Russia is the largest diamond producer in the world, earning €4 billion in the diamond trade in 2023. The global natural diamond jewelry market is approximately $87 billion. Alrosa, which is 33% owned by the Russian government, is the world’s largest producer, by volume, of natural diamonds, and produces almost all Russian diamonds.
Read moreOn February 21, 2024, the IRS announced its plans to begin dozens of audits on business aircraft involving personal use. The agency indicated that these audits will focus on aircraft usage "by large corporations, large partnerships and high-income taxpayers and whether for tax purposes the use of jets is being properly allocated between business and personal reasons."
Read moreOn December 22, 2023, New York Governor Kathy Hochul signed Senate Bill S995B, also referred to as the “LLC Transparency Act,” into law.
The Kentucky Supreme Court recently handed down a pair of opinions providing significant guidance for parties to medical malpractice cases. Here, two of Lewis Brisbois' partners explore the key takeaways from these decisions for medical providers.
Read moreThe State of Georgia saw several developments in labor and employment law in 2023 focused on employee leave entitlements and vaping prohibition.
Read moreOn February 1, 2024, the Price Cap Coalition (comprising the G7 countries, European Union, and Australia) released an Oil Price Cap (OPC) Compliance and Enforcement Alert, which provides an overview of important OPC considerations and reporting guidelines for suspected OPC violations.
Read moreThe State of Illinois continued its best efforts to be the “California of the Midwest” in 2023. The State passed a large assortment of laws and amendments, primarily in the areas of employment, leaves of absence, and staffing.
Read moreOn January 30, 2024, the United States took steps to reimpose sanctions on Venezuela, following actions by the Maduro government deemed by the U.S. Department of State to be inconsistent with prior agreements. These steps include retracting general licenses and an indication that further sanction-related action may be taken, should such actions by the Maduro government continue.
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