Sanctions Top-5 for the week ending 6 August 2021

Here are five things that happened this week in the world of economic sanctions that I think you should know about.

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  1. Australia’s Minister for Foreign Affairs announced that the Australian government will amend the Autonomous Sanctions Act 2011 to authorize “targeted financial sanctions and travel bans against the perpetrators of egregious acts of international concern.” The amended regime will cover topics such as the proliferation of weapons of mass destruction and malicious cyber activity, as well as Magnitsky-style sanctions in response to gross human rights violations and serious corruption.

Comments

Apparently, China’s National People’s Congress will consider whether to incorporate elements of the PRC Anti-Foreign Sanction Law into Hong Kong’s Basic Law around 17 August. If the past week’s reporting is to be believed, it may take some time before we know exactly how the law will apply in Hong Kong. Presumably, some or all of the individuals and entities sanctioned by the PRC Ministry of Foreign Affairs will also be sanctioned in Hong Kong. Whether lawsuits under Article 12 (or a similar local provision) will be heard in Hong Kong courts remains to be seen. Unclear whether or how companies in Hong Kong will be restricted from complying with foreign sanctions.

The United States, the UK, and Canada announced a new round of coordinated Belarus-related sanctions overnight (here, here, and here), including a new US Executive Order authorizing blocking sanctions. More on that next week.

Did I miss something? Send me a message or comment on LinkedIn.

(The views expressed are my own and do not constitute legal advice. Photo from Vladislav Reshetnyak.)

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Nicholas Turner

US attorney in Hong Kong specializing in economic sanctions, financial crimes. Sign up for emails: http://eepurl.com/cVhTXf LinkedIn at: http://goo.gl/KX1jER