Sanctions

News & Analysis as of

Normalizing U.S. Relations with Cuba: What is ahead?

On December 17, President Obama announced that he will take steps to normalize relations with Cuba, prompting questions about what this means for an island nation that has existed under a Cold War-era embargo for more than 50...more

Turnin’ Havana to Atlanta: The White House Opens Doors for U.S. Telecommunications Investment in Cuba and Latin America

Historic changes in relations between the United States and Cuba (that touch nerves in Hip-Hop and on Capitol Hill) and new U.S. sanctions against Venezuela may provide increased opportunities for U.S. business generally, and...more

U.S.-Cuba Relations: What the President Actually Did

Against the backdrop of a dramatic prisoner swap and almost eighteen months of “secret” negotiations between the U.S. and Cuba—facilitated by Canada, the Vatican, and others—President Barack Obama announced on December 17,...more

New Sanctions-Easing Initiative Could Mean New Opportunities in Cuba

President Obama recently announced changes to U.S.-Cuba policy, opening diplomatic relations with Cuba more than 50 years after the imposition of the Cold War-related sanctions against the country. The full scope of the...more

New Russian Sanctions Legislation

On December 18, the President signed legislation passed by Congress that authorizes further sanctions on Russia.  The Ukraine Freedom Support Act of 2014 (UFSA) is aimed to assist “in restoring Ukraine’s sovereignty and...more

Obama Administration Announces Historic Easing of Economic Sanctions Against Cuba

On December 17, 2014, the Obama Administration announced the prospective easing of some restrictions in the U.S. economic embargo on Cuba (the “Economic Sanctions”). The Obama Administration had laid the groundwork for...more

Canada Imposes New Trade Restrictions on Russia’s Oil Exploration and Extraction Sector

On Friday, December 19, 2014, the Government of Canada announced amendments to the Special Economic Measures (Russia) Regulations to impose product-specific restrictions on the supply of certain goods to Russia’s oil sector,...more

Trade Sanctions Roundup: U.S. Closes Out 2014 with Major Actions on Cuba, Russia, and Syria

The end of 2014 has seen major developments in U.S. foreign relations and sanctions policy with broad implications for the maritime industry. On December 17, President Obama announced a paradigm shift in relations with Cuba,...more

U.S. Government Resets Cuban Policy and Eases Sanctions Against Cuba

Yesterday, President Obama announced that the United States and Cuba will begin talks to resume full diplomatic relations and partially lift travel and economic sanctions and restrictions, some of which have existed for more...more

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

One Step Closer to Normalizing Relations with Cuba

Today, in response to Cuba’s release of American prisoner Alan Gross, President Obama announced that his administration will begin taking steps to normalizing relations with Cuba. While the Obama administration can ease the...more

The United States and Cuba to Restore Diplomatic Relations

On December 17, 2014, President Barack Obama announced that the United States will resume diplomatic relations with Cuba after more than 50 years. In addition to relaxing certain economic restrictions, the President announced...more

Cuba Revisited

On December 17 President Obama announced a plan to normalize relations with Cuba and open a US Embassy in Havana. The President also asked Congress to reconsider the trade embargo with Cuba which has been in place since...more

President Obama Announces Sweeping Changes to United States’ Diplomatic Relationship with Cuba

No changes in connection with the U.S. – Cuba embargo and sanctions will be effective until OFAC and the Commerce Department formally revise their respective regulations and general licenses to implement the President's new...more

U.S. Announces Major Policy Shift on Cuba

On December 17, 2014, President Obama announced the beginning of major reforms regarding the relationship between the United States and Cuba. In a statement made from the White House, President Obama announced that the...more

Obama to Sign Venezuela Sanctions Bill

Last week, the U.S. Congress passed S. 2142 (the “Venezuela Defense of Human Rights and Civil Society Act of 2014”) and presented the legislation to President Obama for signature. White House officials have indicated that...more

U.S. Embargo Against Cuba: Historic Changes Ahead

On December 17, 2014, President Barack Obama announced sweeping changes in the diplomatic and trade relationships between the United States and Cuba. These changes, outlined below, will require time to implement; certain...more

President Obama’s Announcement on U.S.-Cuban Relations Could Create Strategic Opportunities for American Companies

On December 17, 2014, the United States announced its intention to normalize diplomatic relations with Cuba. President Obama stated that, after nearly 54 years of economic and political isolation, his administration will be...more

FINRA Sanctions 10 Banks for Conflicts-Of-Interest Violations

On December 11, FINRA fined 10 financial firms a total of $43.5 million dollars for allegedly violating the industry-regulator’s conflict of interest rules. According to FINRA, in pitch meetings, the firms’ equity research...more

A New U.S. Course for Cuba Relations: What Does It Mean for Business?

President Obama made an unexpected announcement this week signaling a “new course” for Cuba after more than fifty years of comprehensive U.S. sanctions. Reestablishing diplomatic relations is a major change. In terms of...more

New Law Significantly Expands Legal Basis for US Sanctions Against Russia

On 16 December 2014, President Obama announced that he will sign the Ukraine Freedom Support Act of 2014 (hereinafter the “Act”) into law. As discussed in our update dated 12 December 2014, the Act represents a potentially...more

Top 10 Things to Know About President Obama’s Cuba-Related Announcement

While signalling a dramatic shift in the US-Cuba relationship, the President’s authority to lift sanctions is limited in several key respects. On December 17, 2014, President Obama announced that the United States will...more

U.S. Congress Passes Russia Sanctions Legislation

On Saturday, the U.S. Congress passed the Ukraine Freedom Support Act of 2014 (H.R. 5859), which, once signed by the president, will impose or authorize broad sanctions on Russia’s energy and defense sectors and increase...more

Fabricating Evidence and Losing Arbitration

Seagate Tech., LLC v. W. Digital Corp - Addressing an issue of whether an arbitrator inappropriately sanctioned a party that had been found to have fabricated evidence and whether the arbitrator refused to consider...more

Council of EU Presidency Compromise on Regulation on ECB’s Powers to Impose Sanctions

On December 11, the Council of the EU published a note (dated December 10) that amends the ECB’s powers to impose sanctions. The ECB published its recommendation for a Council Regulation in April 2014....more

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