The U.K. has decided to leave the European Union (“EU”) with a 51.9% vote to “Leave” the EU against 48.1% to “Remain”. This note briefly sets out next steps over the coming days, weeks and months and highlights some of the key issues that firms will need to address during this time.

On 31 July 2016, the European Union (“EU”) will extend its economic sanctions against Russia for another six months. The EU has renewed these sanctions every six months since they were introduced for one year in July 2014 in response to Russia’s alleged annexation of Crimea. In 2015, EU leaders publicly linked repeal of these sanctions to Russia’s implementation of the Minsk II ceasefire agreement. Despite the fact that Russia has not fully complied with that agreement, recent events across Europe suggest that this might be the last rollover of the full sanctions program. Rolling over the sanctions requires consent of all EU member states. Support for the sanctions is waning, however, in those member states most affected by Russia’s counter-sanctions on EU food exports.

Continue Reading EU Extends Sanctions Against Russia – for the Last Time?

After nearly two years of negotiations with Iran, the P5 +1 group (the five permanent members of the UN Security Council, China, France, Russia, the United Kingdom, and the United States, along with Germany) reached an agreement to provide Iran much-needed sanctions relief in exchange for Iran taking concrete steps to prove its nuclear program is solely for peaceful purposes.
Continue Reading Agreement Reached to Largely Eliminate Iranian Sanctions