Sanctions Office of Foreign Assets Control

News & Analysis as of

Post-Election Update on Cuba

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

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

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)

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

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

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

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

Recent OFAC Amendments - Sudan & Iran

Recent OFAC Amendments Make Significant Changes to Sudanese Sanctions Regulations, Expand General Licenses for Agricultural Commodities, Medicine and Medical Devices under the Iran Transactions and Sanctions Regulations, and...more

Obama Administration Announces Relief of Sudan Sanctions Measures

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

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

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

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

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

New General License Authorizes Transactions with Sudan

Effective January 17, 2017, a new general license authorizes a broad range of activities previously prohibited under the Sudanese Sanctions Regulations (SSR), including most transactions with individuals and entities in Sudan...more

United States to Lift Sanctions Against Sudan

On January 13, 2017, the U.S. Department of Treasury’s Office of Foreign Assets Control (OFAC) issued a Final Rule, announcing that it would amend the Sudanese Sanctions Regulations to authorize all transactions previously...more

New U.S. Sanctions Concerning Russia: President Obama Logs Out of 2016 with an Amendment to the U.S. Cyber-related Sanctions...

On December 29, 2016, OFAC (the U.S. Department of the Treasury, Office of Foreign Assets Control) imposed sanctions on five Russian entities and four Russian individuals in connection with their alleged efforts to interfere...more

Smoother Sailing Ahead for Shippers After OFAC Clarifies Cuba Sanctions

On Friday, 6 January 2017, the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) revised its Frequently Asked Questions (FAQs), adding five new FAQs (numbers 86-90) pertaining to vessel transactions with...more

Enforcement Trends: Sanctions and International Risk (Transcript)

How will the regulatory and enforcement landscape change under a new Presidential administration? In this podcast, Michael Casey and Alex Rene of Ropes & Gray’s government enforcement practice group discuss the potential...more

United States Imposes Cybersecurity Sanctions on Russia

Key Points - - This action marks the first time sanctions have been imposed under the Cybersecurity Sanctions Program established on April 1, 2015, with the designation of nine entities and individuals. -...more

Red Notice Newsletter - December 2016

Anticorruption Developments - The U.S. Court of Appeals for the 10th Circuit Rules That the SEC's Use of ALJs is Unconstitutional - On December 27, 2016, the U.S. Court of Appeals for the 10th Circuit ruled 2-1...more

President Obama Sanctions Russia Over Malicious Cyber-Enabled Activities

President Obama amended a previously-issued executive order designed to address cyber-enabled activities yesterday in response to “Russia's cyber activities [that] were intended to influence the election, erode faith in U.S....more

One Step Up: U.S. Export Controls for Pharma/Device Companies

2016 was an active year for U.S. export control developments impacting U.S. pharma/device companies. We expect 2017 also to be busy, especially with the upcoming change in Administrations. This article briefly will review for...more

On the Eve of a New Administration, Sanctions on North Korea Tighten

On November 30, 2016, the United Nations Security Council (UNSC) passed a unanimous resolution strengthening sanctions against North Korea. The Resolution comes in response to the conduct of the latest round of nuclear tests...more

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Cybersecurity

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