News 24 Jun. 2021
Curtis successfully defends foreign states' procedural privileges in the UK Supreme Court
more
News 23 Jun. 2021
Ibrahim Elsadig joins Curtis as Partner in Dubai
Client Alert 24 Feb. 2022
EU, UK, Japan and Australia Impose Sanctions on Russia
News 09 Aug. 2021
Curtis, Mallet-Prevost, Colt & Mosle enters into association with Chevalier Law in Singapore.
News 06 May. 2022
Curtis Advises Terna Group on the Sale of its Latin America Power Transmission Assets to CDPQ
Publications 05 May. 2022
Marie-Claire Argac, Simon Batifort, and Cyprien Mathié share highlights from “Affaires d’Etats: Practical Considerations When Defending States in International Arbitration” on Kluwer Arbitration Blog
Event 26 Apr. 2022
Claudia Frutos-Peterson Speaks at CAI Costa Rica’s 13th Congress of International Arbitration
News 21 Apr. 2022
SCOTUS Upholds U.S. Colonialism under the U.S. Constitution
Client Alert 23 Mar. 2022
The Dubai International Arbitration Centre (DIAC) has launched the DIAC Arbitration Rules 2022
Event 22 Nov. 2021
Partner Antonia Birt spoke at ADGMAC and AIAC Webinar Series: Webinar 5 - Disputes in Fintech and Complex Technology in MESEA
News 19 May. 2022
Eliot Lauer’s and Juan Perla’s Tenth Circuit Arguments Featured on Audio Arguendo Podcast
News 16 May. 2022
Curtis Files SCOTUS Amicus Brief for Ohio Justice & Policy Center in Prisoners’ Rights Case
Client Alert 21 Apr. 2022
New Laws Targeting Assets of Russian Oligarchs: The U.S. Announces Task Force KleptoCapture and the Kleptocracy Asset Recovery Rewards Program
Client Alert 19 Apr. 2022
U.S. President Biden Expands Export Controls Imposed on Russia and Belarus
Client Alert 24 Jun. 2021
Update on Virtual Notarization (Executive Order 202.7) During the COVID-19 (Coronavirus) Pandemic (Updated: June 24, 2021) — U.S. Insight
Update on Virtual Witnessing (New York Executive Order 202.14) During The COVID-19 (Coronavirus) Pandemic (Updated: June 24, 2021) — U.S. Insight
Client Alert 04 Feb. 2022
The full alert is available for download with the bibliography here.
Negotiations are underway in the U.S. Senate over legislation that would impose major sanctions on Russia. The bipartisan negotiators are working off of a draft bill authored by Senate Foreign Relations Committee Chair Bob Menendez – S.3488, the “Defending Ukraine Sovereignty Act of 2022.” While the text of the legislation is not yet final, the ranking Republican member of the Foreign Relations Committee said on February 3, 2022, before the Senate broke for the weekend, that an agreement will be reached “very soon.” The draft bill, which requires 60 votes to pass, already has 41 Democratic co-sponsors.
The original draft of S.3488 mandates major sanctions on Russia’s financial institutions and other key entities, which will be triggered if the US President determines that the Government of Russia or its proxies “is engaged in or knowingly supporting a significant escalation in hostilities” in or against Ukraine.
Key provisions of the draft legislation include that the US President “shall impose”:
In addition, the draft legislation authorizes the US President to:
The original draft bill had the support of the White House, but senators are now negotiating a “compromise” package that incorporates Republican demands to strengthen the sanctions. A spokesperson for the National Security Council said the White House has not taken a stance on the compromise legislation.
Republicans have pushed for immediate sanctions ahead of any further steps taken by Russia. Senator Menendez has proposed amendments to the draft bill that incorporate immediate sanctions, which he has resisted describing as “preemptive,” and has characterized instead as responses to actions already taken by Russia. The Biden administration does not support imposing sanctions in the absence of further triggering events.
Other points of contention are the scope of sanctions against the Nord Stream 2 pipeline and waiver authorizations for the US President.
H.R. 6470, a companion bill to S.3488, has been introduced in the House of Representatives. H.R. 6470 is on a “similar path” to S.3488, according to comments made by Speaker Nancy Pelosi at a February 3, 2022 press briefing.
“We want to be as close to the Senate Bill as possible so there’s no delay in getting something to the President’s desk,” Pelosi said.
On February 3, 2022, Congress received a classified briefing on Russia and Ukraine from top Biden administration officials, including Secretary of State Antony Blinken, Defense Secretary Lloyd Austin, Chairman of the Joint Chiefs of Staff Gen. Mark Milley and Director of National Intelligence Avril Haines. Senators involved in the bipartisan negotiations said they believe the briefing will accelerate agreement on the compromise legislation.
Attorney advertising. The material contained in this Client Alert is only a general review of the subjects covered and does not constitute legal advice. No legal or business decision should be based on its contents.
Economic Sanctions
International Trade
Jacques Semmelman
Partner
Daniel Porter
Jason D. Wright
Ana Amador
Associate
Marwa Farag
Lorena Guzmán-Díaz
New York
+1 212 696 6000
Washington, D.C.
+1 202 452 7373
Client Alert 01 Mar. 2022
EU and the UK Impose Further Sanctions on Russia
Client Alert 23 Feb. 2022
OFAC Imposes Sanctions on Russian Persons, Entities, and Vessels
Client Alert 22 Feb. 2022
President Joseph Biden Issues Executive Order Imposing U.S. Sanctions Against Russia Backed Regions in Eastern Ukraine
We use cookies on our website to enhance your browsing experience, match your interests and assess our website performance. We do not share information with any third-party for marketing purposes. Please view our privacy policy to learn more about the use of cookies on our website. By continuing to browse our website, you consent to our use of cookies.