U.S. enacts comprehensive sanctions legislation against Iran, Russia and North Korea

In reaction to recent ballistic missile and nuclear weapons tests by North Korea, the U.S. and the UN have both imposed significant new sanctions against North Korea.

On Monday 5 August, 2019, President Trump issued Executive Order 13884, effectively blocking the assets of the Government of Venezuela in the United States or in the possession and control of any United States person.

On May 8, 2019, exactly one year after President Trump announced that the United States was withdrawing from the Joint Comprehensive Plan of Action (“JCPOA”) and would re-impose the U.S. secondary sanctions against Iran, President Trump issued an Executive Order “Imposing Sanctions with Respect to the Iron, Steel, Aluminum, and Copper Sectors of Iran.”

The UK P&I Club have received the following update from Freehill, Hogan and Mahar LLP, regarding recent sanction developments.