mohamed Yusuf, the head of the finance office of the Somalia-based affiliate of the Islamic State group. OFAC said Yusuf has played a “key role” in delivering foreign fighters, supplies and ammunition to the Islamic State affiliate, which “serves as a hub for disbursing funds and guidance” to other “branches and networks across the continent.”
Despite some opposition from Democrats, the House Foreign Affairs Committee this week advanced multiple bills designed to ease technology sharing restrictions within the Australia-U.K.-U.S. (AUKUS) partnership. Two bills would create new license exceptions for certain defense exports to Australia and the U.K., and another would authorize the sale of Virginia Class submarines to Australia to help the Biden administration implement AUKUS, a deal that commits the U.S. to delivering the submarines within the next decade (see 2303130035).
The Bureau of Industry and Security shouldn’t renew the one-year authorizations it gave to certain foreign chip companies as part of its Oct. 7 China chip controls unless the agency makes “significant” changes to the restrictions when it finalizes the controls in the coming months, said Derek Scissors, a China policy expert with the American Enterprise Institute. Scissors said extending the licenses beyond their October expiration would “undermine” the Biden administration’s goal of denying China advanced semiconductor technology and unfairly advantage foreign companies over U.S. firms.
Anna Dias, former partner at Gide Loyrette, has joined DLA Piper as an international trade partner in the Brussels office, the firm announced. Dias' practice will center on international trade law and EU regulatory matters with a special focus on antidumping, anti-subsidy and safeguard proceedings along with World Trade Organization rules-related advice, the firm said. She also works on EU sanctions compliance. Prior to working at Gide Loyrette, Dias worked for the Brazilian Mission to the WTO in Geneva.
A group of European countries not in the EU aligned with the bloc's recent sanctions decision concerning Libya, the European Council announced. On July 10, the council required member states to take the necessary steps to facilitate the disposal of arms and related material seized by the EUNAVFOR MED IRINI naval mission on the high seas. The council also barred vessels flying a third-country flag, bound to or from Libya, from carrying arms and other goods covered by the EU Common Military List to or from Libya. The countries of North Macedonia, Montenegro, Albania, Ukraine, Moldova, Bosnia and Herzegovina, Georgia, Liechtenstein and Norway also imposed the decision.
The U.K.'s Office of Financial Sanctions Implementation on July 26 updated its general guidance on financial sanctions to update the section on the refusal of a license. See page 37 of the guidance for the updated language.