KWM has deep expertise in U.S. and global sanctions, with teams of lawyers in key jurisdictions relevant to sanctions to serve our clients and their global operations
Our U.S. sanctions lawyers are particularly active in this practice area because the United States uses economic sanctions more than any other country to counter threats to its national security, foreign policy, or economy.
The U.S. economic sanctions system is complex and ever-changing in response to world events. The Office of Foreign Assets Control (OFAC) of the U.S. Department of the Treasury administers dozens of sanctions programs. These range from comprehensive sanctions imposed against entire countries or geographical areas, their governments, and all persons within those countries or areas to list-based sanctions identifying individual persons or organizations whose property must be blocked if it comes within the possession or control of a U.S. person and with whom U.S. persons are prohibited from engaging in transactions. Any transaction with a U.S. nexus, e.g., involving a payment in U.S. dollars, may be subject to primary U.S. sanctions, including criminal prosecution. Even where a transaction involves non-U.S. persons and takes place outside the U.S. and does not involve U.S. dollars or U.S. persons, that transaction may be subject to secondary sanctions, including designation on a sanctions list, such as the Specially Designated Nationals and Blocked Persons List (SDN List), thereby preventing U.S. persons from doing business with the listed person or organization.
The increasing complexity and ever-changing nature of sanctions regulations, combined with the aggressive approach being taken by regulators as the U.S.-China trade war continues, require a highly experienced global sanctions team with a proven track record to advise on sanctions relevant to your business. Through our offices across the globe, our teams of U.S. and international lawyers have deep experience counseling clients on U.S. and global sanctions matters involving sanctions targets in Iran, Russia, North Korea, and elsewhere. Our international team includes former prosecutors and in-house compliance counsel.
Our capabilities cover all phases and types of sanctions-related services: due diligence, transactional risk analysis, compliance and policy development and training, investigations, and defense against enforcement actions. We guide clients in their interactions with government regulators and, when necessary, zealously advocate on their behalf in enforcement actions.
Sanctions issues can arise anywhere in the world, but KWM’s global presence and deep expertise in this area can provide practical advice and solutions that allow businesses to minimize risk and focus on developing their business secure in the knowledge that they have a strong sanctions compliance program and team working on their behalf.
Representative sanctions matters
- Advised Chinese state-owned enterprise on U.S. and Chinese export controls and financial sanctions risks concerning transactions with purchasers in Iran and Pakistan
- Advised underwriters of large Chinese state-owned enterprise involved in international bond offering on U.S. and EU financial sanctions risk concerning transactions with purchasers in Iran, Russia, and Belarus
- Advised large Chinese private company of U.S. financial sanctions risk concerning its joint venture investment in Russia
- Advised Chinese state-owned bank on impact of U.S. financial sanctions on a loan agreement concerning an investment in Iran
- Advised Chinese SOE in relation to U.S. financial sanctions on representative offices established in North Korea; work included communicating with relevant regulatory authorities in the U.S.
- Advised Chinese SOE in relation to U.S. and EU/UN financial sanction against North Korea
- Advised Chinese SOE in relation to U.S. financial sanctions on construction of a power station in Cuba
- Advised Portuguese company in relation to U.S. financial sanctions on a transaction with Russian oil company
- Assisted a major telecommunications provider with its compliance with Iranian sanctions and designing a sanctions and export controls policy
- Advised global travel platform in relation to UK / U.S. financial sanctions; work included reporting to relevant enforcement authorities in the U.S., UK and Spain
- Advised brokers / trading platforms on compliance, including money laundering and Russian and Iranian financial sanctions
- Advised companies operating in the nuclear sector on compliance with Iranian financial sanctions prior to a proposed expansion of business in the Middle East
- Advised a non-U.S. bank as to whether it had violated U.S. sanctions by processing salary payments on behalf of a customer to the customer’s employees in Crimea
- Acted for a leading global financial institution following an investigation by the UK and U.S. authorities into financial sanctions in Russia, Iran, Syria, North Korea and Cuba
- Advised on numerous inquiries as to whether a contemplated transaction fall within U.S. trade and financial sanctions regimes concerning Russia, Iran, North Korea, and other sanctioned countries
