News & Analysis as of

Economic Sanctions

Foley Hoag LLP

New OFAC General License Opens Door to Venezuelan Oil for U.S. Entities

Foley Hoag LLP on

Key Takeaways: U.S. entities can now trade in Venezuelan oil without violating the Venezuela Sanctions Regulations. The Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) has issued a general license...more

Holland & Knight LLP

The Maritime Sector: A "Front Line" of U.S. Sanctions

Holland & Knight LLP on

The maritime shipping sector has become a key target of sanctions policymakers and enforcement agencies in the U.S., European Union and United Kingdom as government authorities in these jurisdictions seek to advance national...more

Eversheds Sutherland (US) LLP

New OFAC General Licenses Set The Stage For Renewed US And International Engagement In Venezuela’s Energy Sector

The Trump Administration has issued two new General Licenses (GLs) authorizing limited engagement in Venezuela’s oil trading sector. More licenses are anticipated in the coming days or weeks, affecting upstream and downstream...more

Orrick, Herrington & Sutcliffe LLP

U.S. Treasury Authorizes Venezuelan Oil Deals Under Strict Conditions

In the first relaxation of sanctions broadly prohibiting dealings with the Government of Venezuela, the Office of Foreign Assets Control (OFAC) issued General License 46 (the GL) on January 29, 2026, authorizing petroleum...more

Blank Rome LLP

Spotlight on …

Blank Rome LLP on

How did you begin your career in the maritime industry, and what early experiences shaped your professional path? I started in the maritime industry in the early 1990s, right out of law school, as a staff attorney and...more

Holland & Knight LLP

OFAC Authorizes Certain Venezuelan Oil Sector Activities Following Venezuelan Reform​

Holland & Knight LLP on

The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) has issued two general licenses to provide limited sanctions relief for Venezuela's oil sector after the Venezuelan National Assembly passed...more

Akin Gump Strauss Hauer & Feld LLP

OFAC Issues General License 46, Authorizing Certain Activities Involving Venezuelan-Origin Oil

Subject to conditions and exceptions, General License (GL) 46 authorizes—without any time limitation—all transactions that are ordinarily incident and necessary to the lifting, exportation, reexportation, sale, resale,...more

Akin Gump Strauss Hauer & Feld LLP

Oil & Gas in 2026: Trade Policy

Since the day President Trump arrived at the White House, international trade policy has been at the top of his agenda, starting with the release of the “America First Trade Policy Memo,” which he released on the first day of...more

BCLP

New OFSI Decision Gives Best Guidance Yet on Sanctions Due Diligence

BCLP on

On 26 January 2026, the Office of Financial Sanctions Implementation (“OFSI”) provided its clearest guidance yet on the baseline level of due diligence it expects businesses to undertake when assessing sanctions risks. ...more

Braumiller Law Group, PLLC

Hot Topics in International Trade - February 2026 - BRICS: An Update and a Challenge

Has BRICS finally produced an alternative to the “petrodollar” after twenty years? And does it live up to the hype? Depending on where you look online, key details are being left out. So, let’s slow down and review what’s...more

Hughes Hubbard & Reed LLP

Sanctions in a Snap: Developments in Sanctions - January 2026

Highlights from January 2026 include OFAC authorizations for certain downstream activities involving Venezuelan oil, negotiations for the eventual acquisition of Lukoil’s international assets and a counternarcotics...more

Mayer Brown

New Executive Order Declares National Emergency and Authorizes Tariffs on Goods from Countries Supplying Oil to Cuba

Mayer Brown on

On January 29, 2026, the White House issued a new Executive Order, “Addressing Threats to the United States by the Government of Cuba” (the “Executive Order”), declaring a national emergency with respect to Cuba and...more

Hogan Lovells

Establishing strong contractual foundations to weather the cross-winds in a volatile world

Hogan Lovells on

You may be a trading house with stakes in battery supply chains that cross continents, a commodities trader with worldwide investments and trading relationships, a mining company or investor with African assets, or have one...more

Husch Blackwell LLP

OFAC Issues General License Authorizing Certain Activities Involving Venezuelan Oil

Husch Blackwell LLP on

On January 29, 2026, the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) issued Venezuela‑related General License 46 (“GL 46”), marking the most significant easing of U.S. restrictions on the...more

Bracewell LLP

United States Eases Sanctions on Venezuelan Oil, Furthering President Trump’s Vision of US Companies Reviving the...

