The recently announced sanctions by the U.S. Department of Treasury’s Office of Foreign Assets Control (OFAC) sent shockwaves through the Russian financial system, forcing the Moscow Exchange (MOEX) to halt trading of U.S....more
The U.S. Government recently announced the largest round of sanctions against the Russian Federation (Russia) since the invasion of Ukraine two years ago. This multi-agency effort enacted over 500 sanctions against foreign...more
3/7/2024
/ Bureau of Industry and Security (BIS) ,
Due Diligence ,
Economic Sanctions ,
EU ,
Executive Orders ,
Export Administration Regulations (EAR) ,
Export Controls ,
Financial Institutions ,
Military Conflict ,
National Security ,
Office of Foreign Assets Control (OFAC) ,
Russia ,
Sanction Violations ,
Supply Chain ,
UK ,
Ukraine
On September 30, 2022, the United States instituted new sanctions to address the ongoing Russian-Ukraine conflict. The new sanctions follow the Leaders of the Group of Seven’s (“G7”) statement condemning Russia’s referendum...more
10/19/2022
/ Annexation ,
Bureau of Industry and Security (BIS) ,
Defense Sector ,
Economic Sanctions ,
Export Administration Regulations (EAR) ,
Exports ,
G7 ,
Military Conflict ,
Office of Foreign Assets Control (OFAC) ,
Penalties ,
Russia ,
Ukraine
In a continued theme of increased enforcement of export controls, the Bureau of Industry and Security (“BIS”) of the U.S. Department of Commerce released a memorandum that announced a stricter Administrative Enforcement...more
As the war continues in Ukraine, pressure from the European Union (“E.U.”) and the United States (“U.S.”) continue to mount on Russia’s global interests. On April 6, 2022, the United States issued Executive Order 14071,...more
The Russian Federation’s intensifying war efforts across Ukraine prompted the U.S. government to announce that it will implement a ban on Russian oil and gas imports. Under the ban, the U.S. will not import “Russian crude oil...more
3/10/2022
/ Economic Sanctions ,
Energy Sector ,
EU ,
Export Controls ,
Financial Institutions ,
Natural Gas ,
Oil & Gas ,
Russia ,
Supply Chain ,
Trade Bans ,
UK ,
Ukraine
The United States and the European Union announced new economic sanctions against Russia and Belarus due to the ongoing invasion of Ukraine. It is important to appreciate the timing of the implementation of the sanctions and...more
The international community continues to heighten the compliance burden for companies with business ties to Ukraine and Russia following a new round of sanctions. On February 26, 2022, the United States, along with several...more
3/3/2022
/ Biden Administration ,
Bureau of Industry and Security (BIS) ,
Economic Sanctions ,
Export Controls ,
Financial Institutions ,
NYDFS ,
Office of Foreign Assets Control (OFAC) ,
Russia ,
SDN List ,
SWIFT ,
Ukraine
As the Russian-Ukraine conflict continues to elicit intensifying economic responses from multiple countries, the frequency and rapidity of these new sanctions have left companies scrambling to align their internal and...more
3/2/2022
/ Bureau of Industry and Security (BIS) ,
Debt Restructuring ,
Economic Sanctions ,
EU ,
Office of Foreign Assets Control (OFAC) ,
Russia ,
SDN List ,
Supply Chain ,
SWIFT ,
UK ,
Ukraine
As Russia continues its invasion of Ukraine, the United States and other countries have intensified economic sanctions against the Russian Federation. These sanctions ride on the heels of initial sanctions issued prior to...more
2/28/2022
/ Australia ,
Canada ,
Economic Sanctions ,
EU ,
Export Controls ,
Financial Institutions ,
Japan ,
Russia ,
Supply Chain ,
U.S. Treasury ,
UK ,
Ukraine
Dear Friend of Snell & Wilmer:
The past year brought significant changes across a variety of political, legal, and policy spheres, and the world of U.S. international trade law was no exception. This edition of the...more
1/12/2018
/ Cross-Border Transactions ,
Cuba ,
Department of Justice (DOJ) ,
Economic Sanctions ,
Embargo ,
Enforcement Actions ,
Exports ,
Foreign Corrupt Practices Act (FCPA) ,
Foreign Relations ,
Free Trade Agreements ,
Imports ,
Iran ,
Legislative Agendas ,
NAFTA ,
Proposed Legislation ,
Russia ,
Supply Chain ,
Trade Relations ,
Trump Administration ,
US Trade Policies