The new Sanctions Enforcement Landscape in 2023

What's in store for sanctions in 2023?

Fieldfisher and Kromann Reumert were delighted to co-host a webinar yesterday that uncovered what lies ahead for sanctions in 2023 with a particular focus on the UK/Nordic outlook.

Kromann Reumert attorney Kristine Hjorth, and Hans Jakob Folker, who leads the Danish corporate criminal law practice, were joined by Fieldfisher Partners Vivien Davies, Head of Sanctions, and Quinton Newcomb, Head of Commercial Crime. They discussed the emerging trends, measures and factors that we can expect to see on this year's sanctions agenda.

Watch the new Sanctions Enforcement Landscape discussion.

As we reach the one-year anniversary of the start of the war in Ukraine, the panel predicted why enforcement in 2023 will remain at the top of the global sanctions agenda.

They also warned that with increasingly turbulent market conditions, and hostile regulatory environment, clients operating out of the UK and the Nordics should prepare for a rough compliance year, and expect intense and sustained scrutiny of their compliance with sanctions.

They predicted possible pit falls as well as best practice, and addressed:

• The UK/Nordic/EU legal framework for enforcement, focusing on liability, both civil and criminal
• Enforcement parallels and the distinctions between Nordic and EU enforcement, plus international trends
• Circumvention and prevention and how clients can navigate their business relationships to ensure vigilance and compliance
• Approaches, coordination, cooperation and the priorities of the relevant enforcement authorities
• The ownership and control of international regulators, corporate structures and other countries of interest
• Criminal enforcement trends in the UK, including the impending reform of corporate criminal liability and the “failure to prevent”, model and examples of recent enforcement action coordinated with the US and EU.