Our sanctions and export controls expertise 2018 - Allen & Overy
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Our sanctions
and export
controls expertise
2018
allenovery.com
2 Our sanctions and export controls expertise | 2018
Sanctions
Sanctions compliance can result in the imposition of onerous of Foreign Assets Control (OFAC) and the U.S. Department of
restrictions on businesses, and violations can lead to substantial State, as well as divestment legislation in force in approximately
risks, including criminal liability, fines, penalties, loss of business, 30 U.S. states. Our team has recently been joined by Maura
reputational harm and a variety of associated costs which can be Rezendes, who prior to joining Allen & Overy acted as Section
difficult to quantify. Our team assists clients in navigating the Chief in OFAC’s Office of Enforcement.
complex and sometimes competing requirements to which they,
There are some instances where a proposed business venture or
or their investors, lenders, advisors or partners, may be subject.
activity is simply prohibited. In most cases, however, sanctions
We have a thriving practice advising corporations, financial risks can be appropriately managed. In those rare instances where
institutions and individuals on the sanctions and export controls our clients face investigation or prosecution, we have experienced
regimes of the United Nations, European Union, United States, former government litigators in the EU, Asia, the Middle East and
United Kingdom and many other jurisdictions. The core of the the U.S. who can defend them.
practice involves advising on economic and trade sanctions,
Our market leading sanctions team provides integrated
arms embargoes and anti-terrorism laws administered by the
cross-jurisdictional advice to our clients and is well versed
EU and the governments of Member States, and U.S. programs
in the most complex and sensitive transactions in the market.
administered by the U.S. Department of the Treasury’s Office
“I can’t fault them in terms of the “Allen & Overy has the advantage
quality of the end product and the of being present in a large number
turnaround times; they can react of countries, and can therefore
very quickly.” co-ordinate international issues.”
Chambers UK 2018 Chambers Global 2017
Export controls
International trade is a complex area, and the movement of goods
between jurisdictions is increasingly subject to financial and trade
“Technically on-point and extremely
restrictions imposed by the United Nations, the European Union, adept at realistically applying the
or the United States.
We provide expert advice on matters relating to trade regulation
regulatory environment to the
and export controls, guiding clients through export control and
dual-use laws. We have particular experience in conducting export
realities of businesses.”
controls due diligence reviews and investigations, product category Legal 500 UK 2017
assessments and licence requirements and applications.
© Allen & Overy LLP 20183
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 of transactional matters including the and supplier of valves and other
sensitive jurisdictions such as 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 U.S. On various sanctions and export On sanctions related matters across
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 of Mizuho is providing finance.
around co-blending of petroleum the EU’s Dual Use Regulation to
products and the treatment under Stora Enso’s product line and helping
sanctions rules of such products. 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 Russia, On potential sanctions and export A leading EU-based packaging
Iran and Sudan. Most recently we control issues associated with company, on developing an internal
prepared a detailed international particular international dealings and sanctions guidance note on
guide, covering in excess of thirty the potential applicability of the EU’s transactions concerning Russia,
jurisdictions, analysing potential Dual Use Regulation to Colfax Ukraine, Crimea and Transnistria,
sanctions restrictions and how these ESAB’s product line. together with an associated set of
may be relevant to NAB’s business. due diligence questions.
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.com4 Our sanctions and export controls expertise | 2018
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 crude
Commerzbank, Crédit Agricole Russian Sanctions to various data from Iran.
CIB, Credit Suisse, Deutsche transfer-related activities in the
Bank, GE Corporate Finance context of a proposed
Bank, HSBC, ING,
financing agreement.
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 a
such as Russian and Libya. On the sale of products into Iran UK company that had previously been
by its EU subsidiaries including subject to investigation for the alleged
negotiating a distribution agreement export of goods to Iran without the
with an Iranian counterparty requisite licenses from the UK Export
and due diligence. Control Organisation (ECO).
A consortium of lenders Yamal LNG A home and gardens consumer
In relation to various potential On sanctions issues in the context 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 debt
particular, around the latter’s restructuring negotiations.
historical and limited business
activities in a number of sanctioned
countries (including Russia, Iran,
Lebanon, Venezuela, and Syria).
© Allen & Overy LLP 20185
“First rate in terms of quality of service, speed of response,
business acumen and pure technical ability.”
