On September 15, 2022, President Biden issued an Executive Order that provides direction to the Committee on Foreign Investment in the United States (“CFIUS”) regarding some of the factors it should consider when evaluating the national security risks posed by transactions within the jurisdiction of CFIUS.[1] Although, in many ways, the Executive Order simply codifies the priorities and areas of interest on which people familiar with CFIUS understand CFIUS is focused, the Executive Order puts market participants on clear notice that CFIUS will scrutinize transactions that implicate such priorities and areas of interest.
Continue Reading President Biden Issues CFIUS-Related Executive Order Regarding Evolving National Security Landscape
September 2022
U.S. Treasury Department Issues Preliminary Guidance on Russian Oil Price Cap and Services Ban
By Chase D. Kaniecki & Samuel H. Chang on
On September 9, 2022, the U.S. Department of the Treasury issued preliminary guidance (Preliminary Guidance) providing the initial outline of a long-anticipated price cap on Russian-origin crude oil and petroleum products (Price Cap), taking effect December 5, 2022 and February 5, 2023, respectively.[1] The Price Cap is expected to be implemented by “a coalition of countries including the G7 and the EU” and follows an earlier statement of intent issued September 2, 2022 by G7 finance ministers.[2]
Continue Reading U.S. Treasury Department Issues Preliminary Guidance on Russian Oil Price Cap and Services Ban
3 Foreign Investment Issues Affecting Cross-Border Deals
By Chase D. Kaniecki & William S. Dawley on
Cleary Gottlieb partner Chase Kaniecki and associate Will Dawley co-authored an article titled, “3 Foreign Investment Issues Affecting Cross-Border Deals,” which was published by Law360.
In the article they provide a summary of the recent developments in the FDI review regimes in the EU and the U.K. and highlight three of the…