Partner Giovanna Cinelli was quoted in the first of a three-part series on sanctions regimes by Hedge Fund Law Report.
Giovanna touches on the United States’ stance on sanctions versus that of the United Kingdom and European Union, noting that the latter have historically had a lighter touch. “That changed with the Russia-Ukraine situation.”
“For the first time, the U.K. and the E.U. have actually implemented sanctions that, in some areas, are even more robust than the U.S. sanctions,” said Giovanna.
“For example, in some financial and sectoral areas, such as luxury goods and energy, there are few to no general licenses that apply in the U.K. or the E.U. There’s a prohibition, and that’s it. They also have some shorter wind-down periods than the U.S.”
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