Each quarter, we send many of our clients a quarterly trade compliance update, highlighting important developments over the last few months and summarizing key points for important sanctions programs. About the document: ...more
New announcements and rules expand the scope of existing sanctions and export controls on Russia. This Client Alert is published in the context of ongoing developments and should be read in conjunction with the Latham’s...more
In recognition of the one-year anniversary of Russia’s invasion of Ukraine, the US Department of the Treasury’s Office of Foreign Assets Control (OFAC) and US Department of Commerce’s Bureau of Industry and Security (BIS)...more
This update addresses the full implementation of the price cap policy for crude oil and petroleum products of Russian origin by the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC). On Feb. 3, OFAC...more
Over the last week, the U.S. government, in coordination with partner and allied countries, announced a series of unprecedented escalating sanctions targeting Russia in response to the invasion of Ukraine. These actions...more
The United States and its allies respond to Russia’s invasion of Ukraine with even tougher sanctions against Russia, its leaders, and its leading businesses. Our International Trade & Regulatory Group breaks down the...more
On February 23 and 24, 2022, the United States, through the Department of Commerce’s Bureau of Industry and Security (“BIS”) and the Department of the Treasury’s Office of Foreign Assets Control (“OFAC”), took significant...more
This week, the United States imposed new economic sanctions in response to efforts by the Russian Federation to undermine the sovereignty and territorial integrity of Ukraine. As discussed herein, they consist of: (1) an...more
On February 24, 2022, the U.S. Government issued a number of sanctions measures in response to Russia’s attack on Ukraine. These measures include sweeping financial sanctions and stringent export controls, which will have...more
The United States, along with the European Union, the United Kingdom, and other allies, has announced a new round of significantly tougher sanctions and export controls in response to the expanding Russian military invasion...more
The situation in the Ukraine remains highly fluid and reactions from the United States and allies continue to evolve. This is the first of a series of advisory alerts from Venable in response to the ongoing situation....more
The Biden Administration and several allied countries announced on February 22 new economic sanctions on Russia and the separatist territories in Ukraine. In the United States, the sanctions target only certain Russian...more
In a major announcement and escalation of the sanctions regime targeting President Maduro and Venezuela, on August 5, 2019, the Trump Administration issued a new Executive Order 13884 to block all property of the Venezuela...more
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
New restrictions prohibit dealings between US persons and the Government of Venezuela. On August 5, 2019, President Trump issued Executive Order (E.O.) 13884, entitled “Blocking the Property of the Government of...more
On October 6, 2017, the State Department announced that the U.S. would permanently lift the embargo on Sudan effective October 12, 2017. The decision comes 10 months after President Obama lifted the embargo on an interim...more
On January 13, the US Department of the Treasury's Office of Foreign Assets Control (OFAC) issued a general license that authorizes all transactions with Sudan that were previously prohibited by the Sudanese Sanctions...more
U.S. embargoes and economic sanctions on countries such as Iran, Russia and Cuba were discussed at length by both candidates during the 2016 Presidential campaign, and President-Elect Trump has stated that he intended to...more
With news of the resumption of commercial aviation flights to Cuba, and other changes in the Cuba embargo accomplished through Presidential executive order, it would appear at first blush that the time is ripe to travel to...more
On January 25, the Obama Administration made concurrent announcements about its evolving posture on the Cuban sanctions. On that date, the Office of Foreign Assets Control (OFAC) released more changes to the Cuban Assets...more
Despite the sweeping headlines announcing the lifting of sanctions against Iran, Iran is still generally not open for business for U.S. persons and U.S. businesses. U.S. sanctions relating to terrorism and human rights abuses...more
Crucial Points - - The U.S. government has, by and large, left in place its embargo generally forbidding U.S. companies, citizens and residents, and others in the United States to engage in Iran-related activity. ...more