Akin Gump Trade Lawyers Pen Risk Management Article on Trends in Sanctions
Risk Management has published “The Impact of Sanctions on Global Business,” an article written by Akin Gump international trade partner Wynn Segall, cross-border transactions partner Melissa Schwartz, senior counsel Nnedinma Ifudu Nweke and associate Dallas Woodrum. The article discusses some of the trends in sanctions being used to affect international operations and cross-border transactions of global companies.
The authors begin with a look at the growing extraterritorial application of U.S. sanctions, which they say has resulted in “increased risk for non-U.S. companies.” They then look at the compliance challenges caused by the divergence between U.S. and E.U. sanctions, with the Trump administration taking a more unilateral approach toward sanctions that has resulted in “a divergence in both the timing and substance of sanctions measures.”
Other trends identified by the authors include:
- the increased role of Congress, requiring companies to proactively consider legislative developments;
- the increased use of sectorial sanctions that are complicating compliance;
- and increased sanctions-related diligence and de-risking, which are creating new exposures.
To read the full article, please click here.