The Biden Administration’s recent expansion of sanctions and export controls to counter Russian aggression will impact non-U.S. financial institutions and increase compliance risks for the business software sector and other...more
6/24/2024
/ Bureau of Industry and Security (BIS) ,
Economic Sanctions ,
Export Administration Regulations (EAR) ,
Export Controls ,
Foreign Financial Institutions (FFI) ,
General Licenses ,
Information Technology ,
Liquid Natural Gas ,
Office of Foreign Assets Control (OFAC) ,
Russia ,
SDN List ,
Software ,
U.S. Treasury
On May 28, 2024, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) announced amendments to the Cuban Assets Control Regulations (CACR), which expand authorizations for certain financial and...more
6/5/2024
/ Cuba ,
Cuban Assets Control Regulations (CACR) ,
Economic Sanctions ,
Entrepreneurs ,
Export Controls ,
Internet ,
Joe Biden ,
Office of Foreign Assets Control (OFAC) ,
Popular ,
Sole Proprietorship ,
U.S. Treasury
On May 19, 2023, the Biden Administration, in coordination with leaders of the Group of Seven (G7), announced new sanctions and restrictions on 300 individuals, entities, vessels, and aircraft tied to Russia following the G7...more
5/25/2023
/ Biden Administration ,
Bureau of Industry and Security (BIS) ,
Economic Sanctions ,
Entity List ,
Executive Orders ,
Export Administration Regulations (EAR) ,
Export Controls ,
Exports ,
Office of Foreign Assets Control (OFAC) ,
Russia ,
SDN List ,
U.S. Commerce Department
Since the Russian invasion of Ukraine in February 2022, the U.S. government has made it increasingly clear that enforcement of export control and economic sanctions laws is a top priority. From launching task forces to target...more
5/4/2023
/ BSA/AML ,
Bureau of Industry and Security (BIS) ,
Department of Justice (DOJ) ,
Economic Sanctions ,
Entity List ,
Export Administration Regulations (EAR) ,
Export Controls ,
National Security ,
Office of Foreign Assets Control (OFAC) ,
Russia ,
Self-Disclosure Requirements ,
Ukraine ,
Whistleblowers
On February 24, 2023, the Biden Administration, in coordination with leaders of the Group of Seven (G7), announced a new round of economic measures primarily targeting the Russian Federation on the one-year mark of Russia’s...more
3/2/2023
/ Bureau of Industry and Security (BIS) ,
Economic Sanctions ,
Entity List ,
Export Administration Regulations (EAR) ,
Export Controls ,
Office of Foreign Assets Control (OFAC) ,
Russia ,
SDN List ,
Supply Chain ,
Tariffs ,
Ukraine
On December 21, 2022, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC), in consultation with the U.S. Department of State, published two final rules amending its regulations to add or update...more
On September 15, 2022, the Biden Administration announced a new package of sanctions and export controls to hold the Russian government accountable for its war against Ukraine. ...more
9/21/2022
/ Belarus ,
Biden Administration ,
Bureau of Industry and Security (BIS) ,
Corporate Counsel ,
Economic Sanctions ,
Executive Orders ,
Export Administration Regulations (EAR) ,
Export Controls ,
Office of Foreign Assets Control (OFAC) ,
Popular ,
Russia ,
SDN List ,
Technology Sector ,
U.S. Treasury ,
Ukraine ,
US State Departments
On May 8 and 9, 2022, the Biden Administration imposed new Russia-related sanctions and export restrictions, including a prohibition on the provision of certain professional services to any person located in Russia, sanctions...more
5/11/2022
/ Banking Sector ,
Bureau of Industry and Security (BIS) ,
Economic Sanctions ,
Executive Orders ,
Export Administration Regulations (EAR) ,
Export Controls ,
Exports ,
Industrial Sector ,
Media ,
Office of Foreign Assets Control (OFAC) ,
Russia ,
SDN List ,
Television Broadcast Stations ,
U.S. Commerce Department ,
Ukraine
Over the last week, the Biden Administration announced new sanctions and export controls on Russia and “the Putin regime for its atrocities in Ukraine, including in Bucha.” These actions include full blocking sanctions on two...more
On March 31, 2022, the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) imposed sanctions on 21 entities and 13 individuals “as part of its crackdown on the Kremlin’s sanctions evasion networks and...more
4/6/2022
/ Bureau of Industry and Security (BIS) ,
Entity List ,
Executive Orders ,
Export Administration Regulations (EAR) ,
Office of Foreign Assets Control (OFAC) ,
Russia ,
Sanctions ,
SDN List ,
Software ,
Technology Sector ,
U.S. Commerce Department ,
U.S. Treasury
On March 11, 2022, the Biden administration, along with leaders of the Group of Seven (G7), announced a new round of sanctions on Russia following its invasion of Ukraine, which include restrictions on exports of luxury goods...more
UPDATE-
The Department of Commerce’s Bureau of Industry and Security (BIS) released new export restrictions on Belarus that largely mimic those applicable to Russia, including broad licensing requirements and the addition...more
3/4/2022
/ Blocking Sanctions ,
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 ,
Joe Biden ,
Office of Foreign Assets Control (OFAC) ,
Russia ,
SDN List ,
U.S. Treasury ,
Ukraine
*This alert was originally published on February 25, 2022 and updated on March 4, 2022.
