In one of the first enforcement actions of 2025, the U.S. Department of Commerce’s Bureau of Industry and Security (“BIS”) issued a final order against Haas Automation, Inc., a leading manufacturer of computer numerical...more
2/5/2025
/ Blocked Person ,
Bureau of Industry and Security (BIS) ,
China ,
Compliance ,
Economic Sanctions ,
Enforcement Actions ,
Entity List ,
Export Controls ,
Foreign Policy ,
Foreign Relations ,
Russia ,
Sanction Violations ,
SDN List ,
US Trade Policies
In a significant development underscoring the U.S. government’s continued efforts to counter Russia’s destabilizing activities, the U.S. Department of the Treasury recently announced the designation of Gazprombank as a...more
1/7/2025
/ Banks ,
Cross-Border Transactions ,
Economic Sanctions ,
Financial Transactions ,
Foreign Financial Institutions (FFI) ,
Foreign Policy ,
Foreign Relations ,
Office of Foreign Assets Control (OFAC) ,
Russia ,
SDN List ,
U.S. Treasury
In one of the more notable enforcement actions of 2024, the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) recently imposed a $1,104,408 civil penalty on a U.S. person for 75 separate violations...more
12/5/2024
/ Economic Sanctions ,
Enforcement Actions ,
Financial Institutions ,
Fines ,
Foreign Policy ,
Foreign Relations ,
Iran ,
Iran Sanctions ,
ITSR ,
Money Services Business ,
Office of Foreign Assets Control (OFAC) ,
Sanction Violations ,
SDN List
In late August 2024, the UK’s Office of Financial Sanctions Implementation (“OFSI”), a department within HM Treasury, imposed a monetary penalty of £15,000 on Integral Concierge Services Limited (“ICSL”)—a UK-based property...more
10/11/2024
/ Civil Monetary Penalty ,
Compliance ,
Economic Sanctions ,
Foreign Policy ,
Foreign Relations ,
Foreign Trade Regulations ,
Office of Financial Sanctions Implementation (OFSI) ,
Property Management Companies ,
Russia ,
Sanction Violations ,
UK ,
Ukraine
The Group of Seven (“G7”) has taken a critical step in bolstering its collective enforcement of export controls and sanctions against the Russian Federation by issuing a historic joint industry guidance document. This move is...more
On July 3, 2024, the Council of the European Union (“EU Council”) officially promulgated a new set of best practices (“best practices” or “guidance”) for organizations seeking to comply with the latest sanctions regulations...more
On July 3, 2024, the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) announced that it had amended entries for a multitude of entities sanctioned under the Treasury’s Russian Harmful Foreign...more
Wabtec Corporation (“Wabtec”)—a global manufacturer and supplier of rail technology headquartered in Pittsburgh, Pennsylvania—recently settled an administrative enforcement proceeding with the U.S. Department of Commerce’s...more
2/8/2024
/ Antiboycott Requirements ,
Bureau of Industry and Security (BIS) ,
Compliance ,
Corruption ,
Enforcement Actions ,
Export Administration Regulations (EAR) ,
Export Controls ,
Foreign Policy ,
Foreign Relations ,
Regulatory Violations ,
US Trade Policies
On December 22, 2023, President Joseph R. Biden, Jr. issued an executive order—”Taking Additional Steps With Respect to the Russian Federation’s Harmful Activities”—that subjects certain foreign financial institutions that...more
1/9/2024
/ Biden Administration ,
CAPTA List ,
Economic Sanctions ,
Executive Orders ,
Financial Transactions ,
Foreign Financial Institutions (FFI) ,
Foreign Policy ,
Foreign Relations ,
Office of Foreign Assets Control (OFAC) ,
Russia ,
U.S. Treasury
On November 6, 2023, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (“FinCEN”) and the U.S. Department of Commerce’s Bureau of Industry and Security (“BIS”) released a new joint notice concerning...more
11/27/2023
/ Bureau of Industry and Security (BIS) ,
Department of Justice (DOJ) ,
Economic Sanctions ,
Export Control Reform (ECR) ,
Export Controls ,
Exports ,
FinCEN ,
Foreign Policy ,
Foreign Relations ,
Joint Statements ,
Popular ,
Russia ,
Suspicious Activity Reports (SARs) ,
U.S. Treasury
On September 27, 2023, the United States Department of Commerce’s Office of Antiboycott Compliance, a division of the Bureau of Industry and Security (“BIS”), publicized an unanticipated and relatively rare enforcement action...more
9/13/2023
/ Antiboycott Requirements ,
Bureau of Industry and Security (BIS) ,
Compliance ,
Corruption ,
Enforcement Actions ,
Export Administration Regulations (EAR) ,
Export Controls ,
Foreign Policy ,
Foreign Relations ,
Popular ,
US Trade Policies