Global Cartel Fines Surge to $3.3 Billion in 2025

Global cartel fines reached $3.3 billion in 2025, the highest total since 2021, driven primarily by enforcement actions in the European Union. The report highlights significant increases in fines from the European Commission and EU member states, while the US saw its lowest fine total in recent memory.

Vertical Conduct Violation Fines Dropped Six-Fold in 2025

A report indicates that fines for vertical conduct violations globally dropped six-fold in 2025 compared to 2024, with the number of infringement decisions halved. Despite this overall decrease, the European Commission remained the most active enforcer, focusing on the consumer and retail sectors, and resale price maintenance continued to be a key area of scrutiny.

EBA Final Guidelines on Third-Country Branch Capital Endowment

The European Banking Authority (EBA) has published final guidelines on instruments that third-country branches can use to meet their capital endowment requirements under CRD IV. These guidelines clarify which debt securities and other instruments are acceptable and set operational conditions for their use.

UK Sanctions Nearly 300 Russian Entities

The UK has announced its largest sanctions package against Russia, designating nearly 300 entities involved in critical energy revenues, military supply chains, and financial institutions. These measures aim to disrupt Russia's war effort and access to international markets.

India: INTERPOL Issues Silver Notice for Fugitive Economic Offender

India's Enforcement Directorate requested INTERPOL to issue a Silver Notice for Karan A. Chanana, chairman of Amira Pure Foods, in connection with an alleged Rs 1,200 crore bank loan fraud. The notice aims to trace and freeze assets acquired through criminal proceeds.

Canadian Sanctions Laws Overview

Blake, Cassels & Graydon LLP has published an overview of Canada's complex sanctions laws, effective March 2026. The guidance details how these laws impact Canadian businesses and foreign states, outlining prohibitions, reporting obligations, and asset blocking requirements for entities operating in or with Canada.

OFAC Sanctions Risks and Cartel Designations

OFAC has settled a $1.7 million case with IMG Academy for sanctions violations related to cartel-linked entities. This highlights increased compliance risks for entities with international touchpoints due to heightened cartel designations and sanctions enforcement.

EU Maritime and Ports Strategies Adopted

The European Commission adopted the EU Industrial Maritime Strategy and EU Ports Strategy on March 4, 2026. These initiatives aim to strengthen the competitiveness, sustainability, and resilience of the EU's maritime ecosystem, covering shipbuilding, shipping, port infrastructure, and maritime technologies. They signal both business opportunities and increased regulatory scrutiny for maritime and infrastructure investors.

Litigation Challenges Legality of Section 122 Duties

Twenty-four states and two private companies have filed lawsuits challenging the legality of Section 122 duties imposed on February 20, 2026. The complaints argue that the President lacks the authority to impose these duties, citing violations of separation of powers and nondelegation doctrines.

Ocean Carriers Add Fuel Surcharges Due to Middle East Disruptions

Major ocean carriers are implementing Emergency Fuel Surcharges (EFS) due to Middle East disruptions and increased routing costs. The U.S. Federal Maritime Commission (FMC) requires carriers to provide 30 days' notice for such surcharges, making enforceability dependent on proper filing and effective dates.