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Foreign Policy U.S. Treasury

Mayer Brown

Russia/Ukraine Sanctions Update - Month of August

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US SANCTIONS - US Department of the Treasury Takes Further Action against Russia’s International Supply Chains: On August 23, the US Department of the Treasury’s Office of Foreign Assets Control (OFAC) and the US...more

Latham & Watkins LLP

US Treasury Department Issues Notice of Proposed Rulemaking on Implementation of Outbound Investment: 5 Key Takeaways

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The proposed regulations would implement President Biden’s Executive Order that restricts certain outbound investments from the US. On June 21, 2024, the US Department of the Treasury (Treasury) issued a Notice of Proposed...more

Holland & Knight LLP

OFAC Expands Secondary Sanctions Targeting FFIs Transacting with Sanctioned Russian Persons

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Nearly six months after President Joe Biden signed an executive order (EO) authorizing secondary sanctions against Foreign Financial Institutions (FFIs) conducting or facilitating significant transactions with certain...more

Cadwalader, Wickersham & Taft LLP

Treasury Proposes Enhancing CFIUS Enforcement Authority

On April 11, 2024, the U.S. Department of the Treasury announced a notice of proposed rulemaking that would expand the enforcement authority of the Committee on Foreign Investment in the United States (“CFIUS” or the...more

Mayer Brown

Russia/Ukraine Sanctions Update - Month of February

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I. US SANCTIONS - US Department of the Treasury Sanctions Almost 300 Individuals and Entities: On February 23, the US Department of the Treasury’s Office of Foreign Assets Control (OFAC) sanctioned almost 300 individuals...more

The Volkov Law Group

New Executive Order Expands Treasury’s Authority to Impose ‘Secondary Sanctions’ on Foreign Financial Institutions Involved in...

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On December 22, 2023, President Joseph R. Biden, Jr. issued an executive order—”Taking Additional Steps With Respect to the Russian Federation’s Harmful Activities”—that subjects certain foreign financial institutions that...more

The Volkov Law Group

OFAC Bolsters Russian Oil Price Cap Record-Keeping Requirements in New Round of Sanctions

The Volkov Law Group on

The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has renewed its commitment to squeezing Russia’s oil proceeds, releasing updated guidance with enhanced attestation and record-keeping requirements...more

The Volkov Law Group

BIS and FinCEN Release Joint Notice Concerning Global Export Control Evasion

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On November 6, 2023, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (“FinCEN”) and the U.S. Department of Commerce’s Bureau of Industry and Security (“BIS”) released a new joint notice concerning...more

Seyfarth Shaw LLP

Long-Awaited Outbound Investment Program Finally Addressed

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On August 9, 2023, President Biden issued an Executive Order entitled, “Addressing United States Investments in Certain National Security Technologies and Products in Countries of Concern” (the “EO”), declaring a national...more

The Volkov Law Group

Commerce, Justice, State and Treasury Issue Unprecedented Joint Advisory Concerning Iranian UAV Procurement Activities

The Volkov Law Group on

In a relatively rare move for four (4) Cabinet-level Departments, the U.S. Departments of Commerce, Justice, State and Treasury issued an advisory notice on June 9, 2023,  aimed specifically at reminding industry of their...more

Brownstein Hyatt Farber Schreck

Ways and Means Committee Republicans Release Pillar Two Remedies Proposal

House Ways and Means Committee Chairman Jason Smith (R-MO) and committee Republicans released legislation on May 25, 2023, in response to the Pillar Two global minimum tax negotiated by the Organisation for Economic...more

Orrick, Herrington & Sutcliffe LLP

OFAC sanctions additional persons in Bosnia and Herzegovina

On March 15, the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) announced sanctions against three individuals in Bosnia and Herzegovina (BiH), pursuant to Executive Orders 14033 or 14059. ...more

