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Middle East

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In brief On 29 August 2020, the United Arab Emirates (UAE) Government’s Emirates New Agency (Wakalat Anba’a al Emarat, or ‘WAM’) publicly announced that H.H. Sheikh Khalifa Bin Zayed Al Nahyan, President of the UAE, issued Federal Decree Law No. 4 of 2020 (the UAE Israeli Boycott Repeal Law), abolishing Federal Decree Law No. 15 of 1972 Concerning the Arab League Boycott of Israel (the UAE Israeli Boycott Law). The UAE Israeli Boycott Repeal Law…

On 15 July 2020, the U.S. and Gulf Cooperation Council (“GCC”)-led Terrorist Financing Targeting Center (“TFTC”) designated six targets affiliated with the Islamic State of Iraq and Syria (“ISIS”), including an entity allegedly posing as a charity (and its director) based in Afghanistan that allegedly provided support to ISIS’ branch in that country, ISIS-Khorasan (“ISIS-K”). The entities that were designated are: Al Haram ExchangeTawasul CompanyAl-Khalidi ExchangeNejaat Social Welfare Organization Five of these targets (which includes…

The US Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) recently designated as Specially Designated Nationals (“SDNs”) a number of entities linked to the Iranian steel, aluminum, and iron sectors that are likely to be of particular interest for companies doing trade in or with the Middle East or financial institutions financing trade and business in the region. This post highlights OFAC’s recent action and outlines some practical considerations.On 25 June 2020, OFAC…

In the wake of the COVID-19 health crisis, working-from-home has become the new normal, however, it does present a number of practical challenges, including how to execute legally binding documents. It has long been common practice for deal documents to be signed in counterpart, on different days, by signatories in different corners of the globe, but with our freedom of movement curtailed and home printing capabilities limited, feasible options are often restricted. Electronic contract execution…