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Black Lists Countries, Legal Entities and Individuals

In order to structure a large amount of information regarding changes in the field of international trade, we suggest you to get acquainted with the article “Black Lists – Countries, Legal Entities and Individuals” written by José María García-Aranda Alvarez.

“Various international, regional and national actors have established a large body of rules, measures and so-called “black lists”, which have an important effect on transnational trade in goods and the provision of services and restrict the types of legal relations that may be established with the individuals and entities affected by these measures. These various “black lists” can therefore have a substantial effect on transnational business and should be taken into consideration by all actors in this field. Certain of these measures may have a prohibitive nature, while others may reduce the business activities of companies or individuals, as well as influence the tax burden on certain operations.”

In this article you will find information about general international framework, sanctions linked to the Ukrainian Crisis, control mechanisms of United States of America and European Union, and general overview of the most important elements on various levels.

“As demonstrated by this general overview, the complex and substantial body of rules and “black lists” that have been established on different levels can prove to be complicated to navigate through. Nevertheless, these rules can have a substantial effect on business dealings and can significantly curtail the room for maneuver of business actors. In general terms, it is important to keep in mind the different levels of regulation that can apply to a given transaction or business relation. Indeed, as demonstrated above, national measures are often complemented by international and regional instruments. Special precaution would seem to be advisable when dealing with the trade of military or related materiel, as well as with countries mentioned directly in the various bodies of rules and regulations. Furthermore, given the situation relating to measures taken following recent developments in Ukraine, it must be mentioned that business dealings with Russian or Russia-related entities and individuals may face increasing challenges on the international sphere. This field is of key importance for any business actor and it is highly recommendable to keep these different elements in mind and, if need be, seek professional advise.”

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