The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) on Oct. 12, 2023, designated two tank vessels and their registered owners as Specially Designated Nationals (SDNs) for allegedly transporting...more
The U.S. Department of Justice (DOJ), Department of Commerce's Bureau of Industry and Security (BIS) and Department of the Treasury's Office of Foreign Assets Control (OFAC) on July 26, 2023, issued a Tri-Seal Compliance Note...more
8/2/2023
/ Bureau of Industry and Security (BIS) ,
China ,
Compliance ,
Department of Justice (DOJ) ,
Economic Sanctions ,
Enforcement Authority ,
Export Controls ,
Exports ,
Iran ,
Joint Policy Statements ,
Joint Statements ,
National Security ,
Office of Foreign Assets Control (OFAC) ,
Russia ,
Sanction Violations ,
Self-Reporting
The U.S. Department of Commerce's Bureau of Industry and Security (BIS) took a number of actions under the Export Administration Regulations (EAR) on May 19, 2023. Here are some of the key U.S. export control actions...more
5/25/2023
/ Belarus ,
Belarus Sanctions ,
Bureau of Industry and Security (BIS) ,
Commerce Control List ,
Economic Sanctions ,
Export Administration Regulations (EAR) ,
Export Controls ,
FinCEN ,
Globally Harmonized System ,
Iran ,
Military End Use ,
Office of Foreign Assets Control (OFAC) ,
Russia ,
SDN List ,
Tariffs ,
Ukraine
As an update to an earlier Holland & Knight alert on the same topic, the U.S. Department of the Treasury Office of Foreign Asset Control (OFAC) has published another determination pursuant to Executive Order 14071 expanding...more
2/8/2023
/ Australia ,
Biden Administration ,
Crude Oil ,
Economic Sanctions ,
EU ,
Executive Orders ,
Exports ,
G7 ,
Maritime Transport ,
Military Conflict ,
Office of Foreign Assets Control (OFAC) ,
Oil & Gas ,
Oil Prices ,
Petroleum ,
Russia ,
Tariffs ,
Ukraine
The U.S., European Union (EU), United Kingdom (U.K.) and many other countries have imposed similar but not necessarily identical sanctions on Russia. In corporate jet transactions, the sanctions laws of several jurisdictions...more
5/10/2022
/ Aircraft ,
Beneficial Owner ,
Due Diligence ,
Economic Sanctions ,
EU ,
Export Controls ,
Federal Aviation Administration (FAA) ,
Office of Foreign Assets Control (OFAC) ,
Prohibited Transactions ,
Russia ,
SDN List ,
U.S. Commerce Department ,
UK ,
Ukraine
In the past week, the White House has launched additional salvos of sanctions against the Russian Federation in response to its continued efforts to undermine the sovereignty and territorial integrity of Ukraine. This Holland...more
3/15/2022
/ Biden Administration ,
Economic Sanctions ,
Energy Sector ,
Executive Orders ,
General Licenses ,
Imports ,
Office of Foreign Assets Control (OFAC) ,
Russia ,
Shipping ,
Trade Restrictions ,
Ukraine
• The U.S. Department of State issued public guidance on sanctions with respect to 39 named entities related to Russia's defense and intelligence sectors. This guidance is issued under Section 231 of the Countering America's...more
11/10/2017
/ Arctic Drilling ,
CAATSA ,
Defense Sector ,
Economic Sanctions ,
Energy Sector ,
Executive Orders ,
New Guidance ,
Office of Foreign Assets Control (OFAC) ,
Oil & Gas ,
Russia ,
Secretary of State ,
Secretary of the Treasury ,
Shale Gas ,
SSI List ,
Trump Administration ,
US Department of State
On July 20, 2017, the U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) announced a $2 million civil monetary penalty against Exxon Mobil Corp., including its U.S. subsidiaries ExxonMobil Development...more
8/3/2017
/ Administrative Procedure Act ,
Arbitrary and Capricious ,
Civil Monetary Penalty ,
Due Process ,
Economic Sanctions ,
Exxon Mobil ,
Fifth Amendment ,
Fines ,
Office of Foreign Assets Control (OFAC) ,
Oil & Gas ,
Reckless Disregard ,
Russia ,
Sanction Violations ,
SDN List ,
Ukraine
On July 14, 2015, the U.S., France, China, Russia, United Kingdom, Germany and the European Union (EU) entered into the Joint Comprehensive Plan of Action (JCPOA) with Iran after years of difficult negotiations. Iran agreed...more
7/22/2015
/ China ,
EU Council of Ministers ,
France ,
Human Rights ,
IAEA ,
Iran ,
Iran Sanctions ,
Joint Comprehensive Plan of Action (JCPOA) ,
Non-US Entities ,
Nuclear Weapons ,
Obama Administration ,
Offshore Drilling ,
Russia ,
Sanctions ,
SDN List ,
UK ,
UN Security Council
On July 14, 2015, the United States, France, China, Russia, the United Kingdom, Germany and the European Union (EU) entered into the Joint Comprehensive Plan of Action (JCPOA) with Iran after years of difficult negotiations....more
7/16/2015
/ Banking Sector ,
Banks ,
C-Suite Executives ,
China ,
Compliance ,
Corporate Counsel ,
EU ,
Foreign Corporations ,
France ,
IAEA ,
Imports ,
Iran ,
Iran Sanctions ,
Joint Comprehensive Plan of Action (JCPOA) ,
Office of Foreign Assets Control (OFAC) ,
Oil & Gas ,
Petrochemicals ,
Russia ,
SDN List ,
UK ,
UN Security Council ,
United Nations
Executive Order Relating to the Crimea Region -
On Dec. 19, 2014, in a step coordinated with similar sanctions imposed by the European Union (EU), President Obama issued a new Executive Order targeting the Crimea...more
12/29/2014
/ Banking Sector ,
Barack Obama ,
Crimea ,
Defense Sector ,
Energy Sector ,
Executive Orders ,
Exports ,
Office of Foreign Assets Control (OFAC) ,
Popular ,
Russia ,
Sanctions ,
SDN List ,
UFSA ,
Ukraine
The U.S. Office of Foreign Assets Control (OFAC) issued a fifth round of designations imposing limited sanctions on two Russian banks and two major Russian energy companies. OFAC also designated and blocked the assets of...more
The U.S. Office of Foreign Assets Control (OFAC) issues the fourth round of designations blocking the assets of seven additional Russian individuals as well as 13 Russian companies, including several Russian banks....more
The United States has blocked the assets of a number of senior Russian officials considered to be part of President Putin's inner circle as well as the assets of one Russian bank owned by targeted officials. U.S. companies...more