News & Analysis as of

Blocked Entities

Locke Lord LLP

OFAC Extends General License for GL ‎‎99A Entities and Issues New GL for VPower in Hong Kong

Locke Lord LLP on

On August 2, 2024, the U.S. Department of Treasury’s Office of Foreign Assets Control (“OFAC”) issued Russia-related General License ("GL") 99A, which authorizes through October 12, 2024, the wind-down of transactions...more

Foodman CPAs & Advisors

OFAC RPPR Regla Final Interina

El 5/8/2024, la OFAC enmendó y emitió una Regla Final Interina sobre las Regulaciones de Reportes, Procedimientos y Sanciones (“RPPR”) que establece requisitos estándar de presentación de reportes y mantenimiento de registros...more

Foodman CPAs & Advisors

OFAC RPPR Interim Final Rule

On 05/08/2024, OFAC amended and issued an interim final rule on the Reporting, Procedures and Penalties Regulations (RPPR) which sets forth standard reporting and recordkeeping requirements and license application and other...more

Lowenstein Sandler LLP

Trade Matters - Lowenstein Sandler's Global Trade & National Security Newsletter - June 2024

Lowenstein Sandler LLP on

On May 10, 2024, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) issued an Interim Final Rule (IFR), effective August 8, 2024, that updates the Reporting, Procedures, and Penalties Regulations....more

American Conference Institute (ACI)

[Webinar] Virtual Proficiency Series on Economic Sanctions - February 6th - 29th, 1:30 pm - 4:30 pm EST

ACI’s highly anticipated Proficiency Series on Economic Sanctions provides true immersion into Economic Sanctions with the objective of becoming proficient in 4 weeks. Advance your career and professional development by...more

Locke Lord LLP

OFAC Russia ‎Sanctions Update

Locke Lord LLP on

On November 9, 2023, the U.S. Department of the Treasury’s Office of Foreign Assets Control ‎‎(“OFAC”) issued General License (“GL”) 76A to clarify that the GL applies to “Public Joint Stock Company Saint Petersburg...more

Oberheiden P.C.

OFAC Compliance: Avoiding Common Root Causes of Compliance Policy Breakdowns and Deficiencies

Oberheiden P.C. on

For financial institutions and businesses that are subject to the oversight of the Office of Foreign Assets Control (OFAC), compliance needs to be a priority in 2023. OFAC is playing an increasingly active role in overseeing...more

Orrick, Herrington & Sutcliffe LLP

OFAC sanctions chemical suppliers tied to Mexican drug cartel

On April 14, the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) announced sanctions, pursuant to Executive Order 14059, against two Chinese entities and five individuals based in China and Guatemala for...more

BakerHostetler

AML Whistleblower Improvement Act Expands Whistleblower Protections in Play Against Russian Sanctioned Entities

BakerHostetler on

As one of its last acts of 2022, Congress aimed to close loopholes in the Anti-Money Laundering Act of 2020 (AMLA) that left it unclear how and how much whistleblowers would be paid. On Dec. 23, 2022, Congress passed the...more

White & Case LLP

Switzerland adopted the remaining measures of the EU ninth package of sanctions on 25 January 2023

White & Case LLP on

Switzerland implemented the remaining measures of the EU ninth package of sanctions in its Ordinance on Measures Connected with the Situation in Ukraine (the "Ordinance"switz), with effect from 25 January at 18:00 CET. These...more

BakerHostetler

Current State of BIS Export Controls in Response to the Russian Federation's Invasion of Ukraine - Update January 2023

BakerHostetler on

UPDATE – December 2022 was another busy month for Entity List additions by BIS. Effective Dec. 21, 2022, the U.S. Department of Commerce’s Bureau of Industry and Security (BIS) further tightened controls on the Wagner...more

Eversheds Sutherland (US) LLP

Russia and Belarus sanctions update - October 2022

Recently, the US Department of the Treasury’s Office of Foreign Assets Control (OFAC) has taken additional actions against Russia in response to its continued invasion of Ukraine. Specifically, OFAC: ..Issued guidance...more

Eversheds Sutherland (US) LLP

Russia and Belarus sanctions update - September 2022

Over the past few weeks, the Office of Foreign Assets Control (OFAC) of the US Department of the Treasury ramped up sanctions pressure against Russia with the announcement of a new ban on certain services in seaborne Russian...more

Fuerst Ittleman David & Joseph

D.C. Circuit: U.C.C. Article 4A Does Not Govern Judgment Creditors’ Claims to Sanctioned Company’s Funds Held by Intermediary...