Bracewell LLP on

Hours after the US military strike that ousted Venezuelan President Nicolas Maduro, President Trump announced that, “very large US oil companies, the biggest anywhere in the world” would “go in, spend billions of dollars, fix...more

Mayer Brown

UK Weekly Sanctions Update - Week of January 26, 2026

Mayer Brown on

In this weekly update, we summarise the most notable updates in the UK sanctions world. RUSSIA SANCTIONS - UK Government updates one entry on the UK Sanctions list under the Russia regime...more

Mayer Brown

OFAC Issues New General License Authorizing Established US Companies to Engage in Trade of Venezuelan Oil and Related Activities

Mayer Brown on

On January 29, 2026, the US Department of the Treasury’s Office of Foreign Assets Control (OFAC) issued a new Venezuela-related General License (No. 46), authorizing established US companies to engage in a broad range of...more

Kelley Drye & Warren LLP

OFAC Authorizes Transactions Involving Venezuelan Origin Oil: What Companies Need to Know

On Thursday, January 29, 2026, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) issued a new general license, General License NO. 46 (the License), ​“Authorizing Certain Activities Involving...more

Sheppard Mullin Richter & Hampton LLP

More Trickle than Gusher: OFAC’s New Rules do Not Quite Signal New Venezuelan Oil Rush

In the month since the U.S. took custody of Venezuelan President, Nicolas Maduro, the U.S. oil industry has been buzzing with rumors and speculation on what new opportunities may lie just south of the Caribbean. Venezuela is...more

A&O Shearman

HMT Consultation Response On Reforms To OFSI Civil Enforcement Processes

A&O Shearman on

HM Treasury (HMT) has published a consultation response and blog on proposed reforms to the UK Office of Financial Sanctions Implementation's (OFSI) civil enforcement processes. The reforms aim to increase efficiency in...more

Morgan Lewis

Venezuela Oil Sector Sanctions Update: Analyzing OFAC General License 46

Morgan Lewis on

After weeks of anticipation, the Office of Foreign Assets Control is authorizing certain transactions involving Venezuelan-origin oil by “established US entities.” Likely not the broad sanctions relief the Venezuelan...more

Fenwick & West LLP

OFAC Issues General License Authorizing Oil-Related Activities in Venezuela

Fenwick & West LLP on

The U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) issued General License 46, “Authorizing Certain Activities Involving Venezuelan-Origin Oil” (General License), on January 29, 2026, permitting U.S....more

A&O Shearman

UK OFSI And Partners Crack Down On The Abuse Of cryptoassets

A&O Shearman on

The UK Office of Financial Sanctions Implementation (OFSI) has published a blog confirming that it is working closely with UK law enforcement and regulatory partners to combat the abuse of cryptoassets and associated money...more

Mayer Brown

Russia/Ukraine Sanctions Update - Month of January 2026

Mayer Brown on

I.  US SANCTIONS - Ukraine-Russia Peace Talks End without Agreement: According to Reuters, on January 24, Ukraine and Russia talks, brokered by the U.S., ended without a deal but with more talks expected the following...more

Baker Botts L.L.P.

OFAC Issues General License 46

Baker Botts L.L.P. on

Trump administration authorizes transactions involving Venezuelan oil sector, but subject to detailed conditions to align with U.S. policy objectives. Companies seeking to do business with Venezuela should confirm that their...more

4,405 Results
 / 
View per page
Page: of 177

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide
- hide