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EU adds names to Ukraine sanctions and widens criteria in preparation for further sanctions, possibly this week; prolongs Iran...

This alert resumes three changes to EU sanctions adopted over the past week. This week is likely to be equally busy as further sanctions on Ukraine and Russia are expected imminently. First, and most important, the...more

Iran Nuclear Talks: Extension of Joint Plan of Action

On Friday, July 18, 2014, U.S. Secretary of State John Kerry issued a statement that the Joint Plan of Action (JPOA) negotiated between the P5+1 nations1 and Iran would be extended until November 24, 2014. As we reported...more

Don’t try this at Home or Abroad: Export Controls and Sanctions Violations Lead to $21 Million in Penalties for Dutch Company...

We frequently discuss enforcement actions in this blog, because understanding enforcement is a key aspect of trade compliance. From a fifty-thousand foot view, each enforcement case serves as a cautionary tale about the...more

Treasury Department Announces $21 Million Resolution Of Alleged Iran and Sudan Sanctions Violations

On June 5, the Treasury Department’s Office of Foreign Assets Controls (OFAC) announced a Dutch aerospace firm has agreed to pay $21 million to resolve allegations that the company violated U.S. sanctions on Iran and Sudan....more

Red Notice Newsleter

Welcome to the May 2014 edition of Red Notice, a publication of Akin Gump Strauss Hauer & Feld LLP. This month, on the anticorruption front, Avon Products, Inc. (“Avon”) agrees to pay USD $135 million to settle a...more

Sanctions Round-Up: First Quarter 2014

In this edition: - Implementation of the Joint Plan of Action with Iran - Additional US Iran-Related Sanctions and Licenses - OFAC Civil Settlements - US and EU Sanctions in Response to the Situation in...more

Sanctions Round-Up: Fourth Quarter 2013

As 2013 drew to a close, a potentially groundbreaking agreement was reached with Iran regarding its nuclear program, leading to much speculation about how certain sanctions might be suspended, and under what conditions. While...more

Sanctions Update -- December 2013

Iran: Easing of sanctions by the United States (“US”) and European Union (“EU”) - On 24 November 2013, a joint commission of the United Kingdom ("UK"), the United States, Germany, France, Russia and China (collectively...more

Sanctions Round-Up: Third Quarter 2013

In this edition: - Iranian Sanctions Eased to Allow Additional Humanitarian Exports and Activities - New Iranian Sanctions Designations Announced - Significant Reduction Waivers Extended - Global...more

Red Notice Newsletter - September 2013

INTRODUCTION - Welcome to the September 2013 edition of Red Notice, a publication of Akin Gump Strauss Hauer & Feld LLP. This month on the anticorruption front, several U.S. financial executives plead guilty in a...more

Sanctions Round-Up: Second Quarter 2013

In this issue: - The Iran Freedom and Counter-Proliferation Act of 2012 - E.O. 13645, issued June 3, 2013 - Enforcement Against Foreign Sanctions Evaders - Enforcement Against Human Rights...more

OFAC Issues New General License Authorizing the Provision of Specified Fee-Based Personal Internet Communications Services,...

Introduction - US sanctions restrictions have traditionally exempted exchanges of information and informational materials. However, because the prohibitions on exports of software and services are sufficiently broad to...more

US Extraterritorial Sanctions Targeting Non-US Insurers for Iran-Related Activities

The US government has again expanded the scope of its Iranian extraterritorial sanctions program with the enactment of the Iran Freedom and Counter-Proliferation Act of 2012 (the “IFCPA”). Among other things, the IFCPA...more

Sanctions Update

This alert follows on from our client alert of 7 January 2013, relating to the implementation of Council Regulation (EU) No. 1263/2012 against Iran, which can be found here. The year 2013 will inevitably bring further...more

Iran Sanctions Update

The United States continues to impose additional layers of sanctions on Iran. The rate of change and complexity of U.S. sanctions laws present challenges, particularly where these sanctions have extraterritorial effect on the...more

New Reporting Requirements Under the Iran Threat Reduction and Syria Human Rights Act of 2012

On August 10, 2012, the United States delivered its latest economic blow to Iran by enacting the Iran Threat Reduction and Syria Human Rights Act of 2012. U.S. companies have long been forbidden from engaging in most...more

Iran - Sanctions Update: Council Regulation 1263/2012

This alert is an update on the position set out in our client alert of 22 October 2012 (the "October Alert"), which can be found here. ( Please see below for link.)...more

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