On February 23, 2024, the Treasury Department’s Office of Foreign Assets Control (“OFAC”) and Department of State together announced more than 500 sanctions designations targeting government officials, companies, and...more
On December 22, 2023, President Biden issued Executive Order 14114, which amended previous Executive Orders in order to authorize the US Treasury Department’s Office of Foreign Assets Control (“OFAC”) to impose additional...more
Last week, President Biden issued an Executive Order outlining the long-anticipated proposed restrictions on outbound U.S. investments in entities located in China or otherwise subject to China’s jurisdiction. The Executive...more
8/17/2023
/ Advanced Notice of Proposed Rulemaking (ANPRM) ,
Artificial Intelligence ,
Biden Administration ,
China ,
Electronics ,
Executive Orders ,
Foreign Investment ,
ITAR ,
National Security ,
Office of Foreign Assets Control (OFAC) ,
Outbound Transactions ,
Semiconductors ,
Technology Sector ,
U.S. Treasury
On June 28, 2022, the Department of Treasury’s Financial Crimes Enforcement Network (“FinCEN”) and the U.S. Department of Commerce’s Bureau of Industry and Security (“BIS”) issued a Joint Alert urging financial institutions...more
7/1/2022
/ Belarus ,
Bureau of Industry and Security (BIS) ,
Corporate Counsel ,
Economic Sanctions ,
Export Controls ,
Financial Institutions ,
FinCEN ,
Russia ,
U.S. Commerce Department ,
U.S. Treasury ,
Ukraine
This blog post covers several new sanctions and export controls that the U.S. government imposed on Russia and Belarus in the time period occurring between March 31, 2022 and April 21, 2022. ...more
4/25/2022
/ Bureau of Industry and Security (BIS) ,
CAPTA List ,
Commerce Control List ,
ECCNs ,
Economic Sanctions ,
Export Administration Regulations (EAR) ,
Export Controls ,
Foreign Direct Product Rule ,
General Licenses ,
Office of Foreign Assets Control (OFAC) ,
Presidential Proclamations ,
Russia ,
SDN List ,
Trade Relations ,
U.S. Commerce Department ,
U.S. Treasury ,
Ukraine
On March 24, 2022, the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) updated the Specially Designated Nationals and Blocked Persons List (“SDN List”) with hundreds of new designations pursuant to...more
On February 24, 2022, the U.S. imposed sweeping sanctions and export controls actions in response to the Russian Federation’s (“Russia”) “war of choice” against Ukraine. ...more
3/8/2022
/ Bureau of Industry and Security (BIS) ,
Economic Sanctions ,
European Central Bank ,
Executive Orders ,
Export Administration Regulations (EAR) ,
Export Controls ,
General Licenses ,
Joe Biden ,
Office of Foreign Assets Control (OFAC) ,
Russia ,
SDN List ,
SWIFT ,
U.S. Commerce Department ,
U.S. Treasury ,
Ukraine
On February 22, 2022, one day after the Russian Federation formally recognized the Donetsk People’s Republic (“DNR”) and Luhansk People’s Republic (“LNR”) of Ukraine as “independent states” and the Biden Administration...more
2/23/2022
/ Banks ,
CBW Act ,
Economic Sanctions ,
Energy Sector ,
Export Administration Regulations (EAR) ,
Financial Services Industry ,
General Licenses ,
Office of Foreign Assets Control (OFAC) ,
Russia ,
SDN List ,
SSI List ,
U.S. Commerce Department ,
U.S. Treasury ,
Ukraine
During the past month, the U.S. Department of Treasury’s Office of Foreign Assets Control (“OFAC”) has issued three separate rounds of Specially Designated Nationals & Blocked Persons List (“SDN List”) designations in order...more
On August 9, 2021, President Biden issued Executive Order 14038 (the “EO”) which expanded the scope of the national emergency previously declared in EO 13405 of June 16, 2006. The EO imposes additional sanctions in response...more
Recently, the U.S. Treasury Department’s Office of Foreign Assets Control (“OFAC”) sanctioned various individuals and entities connected to Russia’s technology sector and also expanded sanctions against dealings in Russian...more
4/21/2021
/ Biden Administration ,
Cyber Attacks ,
Cyber Crimes ,
Defense Sector ,
Election Interference ,
Executive Orders ,
Export Controls ,
Foreign Policy ,
Office of Foreign Assets Control (OFAC) ,
Popular ,
Russia ,
Sanctions ,
SDN List ,
Sovereign Debt ,
State-Owned Enterprises ,
Technology Sector ,
U.S. Treasury
On February 1, 2021, the military of Burma (Myanmar) in an unanticipated coup d’état installed General Min Aung Hlaing as leader and detained the country’s top elected leaders, including the President and Prime Minister. In...more
The U.S. Department of State (“State Department”) announced the imposition of sanctions on Turkey’s Presidency of Defense Industries (“SSB”) pursuant to Section 231 of the Countering America’s Adversaries Through Sanctions...more
12/21/2020
/ CAATSA ,
Directorate of Defense Trade Controls (DDTC) ,
Export Administration Regulations (EAR) ,
ITAR ,
List of Specified Persons (LSP) ,
Office of Foreign Assets Control (OFAC) ,
Russia ,
Sanctions ,
Turkey ,
U.S. Commerce Department ,
U.S. Treasury ,
US State Departments
New U.S. sanctions on Syria took effect on June 17, 2020 as a result of the “Caesar Syria Civilian Protection Act of 2019” (“Caesar Act”) that was signed into law on December 20, 2019 as part of the National Defense...more
The U.S. Treasury’s Office of Foreign Assets Control (“OFAC”) has recently issued two new General Licenses to extend pre-existing authorizations for transactions with GAZ Group that would otherwise be prohibited under OFAC’s...more
On Sunday, January 27, 2019, the U.S. Department of Treasury’s Office of Foreign Assets Control (“OFAC”) announced the lifting of sanctions imposed on En+ Group plc (“En+”), UC Rusal plc (“Rusal”) and JSC EuroSibEnergo...more