We present the first International Sanctions Handbook that has been ellaborated in Spain

2018-12-13 News

Operating with sanctioned countries is possible through the correct analysis and risk assessment

  • Dozens of countries are currently subject to international sanctions and some, such as Iran, Cuba, Venezuela and Russia, are subject to an extensive catalog of restrictions and sanctions


  • The authors of this handbook emphasize the ignorance currently in the business world about the scope and effects of international sanctions of the UN, the European Union and the United States on global operations

Madrid, December 13, 2018.Lupicinio International Law Firm, pioneer legal firm in international sanctions, and the Club of Exporters and Investors this morning presented the first handbook about international sanctions that has been elaborated in Spain.

The handbook, written by José Luis Iriarte, José María Viñals and Tania Esparza (three specialists in International Law with extensive experience) and coordinated by Antonio Bonet (president of the Spanish Exporters and Investors Club), gathers 49 answers on the nature and functioning of international sanctions that impose upon certain countries. In pedagogical tone and with practical sense, the handbook offers a route for companies to orientate themselves in the complex legal web, of global extension, so that they may conform to international sanctions.

Dozens of countries are currently subject to international sanctions and some, such as Iran, Cuba, Venezuela and Russia, in particular, are subject to an extensive catalog of restrictions and sanctions. The picture is complicated, in addition, with the so-called secondary sanctions and extraterritorial effects, which affect companies and citizens on a global scale.

In the handbook, the authors highlight that the traditional challenges of investment and trade – environmental challenges, regulatory or political vicissitudes – must be added today the growing challenge of international sanctions on certain countries.

The managing partner of International Operations of Lupicinio International, José María Viñals,  highlighted the general ignorance that exists in the business world about the scope and effects of international sanctions on global operations: “European companies are not only affected by the sanctions imposed by the European Union, but also by the extraterritorial effects and secondary sanctions of third countries, as is the case of the sanctions of the United States against countries in which the EU does not have sanctions, as occurs, for example, with Cuba or Iran. ”

However, José María Viñals has stressed that, through a proper analysis and a risk assessment, companies can find interesting opportunities in countries that face sanctions: “In Lupicinio International Law Firm we have been developing the practice of sanctions for many years. in countries sanctioned both from the consultative and the litigious side. The truth is that, if the investments are well structured and pass the sanctions scanner, sanctioned countries can be very interesting for our companies. ”

On the other hand, the president of the Club de Exportadores e Inversores, Antonio Bonet,  underlined the importance of the handbook of international sanctions for the Spanish foreign sector. “From the Club de Exportadores e Inversores, together with Lupicinio, we have promoted this manual so that Spanish companies can do business in sanctioned countries within the framework of legality. Our highly competitive companies do not have to give up working with attractive markets such as Iran, Cuba or Russia. ”

The event, held at the headquarters of CESCE, has also had the intervention of Ambassador Gonzalo de Salazar, advisory member for international sanctions of the Ministry of Foreign Affairs, European Union and Cooperation of Spain. Gonzalo de Salazar explained that the application of sanctions is controversial to the extent that they do not always yield the desired results and also hinder the work of the companies. However, it has highlighted its usefulness in channeling diplomatic tensions towards dialogue scenarios, as has occurred in Iran and North Korea.


International Sanctions, Arbitration, Litigation, Criminal, Competition AND MORE!

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