News & Analysis as of

Vessels Sanctions

Hogan Lovells

BIS issues final rule restricting additional exports and reexports to Cuba

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On 21 October 2019 the Bureau of Industry and Security (BIS) issued a final rule amending Cuba-related provisions in the Export Administration Regulations (EAR). The new rule further restricts exports and reexports of...more

Holland & Knight LLP

Trump Administration Eliminates People-to-People Travel to Cuba - Changes in Regulations Will Have Major Effect on Private...

Holland & Knight LLP on

• The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) and the U.S. Department of Commerce's Bureau of Industry and Securities (BIS) announced changes to the Cuban Assets Control Regulations (CACR)...more

Akin Gump Strauss Hauer & Feld LLP

New Cuba Sanctions Measures Prohibit “People to People” Travel to Cuba and Restrict Use of Commercial Aircraft and Recreational...

In a June 4 announcement, the Trump administration further ratcheted up U.S. sanctions and export controls against Cuba by prohibiting group “people-to-people” travel to Cuba and the use of noncommercial aircraft and...more

Cozen O'Connor

OFAC and BIS Changes to Cuba Sanctions Further Ease Trade and Travel Restrictions

Cozen O'Connor on

On October 14, 2016, the Treasury Department’s Office of Foreign Assets Control (OFAC) and the Commerce Department’s Bureau of Industry and Security (BIS) published another round of amendments to the Cuban Assets Control...more

Carlton Fields

Changes in Cuba May Impact the Insurance Industry

Carlton Fields on

While much remains to be determined, the recent easing of U.S. restrictions on travel to and trade with Cuba may bring opportunities for U.S. and global insurance companies. However, many questions and obstacles remain. This...more

WilmerHale

Enhanced North Korea Sanctions Adopted

WilmerHale on

The United Nations Security Council (“UNSC”) approved a Resolution last week imposing new sanctions against North Korea in response to its recent nuclear and missile tests. This UNSC action follows the enactment of the North...more

Sheppard Mullin Richter & Hampton LLP

The Day of North Korea Sanctions: the UN Imposes the Toughest North Korea Sanctions Yet While OFAC and State Designate More North...

After weeks of negotiations and a Putin-backed delay, the UN Security Council unanimously adopted resolution 2270 on March 2, 2016, imposing new sanctions against North Korea. According to U.S. Secretary of State John Kerry,...more

Parker Poe Adams & Bernstein LLP

Trading with Cuba: Too soon to mix up the Cuba Libres?

Now that the Obama administration has loosened its restrictions on Cuba, you’re ready to sell your widgets to a Havana factory, right? Not so fast! Although you may be able to do some things in or with Cuba that you couldn’t...more

Skadden, Arps, Slate, Meagher & Flom LLP

"OFAC and BIS Further Ease Cuba Restrictions"

On September 21, 2015, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) and the U.S. Department of Commerce’s Bureau of Industry and Security (BIS) amended their respective Cuba regulations to...more

Carlton Fields

New York-Based Marine Insurer Settles Potential U.S. Sanctions Violations

Carlton Fields on

As if to provide a not-too-subtle reminder to insurers of the applicability of U.S. trade sanctions to their businesses, the Treasury Department’s Office of Foreign Asset Control (OFAC) announced on August 6, that a New...more

Davis Wright Tremaine LLP

Insurers Take Notice: Don’t Become a Casualty of Trade Sanctions Violations!

The U.S. Department of Commerce’s Office of Foreign Assets Control (OFAC) announced that Navigators Insurance Company, which is headquartered in New York and specializes in marine insurance and related lines of business,...more

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