Sanctions Law
Embargo violations are subject to fines and penalties
Embargoes and sanctions are instruments used by policymakers to restrict freedom in foreign trade with certain countries.
Legal Basis and Important Regulations
The legal bases in sanctions law are laid down in national and international norms. In Germany, important provisions are enshrined in the Criminal Code and the Prison Act. The EU establishes legal frameworks for sanctions through regulations such as Regulation (EU) 833/2014. These regulatory frameworks define types of sanctions and legal consequences. https://www.bundeswirtschaftsministerium.de/Redaktion/DE/Dossier/sanktionen.html
We advise your company on all EU sanctions regimes as well as national implementation regulations. A focus of our advisory services is on EU sanctions regulations concerning Iran and Russia.
The Federal Office for Economic Affairs and Export Control (BAFA) is responsible in Germany as a central authority for the enforcement and monitoring of sanctions. https://www.bafa.de/DE/Home/home_node.html
Violations of sanctions law can have serious consequences. These include fines, penalties, the initiation of criminal proceedings, and the withdrawal of export licenses. Companies can also suffer significant reputational damage.
Our Services
We help you:
- sanctions have been imposed against a party
- the subject of the dispute is affected by sanctions
- parties or affiliated companies and individuals are nationals or residents of a sanctioned country
- Authorization requirements
- Export restrictions
- Customs regulations
- Import bans
Digital Law Firm for Companies & Finance
- Client meetings are also possible via video conference or phone.
- A personal appointment at the law firm is not necessary, but possible if our clients wish.
