News & Analysis as of

Export Controls Banking Sector Bureau of Industry and Security (BIS)

Orrick, Herrington & Sutcliffe LLP

Financial Institutions Face Greater Export Controls Compliance Risk Under New BIS Guidance

Financial institutions face significant new compliance obligations under export control guidance issued by the Commerce Department’s Bureau of Industry and Security (BIS) last month.  ...more

Sheppard Mullin Richter & Hampton LLP

Banks Do Export, Too: New BIS Guidance Tags Financial Firms with Export Compliance Responsibilities

Pull quote: “Every export—every single one—has a related financial transaction” You are a banker. You do bankery things. You look at the ledgers, you tot up the numbers, you manage the accounts. Maybe you make loans,...more

WilmerHale

Enhanced Global Russian Sanctions and Export Controls to Counter Circumvention

WilmerHale on

On May 19, in response to Russia’s ongoing invasion of Ukraine, the United States, in coordination with allies and partners, announced new sanctions restrictions and export controls targeting Russia’s evasion networks,...more

ArentFox Schiff

What You Need to Know about the New Russia/Belarus Sanctions, Export Controls, Tariffs & Duties

ArentFox Schiff on

On Friday, February 24, the one-year anniversary of Russia’s further invasion into Ukraine, President Biden, the Office of Foreign Assets Control (OFAC), the US Department of State, and the US Department of Commerce, Bureau...more

Bass, Berry & Sims PLC

International Trade Enforcement Roundup – January 2023

Russia - Former Special Agent in Charge of the FBI New York Counterintelligence Division Charged with Violating U.S. Sanctions on Russia (DOJ) Those involved. Charles McGonigal, former Special Agent in Charge of the FBI...more

Wiley Rein LLP

New U.S. Sanctions and Export Restrictions Target Professional Services and Russia’s Media, Banking, Defense, and Industrial...

Wiley Rein LLP on

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

Wilson Sonsini Goodrich & Rosati

New U.S. Sanctions on Russian Banks and Elites, Expanded Export Controls, and Other Updates

The U.S. Department of Treasury’s Office of Foreign Assets Control (OFAC or the Treasury) unveiled a new wave of sanctions targeted against Russia, Russian entities, and Russian individuals during the week of April 4, in...more

Wilson Sonsini Goodrich & Rosati

License Exception ENC Severely Limited for Exports to Russia and Belarus, Belarus Targeted by Biden’s Third Tranche of Controls,...

The Biden administration took further action this week to degrade the ability of Belarus and Russia to sustain a military campaign against Ukraine. The measures are the latest in a series of restrictions levied by the U.S. in...more

Perkins Coie

Sanctioning Russia Over Invasion of Ukraine

Perkins Coie on

On February 21, 2022, Russian President Vladimir Putin unilaterally recognized the Luhansk and Donetsk regions in Eastern Ukraine (Covered Regions) as independent states. Thereafter, Mr. Putin authorized a full-scale invasion...more

Goodwin

Substantial Enhancement of Sanctions and Export Controls Targeting Russia and Belarus, Phase II

Goodwin on

Earlier this week, following Russia’s aggressive incursion into Ukraine, we reported on the imposition of U.S. sanctions in response — a modest response that reserved the heavier sanctions that have been anticipated. On...more

Akin Gump Strauss Hauer & Feld LLP

Red Notice Newsletter - Spanish

ANTICORRUPTION DEVELOPMENTS - DOJ Files Superseding Indictment in Haitian Port Corruption Plot - On October 30, 2018, the U.S. Department of Justice (DOJ) filed a superseding indictment in the District of Massachusetts...more

Akin Gump Strauss Hauer & Feld LLP

Red Notice Newsletter - Russian

ANTICORRUPTION DEVELOPMENTS - DOJ Files Superseding Indictment in Haitian Port Corruption Plot - On October 30, 2018, the U.S. Department of Justice (DOJ) filed a superseding indictment in the District of Massachusetts...more