On February 24, 2022, the Biden Administration issued another expansive round of sanctions measures and export controls related to...more
2/28/2022
/ Bureau of Industry and Security (BIS) ,
Commerce Control List ,
ECCNs ,
Economic Sanctions ,
Executive Orders ,
Export Administration Regulations (EAR) ,
Export Controls ,
Foreign Direct Product Rule ,
General Licenses ,
Joe Biden ,
Military End Use ,
Office of Foreign Assets Control (OFAC) ,
Russia ,
SDN List ,
Ukraine
On February 22 and 23, 2022, the Biden Administration announced additional sanctions on Russia. The first group of sanctions was announced on February 22, following Russia’s recognition of the so-called Donetsk and Luhansk...more
On February 21, 2022, President Joe Biden issued an Executive Order (EO) in response to Russian President Vladimir Putin’s ongoing “efforts to undermine the sovereignty and territorial integrity of Ukraine.” Referencing a...more
2/23/2022
/ Bureau of Industry and Security (BIS) ,
Economic Sanctions ,
Executive Orders ,
Foreign Policy ,
General Licenses ,
Joe Biden ,
National Security ,
Office of Foreign Assets Control (OFAC) ,
Russia ,
Sanctions ,
SDN List ,
Ukraine
On January 20, 2022, the U.S. Department of the Treasury’s (Treasury) Office of Foreign Assets Control (OFAC) sanctioned four individuals who are acting at the direction of the Russian Federal Security Service (FSB) to...more
Last week, the U.S. Government imposed tough restrictions on U.S. transactions with specific companies in the People’s Republic of China (PRC) that are involved in activities contrary to U.S. foreign policy and national...more
12/21/2021
/ Bureau of Industry and Security (BIS) ,
Child Labor ,
China ,
Entity List ,
Executive Orders ,
Export Administration Regulations (EAR) ,
Forced Labor ,
Joe Biden ,
National Security ,
Office of Foreign Assets Control (OFAC) ,
PRC ,
Securities Exchange Act ,
Surveillance ,
U.S. Commerce Department ,
U.S. Treasury
On April 15, 2021, the Biden Administration took a number of steps to sanction Russia for its role in cyberattacks, election interference, and other malign activities the U.S. government attributed to Moscow. These actions...more
On March 22, 2021, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) announced new sanctions on two officials from the government of the People’s Republic of China (PRC) in connection with human...more
*This alert was originally published on March 3, 2021 and updated on March 18, 2021. UPDATE: On March 18, 2021, the U.S. Department of Commerce’s Bureau of Industry and Security (BIS) expanded export restrictions on Russia...more
On March 2, 2021, the U.S. government announced a number of new measures targeting Russia following the poisoning and jailing of Russian opposition leader Alexey Navalny. The U.S. Departments of Treasury, Commerce, and State...more
On February 11, 2021, the Biden Administration created a new sanctions regime and imposed additional export restrictions in response to the recent military coup in Burma. While the new measures do not broadly prohibit doing...more
On December 14, 2020, the State Department officially rescinded Sudan’s State Sponsors of Terrorism (SST) designation, because Congress did not issue a joint resolution of disapproval. Originally on October 26, 2020,...more