Best Sanctions & Export Controls Lawyers in Reykjavik

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Jonatansson & Co. Legal Services

Jonatansson & Co. Legal Services

30 minutes Free Consultation
Reykjavik, Iceland

Founded in 1984
6 people in their team
English
Icelandic
Danish
Jonatansson & Co Legal Services is a full service Law Firm with emphasize on assisting businesses and various organisational entities in litigation and dispute resolution of various kind, in almost every field of the law.Jonatansson & Co is a dynamic independent law firm willing and...
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LLG Lögmenn
Reykjavik, Iceland

Founded in 2013
50 people in their team
Icelandic
English
Andri Vilhjálmur Sigurðsson joined LLG Lögmenn (formerly Lögmenn Lækjargatu) in 2013 and has been one of the company's owners since then. Before that, Andri had worked as a lawyer at Kaupþing bank hf. from 2000-2007 and in Luxembourg from 2007. First for Kaupthing Bank Luxembourg SA in...
OPUS Legal Service
Reykjavik, Iceland

Founded in 2006
50 people in their team
Icelandic
English
OPUS Legal Services take pride in providing clients with reliable, personal advice and professional legal counseling. We represent individuals as well as corporate and institutional clients from several different countries in addition to Iceland.OPUS Legal Services take pride in providing...
Nordik Legal Services
Reykjavik, Iceland

Founded in 2010
50 people in their team
Icelandic
English
ABOUT USSince its establishment in 2010, Nordik Legal has been leader in providing of services to both Icelandic and international business, particularly in among other the field of mergers and acquisitions,  corporate finance,  corporate law, and domestic and international tax law....
LAGASTOÐ
Reykjavik, Iceland

Founded in 1979
50 people in their team
Icelandic
English
We advise individuals, families, businesses, financial institutions, and government bodies on Icelandic and EEA-Law and represent our clients’ interests before public agencies and in the courts. We have vast experience advising on legal issues pertaining to finance, real estate, and tax, with a...
LAW FIRM VALDIMARSSON
Reykjavik, Iceland

Founded in 2020
50 people in their team
Icelandic
English
Quality and personal serviceAt Lögmannsstofon Valdimarsson, it is guaranteed that our clients always receive the best service available, from professionals in the area of ​​law that is needed. Our customers can trust that their case will receive the attention it requires.The serviceÓmar...
Landslög
Reykjavik, Iceland

Founded in 1971
50 people in their team
Icelandic
English
Landslag law firm has comprehensive knowledge and experience in all major areas of law. Landslagi's customers are thus offered specialized advice that has produced remarkable results.Companies, domestic and foreign, municipalities and public sector organizations have taken advantage of Landslagi's...
Reykjavik Law Firm
Reykjavik, Iceland

Founded in 2000
50 people in their team
Icelandic
English
Our services are based on the wealth of knowledge and experience that our attorneys have gathered over the years. Our team can provide specialized and professional services in a multitude of diverse sectors of the law.Our attorneys are experts in litigation and defend the interests of our clients...
Lagahvoll
Reykjavik, Iceland

Founded in 2012
50 people in their team
Icelandic
English
About LagahvollLagahvoll is an independent law firm with strong focus on impartiality and independence. We offer specialised legal services with an emphasis on commercial and financial law.We represent both large and small companies as well as individuals, including professional investors. Our...
Réttur
Reykjavik, Iceland

Founded in 2002
50 people in their team
Icelandic
English
The roots of the law can be traced back to 1969, when Ragnar Aðalsteinsson founded his law firm. The co-owners of Ragnar í Rétti are Sigurður Örn Hilmarsson, Sigrún Ingibjörg Gísladóttir, Védís Eva Guðmundsdóttir and Kári Hólmar Ragnarsson. Ever since the institution was founded,...
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About Sanctions & Export Controls Law in Reykjavik, Iceland

Sanctions and export controls law in Reykjavik, Iceland governs the legal framework relating to restrictions on trade, financial transactions, and the movement of goods, services, and technology involving specific countries, entities, or individuals. These laws aim to align with Iceland's foreign policy objectives, ensuring compliance with United Nations and European Union regulations, while also committing to international peace and security. Reykjavik, as Iceland’s capital and commercial hub, is a central point for compliance with these regulations due to its concentration of businesses, financial institutions, and government agencies.

Why You May Need a Lawyer

Legal issues concerning sanctions and export controls can be highly complex. You may require legal assistance in several common scenarios, such as:

  • Assessing whether your business activities or transactions may violate Icelandic or international sanctions
  • Seeking licenses or authorizations for exporting controlled goods, technology, or services
  • Dealing with asset freezes, embargoes, or blocked accounts
  • Responding to investigations or enforcement actions by Icelandic authorities
  • Understanding newly imposed sanctions and updating compliance protocols
  • Navigating international trade agreements and their implications for your operations in Reykjavik
  • Drafting, reviewing, or negotiating contracts that may be affected by export restrictions or sanctions
  • Managing due diligence when partnering with foreign businesses or individuals

An experienced lawyer can help you interpret the applicable rules, avoid severe penalties, and protect your business interests.

