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US, EU and UK Impose Unprecedented Sanctions Against Russia

Background As noted in our prior update, the United States, European Union and United Kingdom imposed a number of sanctions in connection with Russia’s recognition of the Donetsk and Luhansk regions of Ukraine. ...more

COVID-19: International Trade Navigation

The outbreak of COVID-19 is impacting international trade as global markets deal with uncertain supply and companies and governments work to ensure personal safety while developing contingency plans for handling the virus. In...more

Russia/Venezuela Sanctions Update: Additional Sanctions Imposed on Rosneft Trading 

The U.S.Treasury Department’s Office of Foreign Assets Control (“OFAC”) added Rosneft Trading SA (“Rosneft Trading”), a subsidiary of Russian oil major Rosneft Oil Company (“Rosneft”), to the List of Specially Designated...more

U.S. Imposes Blocking Sanctions on Government of Venezuela, Signals Additional Secondary Sanctions

On August 5, 2019, the President signed a new executive order ( “EO 13884”) that imposes blocking sanctions on the Government of Venezuela (“GOV”). EO 13884 does not impose a trade embargo or broadly prohibit transactions...more

OFAC Clarifies, and Further Complicates, Sanctions on Venezuela, PdVSA

On February 1, 2019, the U.S. Department of Treasury’s Office of Foreign Assets Control (“OFAC”) issued guidance in the form of Frequently Asked Questions (“FAQs”) relating to sanctions imposed on January 28, 2019 against...more

Financial Services Quarterly Report - Second Quarter 2018: Current U.S. Sanctions Against Russia, Venezuela and Iran

International sanctions are a major compliance challenge for companies worldwide. The regulatory risks associated with economic sanctions, asset-freezing measures and trade embargoes are not new, but they continue to grow in...more

OFAC Issues Important Updates and Clarifications to Russia Sanctions

The Office of Foreign Assets Control (OFAC) of the U.S. Department of the Treasury issued updated general licenses and related guidance in connection with sanctions imposed in April on certain Russian individuals and entities...more

In a Major Move, US Sanctions Key Russian Oligarchs, Officials, and Related Entities

The Trump Administration, on April 6, 2018, imposed sanctions on a number of Russian oligarchs with vast business interests, Russian government officials, officers of Russian state-owned enterprises, and related companies....more

US Imposes Sanctions on Venezuelan Government Securities

The United States announced new sanctions against the Venezuelan Government on August 25, 2017 that target the government’s ability to access U.S. debt and equity markets. The measures are intended to pressure Venezuelan...more

US Government Modifies Sanctions Against Russia/Crimea

The U.S. Treasury Department’s Office of Foreign Assets Control (“OFAC”) imposed sanctions on additional Russian and Crimean persons while also issuing a general license authorizing certain transactions with a...more

United States Further Eases Economic Sanctions on Burma/Myanmar

The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) eased certain sanctions against Burma/Myanmar on May 17, 2016, including by allowing most transactions involving Burmese financial institutions....more

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