In this recap of a recent Jones Day client-focused webinar, partners Harriet Territt, Eva Monard, Sean Boyce, and Rick van ‘t Hullenaar review 2020’s critical developments in U.S., EU and UK sanctions and export controls that directly impact EU, Middle Eastern and UK businesses operating in the global marketplace. These include:
- Expanded use of U.S. secondary sanctions and export controls;
- The emergence of global Magnitsky-style (human rights) sanctions regimes in the UK and EU;
- Increased pressure for more active enforcement of EU sanctions;
- The advent of an independent UK sanctions regime; and
- Growing divergence between U.S. and EU sanctions policies.
The panel then focuses on 2021, noting the key transitions occurring in the U.S., where a new administration will examine the mark left by the previous administration on U.S. sanctions and export control policy, and in the EU and UK, where the Brexit transition period ended last year. These transitions will have far-reaching implications for global trade.