Local Laws Overview

In Iceland, sanctions and export controls are primarily shaped by international obligations, especially those adopted via the United Nations and the European Economic Area. The Ministry for Foreign Affairs is the main governmental body responsible for implementing these measures. Key features of the laws in Reykjavik include:

  • Implementation of UN Security Council sanctions as directly binding domestically
  • Adoption of EU sanctions and export control measures via the EEA Agreement
  • National procedures for granting export licenses for dual-use items (goods, software, or technology with both civilian and military uses)
  • Strict prohibitions on exports to certain countries, organizations, or individuals listed in official regulations
  • Serious penalties for non-compliance, including fines and possible criminal charges for intentional violations
  • Requirements for due diligence and record-keeping for companies engaging in cross-border trade

Businesses and individuals in Reykjavik must stay updated on the continuously changing list of sanctions and ensure all export permits and compliance documentation are in proper order.

Frequently Asked Questions

What qualifies as a "controlled" or "restricted" export in Iceland?

Controlled exports include goods, technology, or services that are explicitly listed under Icelandic law or international conventions, especially dual-use items and military equipment. You should always check the official regulations to ensure compliance before engaging in cross-border transactions.

How are sanctions implemented in Reykjavik?

Sanctions are enforced through Icelandic legislation that reflects United Nations and European Union decisions. This includes asset freezes, trade embargoes, and travel bans affecting designated individuals or entities.

Do I need a license to export software or technology from Reykjavik?

Yes, certain types of software, technology, or technical data require an export license, particularly if they are considered dual-use or have potential military applications. It is best to consult with the Ministry for Foreign Affairs or legal counsel.

What are the penalties for violating sanctions or export controls in Iceland?

Violations can result in severe fines, forfeiture of goods, and even criminal prosecution. Companies can also suffer reputational damage and restrictions on future trade.

Are Icelandic businesses subject to non-Icelandic sanctions laws?

While Icelandic law is primary, businesses may also be impacted by foreign sanction regimes, particularly if they operate across borders or transact in foreign currencies, such as US dollars.

How can I determine if my customer or supplier is subject to sanctions?

You must check the official sanctions lists published by Icelandic authorities and relevant international bodies. Conducting proper due diligence is crucial.

How often do sanctions and export controls change?

Sanctions lists and export control regulations can change frequently, sometimes with little notice. Regular monitoring or engaging compliance professionals is advised.

Who enforces export controls and sanctions in Reykjavik?

Enforcement is primarily handled by the Ministry for Foreign Affairs, the Directorate of Customs, and the National Commissioner of the Icelandic Police. They have authority to investigate, seize goods, and prosecute offenses.

Can individuals or businesses appeal enforcement actions?

Yes, there are established administrative and judicial procedures for appealing enforcement actions or denied export licenses. Legal representation is highly recommended in these cases.

What should I do if I think I have inadvertently violated sanctions laws?

You should immediately consult a lawyer experienced in sanctions and export controls. Self-reporting is sometimes advisable, and early legal intervention can help mitigate potential penalties.

Additional Resources

If you need more information or assistance, the following resources may be helpful:

  • Ministry for Foreign Affairs - Responsible for administering and publishing updates on sanctions and export controls
  • Directorate of Customs - Oversees import and export of goods, conducts compliance checks
  • Icelandic Chamber of Commerce - Offers guidance to businesses regarding international trade regulations
  • National Commissioner of the Icelandic Police - Involved in the enforcement of sanctions-related criminal matters
  • European Union Sanctions Map - Useful for checking up-to-date lists of EU measures adopted by Iceland

Legal professionals and industry associations in Reykjavik may also organize seminars and provide best-practice guidelines for compliance.

Next Steps

If you are facing a matter involving sanctions or export controls in Reykjavik, Iceland, consider following these steps:

  • Document all details of your situation, including relevant contracts, emails, and transaction records
  • Review official guidance from the Ministry for Foreign Affairs and any applicable industrial regulations
  • Contact a qualified lawyer specialized in sanctions and export controls for a confidential consultation
  • Establish an internal compliance program if you operate a business vulnerable to international trade risks
  • Remain proactive by subscribing to official updates and attending relevant training or professional seminars

An early legal review and compliance assessment can help you avoid penalties, protect your interests, and ensure that your operations remain within the boundaries of Icelandic and international law.

Lawzana helps you find the best lawyers and law firms in Reykjavik through a curated and pre-screened list of qualified legal professionals. Our platform offers rankings and detailed profiles of attorneys and law firms, allowing you to compare based on practice areas, including Sanctions & Export Controls, experience, and client feedback. Each profile includes a description of the firm's areas of practice, client reviews, team members and partners, year of establishment, spoken languages, office locations, contact information, social media presence, and any published articles or resources. Most firms on our platform speak English and are experienced in both local and international legal matters. Get a quote from top-rated law firms in Reykjavik, Iceland - quickly, securely, and without unnecessary hassle.

Disclaimer:
The information provided on this page is for general informational purposes only and does not constitute legal advice. While we strive to ensure the accuracy and relevance of the content, legal information may change over time, and interpretations of the law can vary. You should always consult with a qualified legal professional for advice specific to your situation. We disclaim all liability for actions taken or not taken based on the content of this page. If you believe any information is incorrect or outdated, please contact us, and we will review and update it where appropriate.