Brownstein Hyatt Farber Schreck

Anniversary of Ukraine Invasion Brings New Sanctions for Russia

On Feb. 24, 2023, the White House announced a slate of additional sanctions against Russia, marking the one-year anniversary of the invasion of Ukraine. The additional sanctions follow President Biden’s recent travel to Kyiv...more

Orrick, Herrington & Sutcliffe LLP

Treasury roundtable examines effectiveness of Russian sanctions and export controls

On February 10, Deputy Secretary of the Treasury Wally Adeyemo convened a roundtable to hear from sanctions and U.S. foreign policy experts on the effectiveness of the unprecedented sanctions and export controls imposed on...more

Latham & Watkins LLP

OFAC Sanctions Decentralized Virtual Currency Mixer

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The US Treasury opens a Pandora’s box of legal issues as it targets a decentralized finance protocol used for both licit and illicit means. On August 8, 2022, the US Department of the Treasury’s Office of Foreign Assets...more

The Volkov Law Group

United States Pushes More Sanctions Against Russia and Prohibits Russian Gold Imports

The Volkov Law Group on

The Department of Treasury issued additional sanctions against Russia, targeting almost 100 entities and individuals, and prohibited import of Russian gold.  The United States’ latest action reflected commitments recently...more

ArentFox Schiff

Mother’s Day Sanctions: United States Bans Accounting, Management & Other Services to Russia, Demands More Export Licenses

ArentFox Schiff on

On May 8, 2022 (aka Mother’s Day), the Biden Administration announced yet another series of export controls and sanctions measures intended to ratchet up the costs on Russia’s economy and limit its ability to continue its war...more

BCLP

Round 2: More Sanctions Against Russia

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As unveiled during President Biden’s press conference on February 22, 2022, the United States has imposed another round of sanctions in response to President Putin’s decision to deploy troops to the Donetsk People’s Republic...more

Kramer Levin Naftalis & Frankel LLP

US Department of the Treasury Announces Results of Sanctions Review

On Oct. 18, 2021, the U.S. Department of the Treasury (the Treasury) announced the results of its review of U.S. economic and financial sanctions. During her confirmation hearing in January 2021, Janet L. Yellen, secretary of...more

Morrison & Foerster LLP

Sanctions Legislation Watch: What to Expect from Congress as 2021 Comes to a Close

As we approach year’s end, and the pace of legislative activity ramps up, it remains critical to keep a close eye on the sanctions-related bills currently making their way, at varying speeds, through the U.S. legislative...more

Morrison & Foerster LLP

No Surprises, But Fascinating Statistics on the Growth of Sanctions, as Treasury Releases its 2021 Sanctions Review

On October 18, 2021, the U.S. Department of the Treasury (“Treasury”) released its 2021 Sanctions Review (“Sanctions Review” or the “Review”), which includes recommendations for preserving the effectiveness of sanctions...more

Lowenstein Sandler LLP

Trade Matters - August 2021

1. Biden Administration Trade Posture- The Biden administration is slowly and steadily reviewing the decisions of the Trump administration. So far, the administration has struck a deal with the EU to end the 17-year-old...more

Levenfeld Pearlstein, LLC

Cybersecurity And Anti-Corruption As National Security Concerns

On June 3, 2021, President Joe Biden issued a new directive instructing federal agencies to ramp up their anti-corruption initiatives as a matter of U.S. foreign policy and national security. The National Security Study...more

Husch Blackwell LLP

Biden Administration Imposes New Russia Sanctions And Establishes Framework For Future Expansion Of Russian Sanctions Regime

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Recently, the U.S. Treasury Department’s Office of Foreign Assets Control (“OFAC”) sanctioned various individuals and entities connected to Russia’s technology sector and also expanded sanctions against dealings in Russian...more

ArentFox Schiff

US Administration Takes on Chinese Social Media

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President Trump signed an Executive Order (EO) (TikTok EO) August 6, 2020, banning “transactions” yet to be identified by the US Department of Commerce (Commerce) related to TikTok and its parent ByteDance Ltd. Specifically,...more

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