International efforts to seize assets of sanctioned Russian oligarchs and dispose of them in a timely fashion continue to face obstacles. Among these assets are the TANGO and AMADEA, two superyachts that were seized in the spring of 2022. More
Trade Compliance Resource Hub
Comment and analysis by Reed Smith lawyers on the latest developments in trade, sanctions and export controls
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Shipping briefing: Drill, baby, drill? A new Venezuelan wave for the shipping industry

After many rumors of potential changes to the U.S. policy on Venezuela, on October 18, 2023 the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) issued four general licenses, representing a significant shift in its Venezuela sanctions…
Overview: U.S. eases Venezuela-related sanctions after election deal

After Venezuela’s government and its political opposition agreed on electoral guarantees for 2024 presidential elections, the Office of Foreign Assets Control (OFAC) issued four general licenses suspending select sanctions:
- General License 44 temporarily authorizes all transactions related to Venezuelan oil
…
Decarbonizing across borders: Navigating CCUS in the U.S. and the EU’s CBAM

At the forefront of addressing the global challenge of climate change is the effort to reduce carbon.
In their latest podcast, Pittsburgh’s energy transactional partner, Ryan Haddad and Brussels’ international trade and customs partner, Yves Melin explore how Carbon capture,…
UK Sanctions – What is “Control”?
The recent English Court of Appeal judgment on Mints & others v PJSC National Bank Trust & PJSC Bank Otkritie Financial Corporation [2023] EWCA Civ 1132 (“Mints”) on 6 October 2023 discussed several fundamental issues pertaining to concepts under the…
A little less conversation, more action
As we are nearing the one-year anniversary of the Russian oil price cap, this is an important reminder to operators across the industry that enforcement will be coming.…
New BIS best practice for preventing diversion to Russia: signed export control certificates

As a follow-on to last week’s quint-seal guidance, the Bureau of Industry and Security (BIS) published best practice guidance to help prevent high-priority items from being diverted to Russia. The latest guidance focuses on exports of the following high-priority…
New BIS best practice for preventing diversion to Russia: signed export control certificates

As a follow-on to last week’s quint-seal guidance, the Bureau of Industry and Security (BIS) published best practice guidance to help prevent high-priority items from being diverted to Russia. The latest guidance focuses on exports of the following high-priority…
Further UK and EU sanctions on Russian iron and steel come into effect

On Saturday (September 30, 2023), new UK and EU trade sanctions tightening the restrictions on the import of Russian-origin iron and steel products will come into effect.
While certain measures are already in place in relation to a number of…