Mondaq UK: International Law
On 23 December 2012 the restrictive measures against Iran contained in Council Regulation (EU) No 1263/2012 came into force.
Sanctions are a growing problem on the desk of every international trading business and bank.
The Great Lakes region has been the subject of border disputes both prior to and following the independence of East African countries during the 1960s.
In two separate rulings during the last 2 weeks, the General Court of the European Union has ruled that the Council of the EU’s designation of Bank Saderat and Bank Mellat on the EU asset freeze list should be annulled.
With the coming into force on 23 December 2012 of Council Regulation (EU) No 1263/2012 (1263/2012), the European Union has further augmented its sanctions regime in place against Iran.
On 22 December 2012, the European Council published Council Regulation (EU) No. 1263/2012.
The European Council has today announced that the European Union is to increase restrictive measures against Iran and Syria as a result of "serious and deepening concerns over Iran’s nuclear programme" and the "continued brutal repression and widespread violation of human rights by the Syrian government".
A discussion which primarily focuses on Libya highlighting opportunities in the market, key legal and regulatory frameworks, as well as practical requirements for doing business in Libya.
On 25 April the Crime and Courts Bill received Royal Assent and became the Crime and Courts Act 2013.
Equity markets continued to power ahead in March, shrugging off the latest eurozone bailout crisis and completing a strong first quarter for returns.
The Supreme Court of England and Wales, in the case of VTB Capital Plc v Nutritek International Corp rejected an appeal by VTB Capital Plc against the Orders of the Court of Appeal and the High Court dismissing their claim for US$330 million against Fried Frank client Marshall Capital and Mr. Konstantin Malofeev for want of jurisdiction on grounds of forum non conveniens.
On 31 January 2013, the Financial Restrictions (Iran) Order 2012 (the "2012 Order") (which replicated and replaced the Financial Restrictions (Iran) Order 2011) was revoked.
The difficulties of enforcing foreign judgments in Russia are well known and are a cause of great concern to both lenders and foreign investors seeking to do business in the Russian Federation or with Russian entities or individuals.
The European Union extends sanctions against Iran through Council Regulation (EU) No 1263/2012, which introduces measuressignificantly restricting trade with Iran.
The parties in this case were in dispute over the quality and fitness for purpose of a cargo of gasoil.
On 16 October 2012, the European Union ("EU") introduced further sanctions against Iran.
The US government recently put into effect important new sanctions measures concerning Iran.
Not a drop of Iranian oil or petroleum can now be brought into the EU legally.
The 1 July 2012 deadline for performing contracts relating to Iranian crude oil and petroleum products has now passed.
The US Treasury Department announced on 12 June that ING Bank, the major Netherlands bank, has agreed to pay a record USD 619 million to settle alleged violations of US sanctions.
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Mongolia is one of the fastest growing economies in the world. Its mining sector currently accounts for 89% of total exports and generates almost one-third of Government revenues.
The Supreme Court has unanimously rejected VTB Capital Plc's case that the corporate veil of their contractual counterparty could be pierced so as to render those controlling the counterparty jointly and severally liable under their contract.
On 25 April the Crime and Courts Bill received Royal Assent and became the Crime and Courts Act 2013.
Equity markets continued to power ahead in March, shrugging off the latest eurozone bailout crisis and completing a strong first quarter for returns.
Cruise ship and ferry safety has been part of the general discussion of maritime safety in recent years.
The past year has seen the continued importance and effect of arms embargoes and economic sanctions imposed by the EU, the US and the UN.
The difficulties of enforcing foreign judgments in Russia are well known and are a cause of great concern to both lenders and foreign investors seeking to do business in the Russian Federation or with Russian entities or individuals.
On 31 January 2013, the Financial Restrictions (Iran) Order 2012 (the "2012 Order") (which replicated and replaced the Financial Restrictions (Iran) Order 2011) was revoked.
Increasingly, contracting parties are including an express duty of "good faith" in their contracts.
With the coming into force on 23 December 2012 of Council Regulation (EU) No 1263/2012 (1263/2012), the European Union has further augmented its sanctions regime in place against Iran.
