Afridi & Angell and Sidley Austin LLP hosted an insightful webinar designed for business owners, investors, C-Suite executives, and legal and compliance professionals who needed to stay informed about the evolving sanctions landscape.

The discussion focused on the US and EU sanctions regimes and their impact on individuals and entities in the UAE engaged in trade and business with the US and the EU.

Speakers included Andy Shoyer, partner at Sidley; Justine Fassion, counsel at Sidley; and Charles Laubach and Shahram Safai, partners at Afridi & Angell. The discussion was moderated by Ali Shaikley, partner at Sidley, and covered the following:

– An overview and update of US and EU sanctions regimes, including their scope and applicability

– The impact of US, EU, and other unilateral sanctions on UAE entities and individuals, including the effect on banking transactions and other legal implications

– Cross-border issues related to designated persons and entities and the application of various sanctions

– Essential due diligence practices when dealing with counterparties and how US and EU authorities gather information

– Recent enforcement trends in the US and EU, including the level of cooperation from the UAE

– Penalties for non-compliance with sanctions