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DTSTAMP:20260405T155224Z
DTSTART:20250221T083000Z
DTEND:20250221T094500Z
SUMMARY:Concurrent session 6A: Trade remedies and sanctions
DESCRIPTION:Starting in 2022\, Lisa Monaco\, Deputy Attorney General\, be
 gan describing ‘sanctions’ as ‘the new FCPA’\, as a logical extension of
  the US federal government’s effort to use economic sanctions and trade 
 controls to incrementally apply pressure against foreign governmental ac
 tivity seen as adverse to the interests of the US. Since 2020\, there ha
 s been a proliferation in US measures focused on China\, including Hong 
 Kong\, in the form of primary legislation\, Presidential Executive Order
 s and the addition of specially designated nationals (SDNs) to the Offic
 e of Foreign Assets Control (OFAC) list. China has not been the only foc
 us\, though\, with sanctions issued arising out of the Russia–Ukraine wa
 r\, for example. Other countries\, including China\, view such sanctions
  as generally contrary to international law. But\, in addition\, Canada\
 , China\, the EU and the UK\, have responded by enacting their own ‘bloc
 king statutes’\, enabling domestic non-compliance with US laws and requi
 ring notification to authorities about any US sanction enforcement measu
 res (for example\, China’s 2021 Anti-Foreign Sanctions Law). China has a
 lso imposed restrictions and requirements on provision of information of
 fshore to assist foreign regulators. The result has been that everyone d
 oing\, and facilitating\, business must navigate their way through compl
 ex\, sometimes unclear and often conflicting sets of new legal requireme
 nts. All lawyers in Asia\, whatever their area of practice\, must have a
 t least a clear\, basic understanding of trade remedies and sanctions.\n
 This session will address the following questions:\n• What are the diffe
 rent forms of sanctions that have been issued and how do they work in pr
 actice? What is their scope and what are their limits?\n• What is the di
 fference between primary and secondary sanctions?\n• What has been the e
 ffect\, in practice\, of blocking statutes?\n• How do financial institut
 ions navigate the requirements and restrictions?\n• How are third-party 
 countries and businesses affected?\n• What is the potential impact on se
 curities and other markets?\n• What future developments may occur?\n
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