News & Analysis as of

Office of Foreign Assets Control Sanctions

In Shot Across the Bow, U.S. Sanctions Venezuela’s Maduro

by Hogan Lovells on

One day after the Venezuelan government held elections for a Constituent Assembly that the United States has asserted is aimed at rewriting the national constitution, the Department of the Treasury’s Office of Foreign Assets...more

Lessons in Civil Forfeiture and Attachment: U.S. May Seize 650 Fifth Avenue

by Ballard Spahr LLP on

On June 29, dual trial verdicts in the Southern District of New York paved the way for the government to seize 650 Fifth Avenue, a 36-story building in Manhattan valued at up to $1 billion (“the Property”). The defendants,...more

Our Cuba Sanctions Predictions: How Did We Do?

In our last post, we made a few cocky predictions about the new Trump Administration’s Cuba policy. We correctly asserted that the President would try to chart a narrow course between the Scylla of conservative Cuban-American...more

Obama to Trump: Before and After on Cuba

by Hogan Lovells on

On Friday, 16 June 2017, President Trump made his first major foray into U.S. - Cuban relations since assuming office. While it was a radical departure in tone from his predecessor, the changes he announced appear to leave...more

OFAC Enforcement Trends in the Health Care, Agriculture and Tech Industries

by Baker Donelson on

The United States Department of the Treasury's Office of Foreign Assets Control (OFAC), the U.S. governmental agency tasked with administering and enforcing economic sanctions against hostile targets in furtherance of U.S....more

President Trump Announces Rollback on Obama-era Cuba Sanctions Easing

by Morgan Lewis on

Changes to unwind will not take effect until new regulations are issued. On June 16, US President Donald Trump announced his decision to revoke some—but not all—of the relaxations in Cuba sanctions initiated under former...more

Trump Recasts U.S.-Cuba Policy

by Cozen O'Connor on

On Friday, June 16, President Trump announced policy changes towards Cuba while speaking in Miami. Trump’s new policy directive reverses many of the Obama administration’s policies with Cuba. ...more

Sanctions Penalty Reviewed By The D.C. Circuit Reversing $4M Penalty

by Fox Rothschild LLP on

Last week, the D.C. Circuit affirmed the U.S. Treasury Department’s Office of Foreign Assets Control’s (“OFAC”) wide latitude to impose Iran sanctions, but it set aside a $4.07 million penalty against car accessory seller...more

OFAC Sanctions 271 Syrian Individuals

by Fox Rothschild LLP on

On Monday, the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) leveled one of the largest sanctions actions in OFAC’s history. OFAC sanctioned 271 employees of Syria’s Scientific Studies and...more

OFAC Offers New Guidance On Getting Off SDN Blacklist

by Fox Rothschild LLP on

On April 20, 2017 the Department of Treasury’s Office of Foreign Assets Control (OFAC) offered new guidance for individuals and entities (and their counsel) who seek to have their names removed from OFAC’s list of Specially...more

OFAC Updates the Specially Designated Nationals List

by Fox Rothschild LLP on

Today the Office of Foreign Assets Control (“OFAC”) updated its Specially Designated Nationals List (“SDN List”). OFAC frequently updates the SDN List to add or remove names as necessary and appropriate....more

Post-Election Update on Cuba

by Carlton Fields on

New Administration’s Cuba Policy Plans - Prior to President Trump’s inauguration, and in an effort to continue normalizing U.S.-Cuba relations, President Obama ended the "wet-foot, dry-foot" policy which since 1995 has...more

From Obama to Trump – Sanctions Roundup

by King & Spalding on

The Office of Foreign Assets Control (OFAC) of the U.S. Department of Treasury has issued several significant updates to various sanctions programs over the last several weeks. Beginning during President Barack Obama’s last...more

OFAC Increases Civil Monetary Penalties

by Kelley Drye & Warren LLP on

On February 10, 2017, the U.S. Treasury Department announced an increase in civil monetary penalties across a number of Treasury offices, including the Office of Foreign Assets Control (OFAC). Understanding the potential...more

Changes to Sudanese Sanctions Program Could Benefit U.S. Life Sciences Companies (A Little)

by Arnall Golden Gregory LLP on

On January 13, 2017, President Obama signed the Executive Order “Recognizing Positive Actions by the Government of Sudan and Providing for the Revocation of Certain Sudan-Related Sanctions” that revoked many U.S. economic...more

OFAC Authorizes Certain Dealings with Russian Security Agency

by Allen & Overy LLP on

In its first public statement since the inauguration, the US Department of Treasury’s Office of Foreign Assets Control (OFAC) announced on February 2, 2017, that it had authorized limited dealings with the Federal Security...more

U.S. Designates New Individuals and Entities for Iran-Related Sanctions

by Reed Smith on

Today, the U.S. Treasury Department, Office of Foreign Assets Control (“OFAC”) imposed sanctions on an additional 13 individuals and 12 entities identified by the Treasury Department as “entities and individuals involved in...more

General License for Commercial Authorizations from Sanctioned Russian Security Agency

OFAC has issued a new General License to address problems raised by the sanctioning of the Federal Security Services (FSB). This adjustment serves to authorize permits by the FSB needed for certain commercial transactions...more

Leaving on a Reconciliatory Note: President Obama Ends His Term with a Substantial Easing of the Sudanese Sanctions Regime

by Allen & Overy LLP on

The U.S. Department of the Treasury (Treasury) recently announced a significant relaxation of the U.S. sanctions with respect to Sudan that are currently administered by the Office of Foreign Assets Control (OFAC). The...more

Amid Wave of Final Executive Actions, President Obama Eases Sanctions Against Sudan

On January 13, 2017, the White House issued an executive order revoking significant aspects of the sanctions in place against Sudan (that have been in effect since 1997). In conjunction with the announcement, the Treasury...more

Obama Administration Announces Relief of Sudan Sanctions Measures

by K&L Gates LLP on

On January 13, 2017, President Barack Obama signed an Executive Order (the “Sudan Executive Order”) that will effectively revoke, after six months (i.e., on July 12, 2017), the U.S. trade embargo against Sudan, provided the...more

OFAC Issues General License Authorizing Most Transactions with Sudan

by King & Spalding on

On January 13, 2017, President Obama signed Executive Order 13761 (“E.O. 13761”), “Recognizing Positive Actions by the Government of Sudan and Providing for the Revocation of Certain Sudan-Related Sanctions.” Effective July...more

U.S. Issues General License Authorizing Trade and Financial Dealings with Sudan

by BakerHostetler on

On Jan. 13, 2017, President Barack Obama signed Executive Order 13761 (the Executive Order) authorizing the lifting of portions of the United States’ trade and financial sanctions on Sudan. The action is the result of...more

OFAC Issues New General License to Significantly Lift Sudan Sanctions

by Reed Smith on

On January 13, 2017, President Obama made sweeping changes to the Sudan sanctions program, removing the majority of the sanctions in place against this war-torn nation. The final decision will be in the hands of...more

Iran and Russia Sanctions Programs Under a Trump Administration–What to Expect

by Baker Donelson on

In the final weeks of December, President Obama amended sanctions to both the Iran and Russia programs. These changes further relaxed sanctions on Iran while they tightened sanctions on Russia. Yet, just three days from the...more

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Cybersecurity

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