GCO Blog

Here you will be able to follow all the latest GCO news and EU updates on the latest legal issues that may affect your business.

EU UPDATE: Non-US Companies Hit by US Trade Sanctions Enforcement

In the just published 2014 OFAC (*) Civil Penalties Information Chart four out of the ten companies who settled  with the US authorities since January 2014 for alleged breaches of US trade sanctions are non-US companies. Three of them are EU companies.

Whereas the number of OFAC enforcement actions per year has been declining in the last decade, the financial amounts involved per year have been rising. Even though the biggest fines or settlements have usually been with financial institutions, other sectors, and both large and small companies as well as private individuals can and do get hit by US measures.

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EU Sanctions & Export Control: GCO Contributes to ABA Handbook of Export Controls & Economic Sanctions

The American Bar Association’s Section of International Law has published a “Handbook of Export Controls & Economic Sanctions”.  The editors are Paul Lalonde (Heenan Blaikie) and Kay Georgi (Arent Fox).

Although principally focussing on the position under US and Canadian rules, John Grayston was invited to contribute a chapter on “Re-export Controls - Intersection of EU and U.S. measures”.

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