Restrictive measures meaning

Higher Regional Court Düsseldorf , decision of 17 June 2024, 26 W 7/24 What are the practical implications of this case? Although the Higher Regional Court Düsseldorf reaffirmed the established approach of German courts to (anti-) anti-suit injunctions, the ruling gains special significance because it addresses Russia. During the last two and a half years, the EU has introduced sweeping sanctions on Russia following Russia’s war of aggression against Ukraine. Since then, arbitration proceedings brought by EU entities against their former Russian business partners have grown significantly. To offset EU sanctions and safeguard their positions, Russian parties possess a potent tool: Articles 248.1 and 248.2 of the Arbitration Procedural Code of the Russian Federation confer a right to seek an anti-suit injunction where foreign arbitration has been commenced against a Russian respondent and either that respondent’s access, or the access to justice of persons involved, is hindered by restrictive measures at the chosen seat of arbitration. In effect, these rules enable Russian parties to unilaterally erode arbitration agreements...

Beyond the articles reported in full in the Financial Services news feed on 13 March 2024, subscribers may wish to note these further developments: ECB: The single supervisor ten years on: experience and way forward APPG Banking: Building our SME Manifesto: call to action Insurance Europe: Insurers: EU’s Package Travel Directive review must strike the right balance AFME: Buy and sell side unite on joint AFME/IA proposals for a future UK post-trade transparency model for corporate and sovereign bonds OJ: Council Implementing Regulation (EU) 2024/849 of 12 March 2024 implementing Regulation (EU) No 269/2014 concerning restrictive measures in respect of actions undermining or threatening the territorial integrity, sovereignty and independence of Ukraine OJ: Council Decision (CFSP) 2024/847 of 12 March 2024 amending Decision 2014/145/CFSP concerning restrictive measures in respect of actions undermining or threatening the territorial integrity, sovereignty and...

In this issue: Data protection Financial sanctions AML, CTF & counter-proliferation financing Other financial crime Other Risk & Compliance updates this week LexTalk®Risk & Compliance: a Lexis®Nexis community Daily and weekly news alerts New and updated content Data protection EDPB launches website auditing tool to analyse legal compliance The European Data Protection Board (EDPB) has introduced a free, open-source website auditing tool designed to assess compliance with the law. Within the tool, users can plan, conduct and review audits directly, import the audits’ results for appraisal, and create reports. It supports preparation and evaluation. Legal and technical auditors at data protection authorities, as well as controllers and processors, can use it to test their own sites. A second release is expected later in 2024. See: LNB News 30/01/2024 10. Financial sanctions Government updates Russian sanctions guidance to include Schedule 3DA The government has revised its Russian sanctions guidance to add...

Background and introduction to SEPA After the euro was introduced in 11 EU countries in 1999, it became evident that domestic and cross-border retail payment services did not deliver comparable service levels. In September 1999, the European Central Bank (ECB) issued a report on enhancing cross-border retail payment services (the ECB 1999 Report). The report recognised that cross-border credit transfers within the euro area lagged significantly behind domestic credit transfers, even though a single currency environment called for a Single European Payment Area (SEPA). To initiate the debate and send a clear signal to the banking and payment systems industry, the Eurosystem (consisting of the ECB and the national central banks of countries that had adopted the euro) set out seven objectives for the industry to meet: Improved systems/services to be in place by 1 January 2002 Place priority on cross-border credit transfers Substantially lower the price of cross-border credit transfers Ensure settlement times are comparable for domestic and cross-border payments As...

Updated November 2025 Introduction The Argentine Republic comprises 23 provinces plus a federal district—the City of Buenos Aires, the nation’s Federal Capital. Sitting on the south-eastern edge of South America, Argentina ranks eighth worldwide by land area and second in Latin America, spanning roughly 3.8 million square kilometres (about 1.5 million square miles). Its population exceeds 45 million, with around 15 million residing in Greater Buenos Aires, and an overall density close to 15 inhabitants per square kilometre. With a GDP near US$633bn, Argentina stands among Latin America’s biggest economies. Yet recurrent swings in growth and entrenched institutional constraints have hampered development. Although urban poverty has fallen compared with the prior year, it remains elevated at roughly 32% of residents, according to recent data. In December 2023 a new right-of-centre coalition assumed office, pledging a shift towards more market-friendly measures, such as easing foreign exchange controls, sharply cutting public expenditure, and pursuing other significant reforms. At the time of writing the government succeeded...

This Practice Note closely explores the function of state immunity in connection with arbitration proceedings in the Russian Federation. For a concise introductory guide to state immunity and arbitration, see Practice Note: State immunity and arbitration—general considerations. In addition, for further Practice Notes addressing state immunity across a broad range of jurisdictions worldwide (including England and Wales), please see our ‘State immunity’ subtopic: State immunity and arbitration—overview. State immunity—the Russian legal framework The Russian Federation (Russia) follows a restrictive, rather than absolute, approach to state immunity. This was not always the position. Russia’s restrictive stance on state immunity took effect on 1 January 2016, when Federal Law No 297-FZ ‘On jurisdictional immunities of foreign state and property of foreign state in the Russian Federation’ of 3 November 2015 (the Law on Immunities) entered into force. The Law on Immunities endorses the international law approach to state immunity. However, the Law on Immunities sets out several notable exceptions and waivers of immunity, which may only be applied to causes...

Stop press The Data (Use and Access) Act 2025 (Commencement No 6 and Transitional and Saving Provisions) Regulations 2026, SI 2026/82, bring the outstanding provisions of the Data (Use and Access) Act 2025 (DUAA 2025) into effect. Measures on subject access requests, legitimate interests, purpose limitation, automated decision-making, international transfers and enforcement apply from 5 February 2026, while those on penalty notices and complaints take effect on 19 June 2026. For more information, see Practice Note: Data (Use and Access) Act 2025—employment implications. This Precedent will be updated shortly to reflect these changes. [ Insert name and address of employer ] Dear [ enter name ] Draft service agreement Please find enclosed a draft agreement for your consideration. [ You will notice there are sections in square brackets where I will need your instructions, and I have included optional clauses for the company to review. ] Please contact me once you have had time to read through the draft so that I can make any...