How Can Businesses Navigate Sanctions: A Practical Analysis of U.S. Sanctions Imposed on Venezuela
Date: November 21, 2019
Time: 10:00am EST
Moderated by: Pedro Urdaneta, Partner, LEGA (Lex Mundi member firm for Venezuela)
Registration Fee: Lex Mundi members / Non-members - No Charge.
As U.S. and international community sanctions and actions expand and become more stringent against the regime of President Nicolás Maduro and countries (including Russia and China) that continue to support him, businesses are having a harder time dealing with their Venezuelan counterparts and/or managing their local subsidiaries. Over-compliance is taking over and fear is spreading like wildfire. Should businesses dismiss Venezuela as a whole? Is over-compliance the correct strategy? Are there ways to navigate through the sanctions? How can risks be mitigated? Is a Cuba-like economic embargo in the cards?
Listen to sanctions experts from Lex Mundi member firms Steptoe & Johnson LLP (member firm for USA, District of Columbia) and LEGA (member firm for Venezuela) discuss the U.S. and international community sanctions and actions, including takeaways for foreign investors and suppliers into Venezuela. The experts will discuss real world examples of over-compliance and how certain businesses are dealing with these sanctions. The scope of the sanctions, legal risks, and actions that can be taken in response will be analyzed from a practical compliance point of view.
Edward Krauland, Partner, Steptoe & Johnson LLP (Lex Mundi member firm for USA, District of Columbia)
Edward J. Krauland represents clients on matters involving US and multilateral economic sanctions, dual use, defense and nuclear export controls, anti-money laundering (AML) compliance, anti-boycott, review of foreign investments in the United States, and government procurement regulations in the cross-border context. His practice includes counseling, compliance work, transactional advice, licensing and opinion work, internal reviews, risk assessments, disclosures, and enforcement actions. Ed, who serves as co-chair of the firm's Export Controls/Economic Sanctions/AML practices, also assists in the creation and supervision of the International Law Guides, a web-accessible compliance tool designed to provide corporate subscribers and their employees with detailed information on local anti-corruption laws around the globe.
Meredith Rathbone, Partner, Steptoe & Johnson LLP (Lex Mundi member firm for USA, District of Columbia)
Meredith Rathbone counsels clients in numerous countries on achieving their business goals while ensuring compliance with US export controls and economic sanctions laws administered by the Departments of Commerce, State, and Treasury. Meredith has assisted clients across a range of industries in navigating the requirements of the Export Administration Regulations (EAR), International Traffic in Arms Regulations (ITAR) and US sanctions laws and regulations administered by the Office of Foreign Assets Control (OFAC) and the US Department of State. Her experience includes assisting clients in resolving politically sensitive matters under the joint administration of various government agencies. Meredith is the co-chair of Steptoe's International Regulation and Compliance group and its Economic Sanctions and Export Controls practice. She serves on the firm's Executive Committee.
Gonzalo Capriles, Counsel/Consultant, LEGA (Lex Mundi member firm for Venezuela)
Gonzalo Capriles joined Hoet Pelaez Castillo & Duque in 1987, where he worked until 1990, year when he resigned in order to hold government positions. In 1994, he joined the Firm once again and he currently is the coordinator of the Economic Law department. Gonzalo is also the president of the Integration and International Trade Forum, a non-governmental organization which promotes economic integration and the introduction of Venezuela in the global economy.
Pedro Urdaneta, Partner, LEGA (Lex Mundi member firm for Venezuela)
Pedro Urdaneta is a leading Corporate/M&A lawyer in Venezuela who is recognized for his cross-border transactions work. For over 25 years, Pedro has been committed to servicing the complex needs of large multinationals, financial institutions and private equity investors doing business in Venezuela, and of Venezuelan companies and families doing business abroad. His practice focuses on corporate and financial transactions in a broad range of industry sectors, including cross-border and domestic mergers and acquisitions, investments, divestitures, joint ventures and carve-out transactions; project development and finance; corporate and asset-backed financings; and other complex matters.