HFW Briefing: Turkey: EU Sanctions by Christmas?

European Union, News, Sanctions — By on November 15, 2019 at 5:05 PM

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HFW Briefing: Turkey: EU Sanctions by Christmas?

On 11 November 2019 the EU adopted the legal framework to impose asset freezing measures against certain individuals and entities in Turkey.

At this stage, while the legal framework is in place, no individuals and entities have so far been made subject to the measures, and therefore there is no legal impact on businesses’ ability to continue trading with Turkey.

Once individuals and entities are listed, this will potentially impact on businesses which trade with Turkey’s offshore, drilling and energy sectors, as well as their banks, insurers and other related businesses. These organisations need to identify their potential exposure, and also keep the situation under close review and we encourage them to contact HFW now, so that we can advise them of any material updates as soon as these occur.

Please click here to read the briefing in full.

Contact

Daniel Martin
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Paul Dean
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