Richard Burke

Richard Burke

White & Case LLP

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US Issues Executive Order Prohibiting Crimea-Related Transactions and General License No. 4 Authorizing Humanitarian Exports to...

On December 19, 2014, President Obama signed an Executive Order (EO) prohibiting a broad range of transactions related to the Crimea region of Ukraine and authorizing the United States to impose sanctions on certain persons...more

12/23/2014 - Barack Obama Crimea Executive Orders Exports OFAC Sanctions SDN List Ukraine

President Signs Russia Sanctions Law But Does Not Intend To Impose New Sanctions At This Time

On December 18, 2014, President Obama signed into law the Ukraine Freedom Support Act of 2014 (the “Act”), authorizing sanctions related to Russia’s defense, energy, and financial sectors. The Act is the latest in US...more

12/19/2014 - Banking Sector Barack Obama Defense Sector Energy Sector New Legislation Russia Sanctions Ukraine

US Announces Liberalization of Cuba Sanctions Policy

On December 17, 2014, President Obama announced the relaxation of certain aspects of the comprehensive trade embargo against Cuba that the United States has maintained since the early 1960s. As set forth by the White House,...more

12/18/2014 - Barack Obama Cuba Foreign Relations

Iran sanctions suspension extended, and other EU sanctions news (Syria, Belarus, Serbia/Montenegro)

This alert summarizes certain recent EU sanctions developments with respect to Iran, Syria, Belarus, and Serbia/Montenegro. In sum, they are as follows: • Iran: Today, the EU decided to extend the existing temporary...more

11/26/2014 - EU Extensions Iran Sanctions JPOA P5+1 Nations Sanctions

Back in the game: The rise of US M&A

US M&A is bouncing back - After a tough few years, acquisitions in the United States have seen a remarkable resurgence - The first half of 2014 saw a great dealmaking revival in the United States. Deal values...more

11/9/2014 - Acquisitions Biotechnology Buyouts CFIUS China Corporate Taxes Due Diligence EU Foreign Investment Inversion Mergers Pharmaceutical Manufacturers Popular Private Equity Takeover Bids Telecommunications

United States Tightens Sanctions Against Russian Financial, Defense, and Energy Sectors

On September 12, 2014, the United States issued another round of targeted sanctions against the Russian financial, defense, and energy sectors. Today’s measures were a combination of new measures and modifications of prior...more

9/15/2014 - Banking Sector Defense Sector Energy Sector Russia Sanctions SSI List

New EU Russia sanctions: ban on oil project services; wider capital market sanctions (loans and credit, shorter-term equity, with...

Today, the EU published a second round of targeted sanctions against Russia. These new measures expand the EU’s existing Russia sanctions and restrict access to capital markets covering certain loans and credit, trade in...more

9/12/2014 - Asset Freeze Capital Markets Defense Sector Energy Sector EU Oil & Gas Russia Sanctions SDN List SSI List Travel Ban

OFAC Issues Revised Guidance on Aggregation of Ownership Interests

On August 13, 2014, the US Treasury Department’s Office of Foreign Assets Control (OFAC) issued revised guidance with respect to the “50% Rule,” which established that an entity owned 50% or more, directly or indirectly, by a...more

8/15/2014 - Aggregation Rules Executive Orders OFAC Sanctions SDN List

US Expands Export Restrictions on Russia and Targets Russian Energy Sector

On August 1, 2014, the Bureau of Industry and Security (BIS) announced further export restrictions targeting Russia generally and the Russian oil and gas sector in particular, effective August 6, 2014. This action implements...more

8/8/2014 - BIS Energy Foreign Policy Russia Sanctions

United States Issues Further Sanctions Targeting Russian Financial, Defense and Energy Sectors

On July 29, 2014, the United States expanded sectoral sanctions, targeting the Russian financial, defense and energy sectors in response to the ongoing unrest in Ukraine. The new sanctions include the addition of three...more

7/31/2014 - Foreign Policy Russia Sanctions Ukraine

DC Circuit Requires Committee on Foreign Investment in the United States to Provide Due Process Protections to Investors

On July 15, 2014, the US Court of Appeals for the District of Columbia (DC Circuit) ruled that if the President, pursuant to his powers under the Exon-Florio Amendment to the Defense Production Act of 1950 (DPA), deprives a...more

7/25/2014 - Appeals Barack Obama CFIUS Divestiture Due Process Exon-Florio Foreign Nationals National Security Obama Administration Ralls Corporation Wind Farm

US Imposes Sectoral Sanctions on Russian Financial and Energy Companies, Expands Ukraine-Related Designations and Adds Further...