Akin Gump Strauss Hauer & Feld LLP

Red Notice Newsletter - Chinese

ANTICORRUPTION DEVELOPMENTS - DOJ Files Superseding Indictment in Haitian Port Corruption Plot - On October 30, 2018, the U.S. Department of Justice (DOJ) filed a superseding indictment in the District of Massachusetts...more

Akin Gump Strauss Hauer & Feld LLP

Red Notice Newsletter - October 2018

ANTICORRUPTION DEVELOPMENTS - DOJ Files Superseding Indictment in Haitian Port Corruption Plot - On October 30, 2018, the U.S. Department of Justice (DOJ) filed a superseding indictment in the District of Massachusetts...more

Shumaker, Loop & Kendrick, LLP

Important Changes to Byzantine Cuban Assets Control Regulations

For over 50 years, the ability to travel to Cuba and do business or trade with Cuban nationals has been governed by a byzantine set of regulations administered by the Department of Treasury’s Office of Foreign Assets Control...more

Baker Donelson

You Want to Export to Cuba? Get Ready, But You Probably Can’t Quite Yet.

Baker Donelson on

New rules came out on September 21, 2015 from both the Commerce and Treasury Departments. Although for the most part these changes only slightly broaden or clarify pre-existing exceptions to the embargo against Cuba, they...more

Baker Donelson

New Opportunities in Cuba for U.S. Travel and Medical Companies – Cigars but not Commerce

Baker Donelson on

After President Obama's announcement that his Administration will pursue a policy aimed at improving U.S.-Cuba diplomatic relations and ultimately eliminating the economic embargo on Cuba, the U.S. Treasury and Commerce...more

Goodwin

Important Changes to the U.S. Sanctions Against Cuba

Goodwin on

The Obama administration recently announced the most significant changes in years to U.S. sanctions against Cuba, allowing expanded travel, trade, and exchange in targeted areas....more

Ogletree, Deakins, Nash, Smoak & Stewart,...

Softening of Cuba Sanctions Opens the Way for Some Travel and Trade

As part of a broader, ongoing effort to forge closer relations with Cuba, the Obama administration has enacted a new set of regulations intended to facilitate certain forms of authorized travel to Cuba. The regulations, which...more

K&L Gates LLP

U.S. Government Implements Cuba Policy Changes

K&L Gates LLP on

On January 16, 2015, the Office of Foreign Assets Control, U.S. Department of the Treasury (“OFAC”), and the Bureau of Industry and Security, U.S. Department of Commerce (“BIS”), each published regulations implementing the...more

King & Spalding

The Obama Administration Revises the Cuba Sanctions Regulations to Expand Trade Opportunities While Certain Law Makers Question...

King & Spalding on

On January 15, the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) released important updates to the Cuban Assets Control Regulations (“CACR”). The U.S. Department of Commerce’s Bureau of Industry...more

Foley & Lardner LLP

Treasury Department Eases Cuba Sanctions

Foley & Lardner LLP on

New Rules Open Opportunities for Exports, Financial Services, and Travel- On January 16, 2014, the U.S. Treasury Department issued new sanctions regulations easing the 54-year old Cuban embargo. Coming in the wake of...more

BakerHostetler

Where the Rubber Meets the Road: Obama Administration Announces Regulatory Amendments to U.S. Cuba Sanctions

BakerHostetler on

On January 16, 2015, the U.S. Department of the Treasury (“Treasury”) amended the Cuban Assets Control Regulations, 31 C.F.R. Part 515 (“CACR”), and the U.S. Department of Commerce amended the Export Administration...more

Baker Donelson

Update: U.S. Ramps Up Ukraine-Related Sanctions Yet Again

Baker Donelson on

On December 19th, President Obama signed Executive Order (EO) 13685 specifically targeting Crimea and those responsible for the usurpation of the peninsula back in March. This latest EO was the forth in a series aimed at...more

Morgan Lewis

Partial Relaxation of Cuban Sanctions: New Regulations Issued

Morgan Lewis on

The U.S. Department of the Treasury and the U.S. Department of Commerce have released new regulations that loosen restrictions on trade and travel with Cuba....more

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