Legal 500 UK 2017
A consortium of lenders A large FTSE 100 company Clients such as Shell,
On various sanctions risks, and In the retail industry on all its Koch Industries, Deutsche Bank,
contractual protections in relation to the sanctions matters, including liaising GE, Rio Tinto, Anglo American,
same, in respect of a GBP3.29 billion with the EU authorities on its behalf, Mitsubishi Corporation,
financing made to STAR Rafineri A.Ş. advising on EU and UK legislation
Novartis, W.L Gore and BAT
owned by State Oil Company of (and differing interpretations amongst On import restrictions and approvals
Azerbaijan Republic (SOCAR) and the Member States) relating to, amongst for the shipment of various
Ministry of Economic and Industry of others, Iran, Syria and Libya, and commodities globally.
Republic of Azerbaijan, for the
putting in place process procedures
ownership and operation of an oil
to minimise the risk of breaches.
refinery complex in Turkey.
A major international supplier of A global manufacturer GlaxoSmithKline
physical security products On sanctions compliance issues, On all export control and sanctions
On export control and sanctions including U.S. and EU sanctions with issues relating to its GBP1.35bn
issues, including dual-use respect to Iran, Afghanistan, Libya, sale of drinks brands Ribena and
classifications, arising out of the sale and Syria. Lucozade to Japanese consumer
of products to private entities in goods company Suntory Beverage
sanctioned countries including Iran, and Food Ltd.
Sudan and Syria.
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 and
sanctions regimes to a potential In connection with OFAC sanctions UK’s Libyan sanctions regimes to
distressed sale of a second hand civil and the exportation (direct and various of its funds, as well as on
aircraft to an Iranian counterparty. indirect) of food to Iran. 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 on
company with business in OFAC sanctions regarding Cuba.
Libya and Syria.
allenovery.com6 Our sanctions and export controls expertise | 2018
Key contacts
UK & EU
Matthew Townsend Hendrik Jan Biemond Arnondo Chakrabarti Peter Watson
Partner – London Partner – Amsterdam Partner – London Consultant – London
Tel +44 20 3088 3174 Tel +31 20 674 1465 Tel +44 20 3088 4424 Tel +44 20 3088 3776
matthew.townsend@allenovery.com hendrikjan.biemond@allenovery.com arnondo.chakrabarti@allenovery.com peter.watson@allenovery.com
Wouter Devroe Jonathan Benson Tom d’Ardenne Neyah van der Aa
Of Counsel – Brussels Senior Associate – London Senior Associate – London Senior Associate – Amsterdam
Tel +32 2 780 2916 Tel +44 20 3088 1321 Tel +44 20 3088 3534 Tel +31 20 674 1247
wouter.devroe@allenovery.com jonathan.benson@allenovery.com tom.dardenne@allenovery.com neyah.vanderaa@allenovery.com
“This is the firm for big issues that really matter;
that is what they are designed for and what they
deliver flawlessly.”
Chambers Europe 2017
© Allen & Overy LLP 20187
Russia U.S. Asia Pacific
Stephen Matthews Kenneth Rivlin Maura Rezendes Chris Burkett
Partner – Moscow Partner – New York Senior Counsel – Washington, D.C. Counsel – Bangkok
Tel +7 495 981 3862 Tel +1 212 610 6460 Tel +1 202 683 3864 Tel +6 622 637 607
stephen.matthews@allenovery.com ken.rivlin@allenovery.com maura.rezendes@allenovery.com chris.burkett@allenovery.com
allenovery.comFOR 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 44 offices worldwide. Allen & Overy LLP or an affiliated undertaking has an office in each of: Abu Dhabi Bucharest (associated office) Ho Chi Minh City Moscow Seoul Amsterdam Budapest Hong Kong Munich Shanghai Antwerp Casablanca Istanbul New York Singapore Bangkok Doha Jakarta (associated office) Paris Sydney Barcelona Dubai Johannesburg Perth Tokyo Beijing Düsseldorf London Prague Warsaw Belfast Frankfurt Luxembourg Riyadh (cooperation office) Washington, D.C. Bratislava Hamburg Madrid Rome Yangon Brussels Hanoi Milan São Paulo Allen & Overy means Allen & Overy LLP and/or its affiliated undertakings. The term partner is used to refer to a member of Allen & Overy LLP or an employee or consultant with equivalent standing and qualifications or an individual with equivalent status in one of Allen & Overy LLP’s affiliated undertakings. © Allen & Overy LLP 2018 | CS1503_CDD-41715_ADD-77600 allenovery.com
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