ECONOMIC SANCTIONS LAW
In the context of international relations, sanctions are fundamentally defined as attempts by states to prevent undesirable behaviors or actions, either with significant harm or at least a noticeable threat.
While these sanctions can be effective on the state level, they also have negative consequences on the civilian population of the target country.
Primary sanction methods include trade bans, cuts in technical and financial aid, suspension of certain banking transactions, account freezes, contract withdrawals, restrictions on the sale of movable and immovable property, confiscation, diplomatic restrictions, travel, and work bans, among others.
Despite economic sanctions falling under foreign legal regulations, due to the current global economic system, these regulations pose potential negative outcomes and risks for businesses and corporations, such as:
- Block and reversing money transfers
- Closing bank accounts,
- Freezing assets,
- Dealing with legal cases
- Dealing with criminal cases
- Monetary penalties
- Reputation loss
- Contract performance issues
- Customer and business loss
Given the knowledge and experience acquired during the tracking of cases in the U.S. Criminal Court and OFAC processes, we offer consultancy and support in managing these risks and tracking legal processes.
