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Cross-Border Transactions Foreign Policy Office of Foreign Assets Control (OFAC)

The Volkov Law Group

OFAC Designates Gazprombank for Inclusion on SDN List

The Volkov Law Group on

In a significant development underscoring the U.S. government’s continued efforts to counter Russia’s destabilizing activities, the U.S. Department of the Treasury recently announced the designation of Gazprombank as a...more

Holland & Hart LLP

OFAC Redefines the Term “Significant Transnational Criminal Organization,” Broadening Its Reach

Holland & Hart LLP on

The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has implemented the President’s prior revision of the definition of “significant transnational criminal organization” (significant TCO) by...more

Akin Gump Strauss Hauer & Feld LLP

Treasury Imposes Additional Restrictions on Remittances to Cuba and “U-Turn” Transactions

On September 9, 2019, the Trump administration implemented additional U.S. sanctions on Cuba by restricting personal remittances to Cuba and eliminating authorization for U.S. banks to process “U-turn” transactions involving...more

Hogan Lovells

U.S. moves towards (but stops short of) complete embargo on Venezuela

Hogan Lovells on

On 5 August 2019 the Trump administration issued Executive Order 13884 (the executive order) imposing sweeping sanctions against the government of Venezuela, including its agencies and instrumentalities as well as any...more

Akin Gump Strauss Hauer & Feld LLP

Iran Sanctions Are Here—Breaking Down What This Means For Business

• As of November 5, 2018, the United States concluded the second of two wind-down periods for re-imposition of U.S. sanctions on Iran following the May 8, 2018, announcement that the United States would cease participation in...more

Akin Gump Strauss Hauer & Feld LLP

Podcast: Sanctions and Transactions

In this episode, Akin Gump cross-border transactions partner Melissa Schwartz discusses economic sanctions and their impact on transactions, specifically, how businesses minimize the risk they face of sanctions violations. ...more

Akin Gump Strauss Hauer & Feld LLP

The Export Control Reform Act and Possible New Controls on Emerging and Foundational Technologies

• ECRA became law on August 13, 2018. It is the permanent statutory authority for the EAR, which is administered by the U.S. Department of Commerce’s BIS. The new law codifies long-standing BIS policies and does not require...more

Holland & Knight LLP

U.S. Revokes Certain Authorizations Related to Iran, Issues "Wind-Down" Regulations

Holland & Knight LLP on

• The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) revoked certain Iran-related "general licenses" that allowed U.S. and U.S.-owned foreign entities to engage in certain transactions and...more

Holland & Knight LLP

How Will the United States’ Withdrawal From the Iran Nuclear Accord Affect the Aviation Industry?

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On May 8, President Trump announced that the United States is withdrawing from the multilateral nuclear accord with Iran known as the Joint Comprehensive Plan of Action (JCPOA). The U.S. will reimpose sanctions suspended...more

Holland & Knight LLP

The U.S. Will Reimpose Sanctions on Iran: What Companies Need to Know

Holland & Knight LLP on

• The United States is withdrawing from the multilateral nuclear accord with Iran known as the Joint Comprehensive Plan of Action (JCPOA). • The U.S. sanctions waived by President Barack Obama under the JCPOA will be...more

Hogan Lovells

Ahead of Maduro Power Play, Trump Administration Sanctions Venezuelan Officials

Hogan Lovells on

Ahead of a Constituent Assembly that could re-write the Venezuelan Constitution and dissolve state institutions, the U.S. Treasury Department’s Office of Foreign Assets Control has designated 13 current and former Venezuelan...more

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