EU: 2024 EU Sanctions Update -- - Ownership & Control

On July 4, 2024, the General Secretariat of the Council of the EU released significant updates to the 2018 EU Best Practices for implementing restrictive measures, commonly referred to as sanctions. This update addresses critical aspects of ownership and control, streamlining EU sanctions rules and further aligning them with global standards, particularly those of the U.S. Here’s a quick guide to the most critical revisions and their implications for businesses and compliance professionals.