On August 16, 2022, the United States Court of Appeals for the D.C. Circuit issued its ruling in Estate of Jeremy Isadore Levine, et al. v. Wells Fargo Bank, N.A., No. 21-7036, –F.4th– (D.C. Circuit August 16, 2022), a case...more

Eversheds Sutherland (US) LLP

Russia and Belarus sanctions update - August 2022

Over the past few weeks, the US Department of Treasury Office of Foreign Assets Control (OFAC) took various actions in response to Russia’s continued invasion in Ukraine: ..updated the Specially Designated Nationals and...more

BCLP

Liquidating Frozen Assets: When Foreign Policy Meets Sanctions Enforcement

BCLP on

In their June 2022 report “The cost of complacency: illicit finance and the war in Ukraine”, the House of Commons Foreign Affairs Committee (the “FAC”) condemned the UK Government’s historic lack of commitment to tackling...more

BakerHostetler

Russian Sanctions Impact Delaware Entities

BakerHostetler on

Key Takeaways - ..The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) is prohibiting the provision of accounting, trust and corporate formation, and management services to any person in the...more

Venable LLP

Do You Contract with State Governments? If So, Beware of Emerging State Sanctions' Obligations Related to Russia and Belarus

Venable LLP on

U.S. contractors with global operations are likely aware of the significant restrictions imposed by the federal government in response to the Russian invasion of Ukraine, in the form of new sanctions, allied trade embargoes,...more

BCLP

Russia Sanctions Update: Prohibitions Regarding Certain Professional Services, Additional SDN Designations, Visa Restrictions, and...

BCLP on

Following a meeting of G7 leaders on May 8, 2022, the United States enacted additional sanctions and export control measures in response to the ongoing conflict in Ukraine. Among the changes: a prohibition on U.S. persons...more

K&L Gates LLP

U.S. Imposes Further Rounds of Sanctions on Russia

K&L Gates LLP on

As an update to our previous alerts of 24 February, 25 February, and 15 March, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) on 24 March announced an additional round of sanctions on Russia—one...more

Eversheds Sutherland (US) LLP

Russia and Belarus sanctions update - March 2022

Following the invasion of Ukraine by Russia, the UK, EU and US have all responded by announcing significant sanctions in respect of Russia and Belarus. The sanctions landscape has been changing at a fast pace and further...more

WilmerHale

Sanctions Update: Policymakers Worldwide Rolling Out New Measures to Increase the Economic Costs of Russia’s War Against Ukraine

WilmerHale on

Western sanctions against Russia have continued to broaden substantially into new areas of trade, especially in the energy sector. Policymakers in Washington DC, Brussels, London and other allied capitals also continue to...more

Miller Canfield

U.S. Export Controls and Sanctions Update: Russia, Belarus and Ukraine

Miller Canfield on

Broad U.S. export controls and sanctions recently imposed on Russia, Belarus and specific areas of Ukraine may impact companies with international exposure to these regions, including but not limited to industries such as...more

Dorsey & Whitney LLP

U.S. Expands Russian Energy Sector Sanctions, Proposes Major Tariff Hikes on Nearly All Russian-Origin Goods & Imposes New...

Dorsey & Whitney LLP on

As part of its expanding sanctions against Russia, the Biden Administration on March 8, 2022, issued Executive Order 14066 (“EO 14066,” see here) to bar imports into the United States of Russian crude oil, petroleum;...more

BakerHostetler

United States Continues to Increase Sanctions Against Russia and Belarus

BakerHostetler on

On March 11, 2022, President Biden signed an Executive Order prohibiting exports of US-origin luxury goods to Russia and Belarus and Russian and Belarusian oligarchs, broadening the US import ban on goods originating in the...more

72 Results
 / 
View per page
Page: of 3

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide
- hide