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On 17 March 2011, the United Nations Security Council adopted a new resolution UNSCR 1973 (2011) concerning the situation in Libya and authorising 'all necessary measures' to protect civilians and civilian populated areas.

A recent anti-boycott investigation of the Shanghai branch of a major U.S. bank (the Bank) serves as an alert to branches and subsidiaries of U.S. companies located in China. Foreign branches of U.S. banks may be unaware that complying with boycotts that are...

On 3 March 2011, Clifford Chance published a client briefing "Sanctions affecting Libya" outlining the first regulations with sanction provisions relating to the current situation in Libya. Since then, on 17 March 2011, the United Nations Security Council...

Today, OFAC issued an advisory on the use of exchange houses and trading companies to evade US economic sanctions against Iran (the "Advisory").  The Advisory provides guidance to US financial institutions, but we believe that OFAC intends that...

On 14 December 2011, the tenth anniversary of the entry into force of specific money laundering prohibitions in the Dutch Criminal Code ("DCC") was marked. Just two weeks before the conversion to the euro a new, broadly defined offence was implemented...

Recently the Financial Action Task Force has published the report of the mutual evaluation of the Netherlands, assessing its level of compliance with the FATF requirements for anti-money laundering and combating the financing of terrorism. It describes and analyses...

The Angolan economy is heavily dependent on income generated by its oil and gas sector and, whilst the country is rebuilding its economy after years of civil war, it has limited (albeit growing) local production. The economy is therefore primarily US dollar based...

With one of the fastest growing economies and the largest population in the world, very few companies can resist the attraction of China as an investment destination. However, companies must pay special attention to the protection and enforcement regime in China...

The German Foreign Trade Act (Außenwirtschaftsgesetz) and the respective implementation regulation (Außenwirtschaftsverordnung) enable the German federal government to prohibit or restrict certain foreign investments in Germany. This form of acquisition...

The European Council announced yesterday that all economic sanctions on Myanmar would be lifted. Economic sanctions had previously been suspended in May 2012 and the suspension was due to expire on 30 April 2013. It is expected that a Regulation will be issued...