2018 brought with it President Trump’s decision that the United States would withdraw from the Joint Comprehensive Plan of Action (“JCPOA”). That signaled the U.S.’s intention not only to reimpose trade sanctions on Iran but...more
A recent enforcement action by the Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) against MasterCard International Incorporated (“MasterCard”) stands as a reminder of the importance of strictly...more
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
8/10/2015
/ Compliance ,
Cuba ,
Insurance Industry ,
Iran ,
Iran Sanctions ,
Liability Insurance ,
North Korea ,
Office of Foreign Assets Control (OFAC) ,
Professional Liability ,
Sanctions ,
Sudan ,
Umbrella Policies ,
Vessels
The Department of the Treasury, Office of Foreign Assets Control (OFAC), amended the Iran personal communications General License D-1 (GL D-1) on Feb. 7, 2014, expanding, clarifying and superseding the May 2013 General...more
The Office of Foreign Assets Control (OFAC) of the U.S. Department of the Treasury enforces comprehensive sanctions that regulate, and largely forbid, most forms of trade and financial transactions by U.S. persons with Iran....more