Experience

- Baring Vostok Capital Partners in sanctions compliance aspects of the sale of its stake in Ozon, Russia’s leading e-commerce platform, and other Russian assets held by the private equity firm.
- A number of U.S. and non-U.S. clients seeking to structure transactions involving Russian sectorally sanctioned counterparties in compliance with U.S. sanctions requirements. In these cases, we have advised clients on how to structure terms so that the clients are not engaging in dealings in new debt or equity issued by the sectorally sanctioned entities; we also have considered how the so-called “50% rule” applies to JVs and other structures.
- A number of bank clients and others on implications of dealings with entities that are headed by sanctioned individuals. We have, in these instances, counseled on how to avoid direct dealings with those individuals (which would present sanctions risks) while engaging with the non-sanctioned entities that these individuals head.
- Alavi Foundation in an asset forfeiture jury trial under U.S. sanctions laws and a simultaneous bench trial for turnover of assets under the Terrorism Risk Insurance Act.
- An Indian company in the sanctions implications of its involvement with a Middle-Eastern oil company with operations in U.S. sanctioned jurisdictions.
- Siemens’ Audit Committee in a worldwide investigation into possible corrupt payments to government officials leading to an early settlement with the U.S. and German authorities.
- A leading financial institution in a Department of Justice investigation relating to alleged money laundering and Bank Secrecy Act violations.
- Bank of New York in a U.S. Department of Justice investigation into allegations of money-laundering and deficient AML controls, as well as other Bank Secrecy Act issues.
- Major institution in a New York State Department of Financial Services enforcement action regarding sanctions compliance issues.
- Multinational industrial companies in self-reporting potential violations to UK AML authorities.
- A U.S. financial services company with respect to the activities of a Chinese joint venture, including compliance with AML policies and regulations.
- Numerous clients on the interplay between U.S. and international sanctions laws, blocking statutes (such as those maintained in Canada, Mexico and the E.U.) and anti-boycott requirements.
- Numerous U.S. financial services companies in investigating and self-reporting potential sanctions violations to OFAC.
- Numerous reinsurance companies in determining whether contract payments are permissible under U.S. and EU sanctions.
- Numerous clients in drafting and updating compliance programs and training materials regarding AML and sanctions.
- Numerous clients in conducting due diligence in cross-border transactions and negotiating reps and warranties and other contract provisions regarding AML and sanctions compliance.
- Numerous exporters in compliance with U.S. and EU export controls.

CapabilitiesDebevoise’s market-leading sanctions compliance & enforcement practice helps clients identify and mitigate the compliance and business risks of U.S., UK, and E.U. trade and economic sanctions and investigate and address potential violations. The team draws on extensive experience in private and public sectors and advises companies operating in a wide range of industries and jurisdictions as well as leading financial industry associations. Our attorneys work together across offices and practice groups to support our clients’ global business operations.Our team assists clients with structuring their transactions, contracts and third-party relationships to comply with applicable sanctions/export controls laws and mitigate risks. We regularly assist clients with sanctions due diligence on a wide variety of corporate transactions and with devising and implementing compliance programs and internal controls to guard against and detect sanctions risks.If a potential sanctions issue is identified, we assist with investigation and remediation process and advise clients on their reporting obligations and exposure vis-a-vis enforcement authorities and regulators. Drawing on the vast experience of Debevoise premier investigations and white collar defense practice, the team regularly represents clients before U.S., UK, and E.U. enforcement authorities and regulators, including criminal and administrative enforcement actions and contentious regulatory examinations, as well as civil litigation.Depth and BreadthThe Debevoise team works collaboratively across offices around the world. We have leading lawyers who advise on sanctions, export controls, foreign investment and related issues in our Hong Kong, London, New York, and Washington, D.C. offices. Our practice draws on the experience of members of the firm’s Banking, Financial Institutions, Litigation and White Collar & Regulatory Defense practices. Among our sanctions specialists are alumni of the U.S. Justice and Treasury Departments. The team includes lawyers fluent in Russian, Spanish, French and Mandarin, among other languages.The depth of the practice means that we are able to build the right teams for the task at hand, from a lean partner-led team focused on a discrete issue to a large team for a highly complex and business-critical sanctions investigation or diligence matter.ExperienceRecently, Debevoise has assisted clients in:Corporate Transactions

addressing Russia-related sanctions adopted in the U.S., E.U., and UK

responding to a steady increase of U.S. sanctions and export-related restrictions targeting China

conducting due diligence on counterparties for purposes of sanctions and anti-money laundering compliance

obtaining licenses for transactions that would be otherwise restricted

Compliance

drafting, revising, and implementing sanctions compliance policies and procedures (including with respect to compliance programs that address U.S. and non-U.S. requirements)

conducting sanctions compliance assessments (including with respect to the structuring of compliance in multinational organizations)

providing sanctions training, for both front-line employees and boards of directors

Enforcement

conducting internal investigations regarding potential criminal and civil sanctions violations and other sanctions compliance issues

responding to regulatory and law enforcement inquiries regarding U.S., UK, and E.U. sanctions matters

representing clients in enforcement matters brought by the U.S. Justice Department, the U.S. Treasury Department’s Office of Foreign Assets Control (“OFAC”), the UK Office of Financial Sanctions Implementation (“OFSI”), U.S. federal banking regulators, and the New York Department of Financial Services, among others

advising clients in the context of voluntary self-disclosures before OFAC and OFSI

International Sanctions Compliance & Enforcement

Experience