On July 16, 2014, the United States issued new sanctions targeting the Russian financial and energy sectors in response to the ongoing unrest in Ukraine. The new sectoral sanctions target four Russian companies by placing...more

7/17/2014 - Banking Sector Energy Sector Export Controls Exports OFAC Russia Sanctions SDN List U.S. Treasury Ukraine

EU adds 11 ‘rebel’ names to Ukraine list, introduces South Sudan asset freeze

The EU has introduced new sanctions measures, namely the following: • The addition of 11 ‘rebel’ names to the Ukraine asset freeze list; and • The introduction of an asset freeze in relation to South Sudan,...more

7/15/2014 - Asset Freeze EU Sanctions Sudan Ukraine

EU updates sanctions against Libya and Syria, and introduces import ban for Crimean products

The EU Council on 23 June 2014 took several sanctions-related actions,1 all effective on 24 or 25 June 2014, including: • the introduction of an EU import ban for products from Crimea and Sevastopol (and related...more

6/26/2014 - Asset Freeze EU Illegal Imports Importation Limits Imports Oil & Gas Sanctions Syria Vessels

The United States Designates Seven Individuals Under Executive Order 13660 Relating to Separatist Activity in Ukraine

On June 20, 2014, the US Office of Foreign Assets Control (“OFAC”) issued further designations under Executive Order 13660 (“EO 13660”). EO 13660, which was signed on March 6, 2014, authorizes the United States to impose...more

6/23/2014 - Executive Orders OFAC Sanctions Ukraine

Oral Arguments Held in First-Ever Challenge to CFIUS National Security Review of Foreign Investments in the United States

On May 5, the US Court of Appeals for the District of Columbia (DC Circuit) heard oral arguments in Ralls Corp. v. CFIUS et al. The case is the first ever challenge to the review process conducted by the Committee on Foreign...more

5/29/2014 - Acquisitions Appeals Barack Obama CFIUS Foreign Nationals Investors National Security Oral Argument Wind Power

New Executive Order Targeting Persons Contributing to the Conflict in the Central African Republic and Designating Five...

On May 13, 2014, President Obama signed an Executive Order (the “Order”) related to the situation in the Central African Republic and targeting those contributing to the conflict in that country. This Order allows the United...more

5/16/2014 - Africa Executive Orders Foreign Policy Sanctions

EU broadens Ukraine sanctions and adds two companies and 13 individuals to sanctions list

On 12 May 2014, the EU Council broadened the scope of EU sanctions in response to the situation in Ukraine. The legal basis for EU sanctions was broadened notably to cover obstruction of the work of international...more

5/14/2014 - EU Sanctions Ukraine

Ukraine-related sanctions: Key issues for financial institutions

What is the status of the evolving international sanctions against Ukraine and Russia? Since the recent escalation of the Ukraine crisis in March, there have been almost daily developments regarding economic sanctions...more

5/8/2014 - Banks Russia Sanctions Ukraine

Ukraine-related sanctions: Key issues for companies

What is the status of the evolving international sanctions against Ukraine and Russia? Since the recent escalation of the Ukraine crisis in March, there have been almost daily developments regarding economic sanctions...more

5/7/2014 - Asset Freeze Australia Canada EU Executive Orders Obama Administration Russia Sanctions Ukraine

The United States Designates Seven Russian Individuals and Seventeen Companies under Executive Order 13661, Imposes Additional...

Further Sanctions Designations: On April 28, 2014, the US Office of Foreign Assets Control (“OFAC”) issued further designations under Executive Order 13661 (“EO 13661”). EO 13661, which was signed on March 16, 2014,...more

4/29/2014 - Executive Orders Foreign Policy OFAC Russia Sanctions

The United States Designates Seven Additional Ukrainian Individuals and One Energy Company under Executive Order 13660

On April 11, 2014, the US Office of Foreign Assets Control ("OFAC") issued further designations under Executive Order 13660 ("EO 13660"). EO 13360, which was signed on March 6, 2014, authorizes the United States to impose...more

4/14/2014 - Executive Orders Russia Sanctions Ukraine

New Executive Order Targeting Persons Responsible for the Situation in South Sudan

On April 3, 2014, President Obama signed Executive Order 13664 (“EO 13664”) related to the situation in South Sudan and targeting those responsible for the conflict in that country. EO 13664 allows the United States to impose...more

4/11/2014 - Barack Obama Executive Orders Human Rights Sanctions Sudan

Ukraine-related sanctions – a month in: Key issues for financial institutions

What is the status of the evolving international sanctions against Ukraine and Russia? Since the recent escalation of the Ukraine crisis in March, there have been almost daily developments regarding economic sanctions...more

4/10/2014 - Russia Sanctions Ukraine

Ukraine-related sanctions – a month in: Key issues for companies

What is the status of the evolving international sanctions against Ukraine and Russia? Since the recent escalation of the Ukraine crisis in March, there have beenalmost daily developments regarding economic sanctions...more

4/9/2014 - Russia Sanctions Ukraine

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