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OFAC lifts certain sanctions on Syria, broad export controls remain in place

General License (GL) 25 authorizes transactions previously prohibited by various regulations. Specifically, Section (a) broadly authorizes activities previously prohibited under the Office of Foreign Asset Control (OFAC)’s...more

U.S. State Department reinstates Cuba Restricted List

The U.S. Department of State has formally republished the Cuba Restricted List, restoring prohibitions on direct financial transactions with numerous Cuban military, intelligence, and security-linked entities. This move...more

OFAC takes the position that certain kinds of SDN participation in public conferences is not a prohibited service under U.S....

The U.S. Department of Treasury’s Office of Foreign Assets Control issued a formal guidance letter stating that certain kinds of Specially Designated Nationals could speak at a public conference to share their individual...more

The United States and the United Kingdom impose new sanctions against the Russian energy sector

New U.S. and UK sanctions target Russia’s energy sector and supporting infrastructure. On January 10, 2025, the United States and the United Kingdom imposed additional sanctions against Russia, with a focus on its energy...more

FATF updates its grey list to add Algeria, Angola, Côte d’Ivoire, and Lebanon and remove Senegal

The Financial Action Task Force (FATF) has updated its ‘grey list’ of jurisdictions under increased monitoring, removing Senegal and adding Algeria, Angola, Côte d’Ivoire, and Lebanon. The intergovernmental organization made...more

U.S. BIS issues guidance on export control best practices for financial institutions

The U.S. Department of Commerce’s Bureau of Industry and Security (BIS) recently issued new guidance for financial institutions (FIs) to comply with the Export Administration Regulations (EAR). Released on 9 October 2024, the...more

OFAC issues statute of limitations guidance for US sanctions violations and recordkeeping

The US Department of the Treasury’s Office of Foreign Assets Control has released guidance following on Congress’ extension of the statute of limitations for violations of certain sanctions and related recordkeeping...more

OFAC issues new standards for submissions and supporting documents

The Office of Foreign Assets Control (OFAC) of the U.S. Department of the Treasury has issued guidance on best practices for submitting information and documents in response to OFAC administrative subpoenas, requests for...more

OFAC issues interim final rule amending blocked property and other reporting requirements

The Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) issued an interim final rule set to take effect August 8, 2024, which amends the Reporting, Procedures, and Penalties Regulations (the “Regulations”)...more

Statute of limitations extended for violations of U.S. sanctions

Congress has doubled the statute of limitations for violations of most U.S. sanctions programs administered by the U.S. Department of the Treasury’s Office of Foreign Assets Control.  Companies should be aware of the...more

Deepened UK-U.S. collaboration: Celebrating the first anniversary of the OFAC–OFSI partnership

October 2023 marked the first anniversary of the enhanced partnership between the United States Department of the Treasury’s Office of Foreign Assets Control (OFAC) and the United Kingdom Office of Financial Sanctions...more

U.S. agencies signal reinforced export enforcement collaboration and partnership

The U.S. Departments of Commerce, Justice and Treasury have issued a “Tri-Seal” Compliance Note regarding national security laws and regulations and the voluntary self-disclosure of potential violations, highlighting...more

Intelligence sharing alliance to formalize export controls enforcement cooperation efforts

The US Bureau of Industry and Security has announced that the “Five Eyes” countries have committed to formally coordinate on export controls enforcement. The intelligence alliance member countries hope to increase enforcement...more

Significant new U.S., UK and EU measures mark anniversary of Russia’s invasion of Ukraine

On 24 February 2023, the U.S. intensified its sanctions on Russia and released new trade control measures targeting key sectors, evasion efforts, and military supplies. Taken together, the additional sanctions, export...more

Disruptive Technology Strike Force to enforce U.S. laws protecting advanced technologies

On February 16, 2023, the Department of Justice (DOJ) and the Department of Commerce (Commerce) announced the creation of a joint Disruptive Technology Strike Force (Strike Force). The Strike Force will be co-led by the...more

Aerospace & Defense Insights | DDTC outlines expectations for global compliance

Through Aerospace & Defense Insights, we share with you the top legal and political issues affecting the aerospace and defense (A&D) industry. Our A&D industry team monitors the latest developments to help our clients stay in...more

U.S. defense article and services trade regulator outlines expectations for global compliance

The U.S. Department of State, Bureau of Political-Military Affairs, Directorate of Defense Trade Controls, which regulates the brokering, export, reexport, retransfer, and temporary import of defense articles and services,...more

Update: U.S. sanctions regarding Russian-origin crude oil and price cap

On 2 December 2022, the US Department of the Treasury issued a press release announcing a $60/barrel price cap that will apply to the prohibition on US persons from engaging in a broad range of services related to the...more

OFAC issues guidance on implementation of G7 price cap on Russian crude oil and petroleum products

On 9 September 2022, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) published “Preliminary Guidance on Implementation of a Maritime Services Policy and Related Price Exception for Seaborne...more

U.S. prohibits imports of Russian gold and imposes new sanctions in latest measures against Russia

The U.S. Government has imposed additional punitive measures against Russia in response to Russia’s actions in Ukraine.  The new measures include a prohibition on imports of Russian gold into the United States, new SDN and...more

OFAC Authorizes Transactions in Listed Sectors in Connection with Non-Regime Held Areas of Syria

The Office of Foreign Assets Control (“OFAC”) issued General License (“GL”) No. 22 on May 12, 2022, authorizing transactions that are ordinarily incident and necessary to activities that occur in specified, non-regime held...more

Summary of February 24 U.S. sanctions and export controls on Russia

On February 24, 2022, the US Government imposed severe economic sanctions and export controls on Russia. The restrictions consist of two parts: 1) significant financial sanctions on a range of Russian financial institutions...more

Blocking Regulation: The first step towards solving the conflict of laws between EU and US sanctions

The Court of Justice of the EU has interpreted for the first time the Blocking Regulation. The ruling confirms that it is possible to terminate contracts with a US designated person without providing reasons. However, in...more

New law bans imports from Xinjiang unless importer proves goods were not made with forced labor

On December 23, 2021, President Joe Biden signed into law the Uyghur Forced Labor Prevention Act (“UFLPA”). Most notably, the UFLPA strengthens the enforcement of Section 307 of the Tariff Act of 1930 by imposing a rebuttable...more

Ransomware sanctions and the U.S. Government's latest strategy to address cyber threats

The decision to pay millions to a cyber criminal has never been easy, but it is now even more complex. The U.S. Department of Treasury’s Office of Foreign Assets Control (OFAC) issued an updated advisory on September 21,...more

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