News & Analysis as of

Foreign Relations Office of Foreign Assets Control (OFAC)

Akerman LLP

Unlocking Venezuela: A Structured Approach for Energy, Tech, and Frontier Capital

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Recent U.S. policy actions have opened a narrow but actionable pathway for compliant engagement with Venezuela. Venezuela is re-emerging as one of the few genuine frontier markets with meaningful scale in energy, technology,...more

Mayer Brown

Russia/Ukraine Sanctions Update - Month of December 2025

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I. U.S. SANCTIONS - U.S. Is Prepared to Issue New Russia Sanctions if Putin Rejects Ukraine Peace Deal: According to Bloomberg and Reuters, on December 17 the United States was reported to be preparing an additional round...more

Akin Gump Strauss Hauer & Feld LLP

Designation of Certain Muslim Brotherhood Chapters as Foreign Terrorist Organizations and Specially Designated Global Terrorists...

Designates certain chapters of the Muslim Brotherhood, specifically those in Lebanon, Jordan, and Egypt, as Foreign Terrorist Organizations (FTOs) and Specially Designated Global Terrorists (SDGTs). Requires the State...more

Hogan Lovells

U.S. government publishes Tri-Seal Advisory “Sanctions and Export Controls Relief for Syria” after U.S. Department of Commerce...

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On November 10, 2025, the U.S. Department of Commerce (Commerce), the U.S. Department of the Treasury (Treasury), and the U.S. Department of State issued a Tri-Seal Advisory, “Sanctions and Export Controls Relief for Syria”...more

Hughes Hubbard & Reed LLP

US Sanctions in a Snap: Developments In Sanctions - October 2025

Hughes Hubbard’s “Sanctions in a Snap” is intended to provide a clear and concise summary of recent developments from the Office of Foreign Assets Control (OFAC). We hope you find it helpful in assessing U.S. economic...more

Thompson Coburn LLP

57. October 22, 2025 | Trump Administration Blocks Major Russian Oil Firms

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In response to Russia’s unprovoked invasions of Ukraine in March 2014 and February 2022, the Department of Treasury implemented various sanctions on Russian entities....more

Pillsbury - Global Trade & Sanctions Law

OFAC Designates Rosneft and Lukoil in Significant Expansion of Sanctions Targeting Russia’s Energy Sector

On October 22, 2025, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) announced significant new sanctions for Russia’s energy sector, designating Rosneft Oil Company (Rosneft) and Lukoil OAO...more

Pillsbury - Global Trade & Sanctions Law

Commerce Department Issues “Affiliates Rule,” Extends Entity List Restrictions to Majority-Owned Foreign Entities

On September 29, 2025, the U.S. Department of Commerce’s Bureau of Industry and Security (BIS) issued a long-anticipated interim final rule (IFR) amending the Export Administration Regulations (EAR) to extend Entity List and...more

Orrick, Herrington & Sutcliffe LLP

BIS Expands End User Export Controls with 50% Rule

The U.S. Commerce Department has expanded export control sanctions by extending them to 50% or more-owned affiliates of restricted parties. This development has a particularly significant impact on China-related export...more

Holland & Knight LLP

Venezuela Update: August 20, 2025

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Holland & Knight's Venezuela Focus Team invites you to read our Venezuela Update, in which we discuss the latest news, trends and developments in Venezuela that impact the interests of businesses across all industry sectors. ...more

Foley Hoag LLP

Unpacking the U.S. Sanctions Reversal on Syria: Implications and Future Outlook

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Key Takeaways: - Executive Order 14312 revokes the six executive orders that formed the foundation of the Syrian Sanctions Program, terminates the national emergency underlying those executive orders and waives and relaxes...more

Stankie Law

Revocation of Syrian Sanctions: Opportunities, Risks, and Changes under Executive Order 14312

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President Trump continued his flurry of sanctions actions with the recent revocation of the Syrian sanctions program. On June 30, 2025, President Donald Trump issued Executive Order (“EO”) 14312 “Providing for the Revocation...more

Troutman Pepper Locke

US Lifts Most Sanctions on Syria

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On May 23, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) issued Syria General License 25 (GL 25), effectively lifting most sanctions imposed under the Syrian Sanctions Regulations (SSR) (31...more

Benesch

Syria Sanctions - New General License Issued by OFAC Following Trump Announcement

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President Trump announced plans to relax sanctions against Syria during his recent trip to the Middle East, where he visited with the country’s President, Ahmed al-Sharaa. ...more

Troutman Pepper Locke

Unprecedented "Secondary Tariffs" for Oil Trade With Venezuela

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On April 2 — labeled “Liberation Day” by President Trump — the Trump administration is set to add a new sanctions-like boost to its tariff strategy, with a threat to impose unprecedented “secondary tariffs” of 25% on “all...more

Troutman Pepper Locke

Financial Transactions Related to Russian Energy Now Prohibited: Expiration of OFAC ‎General License 8L

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On March 12, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) allowed General License (GL) 8L under the Russian Harmful Foreign Activities Sanctions Regulations to expire. As a result, broad OFAC...more

Troutman Pepper Locke

Latest Sanctions Developments: Venezuela, Russia, and Yemen

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The Trump administration continues to ramp up sanctions on Venezuela and Yemen's Houthis, while sending mixed signals about its intentions with respect to Russia. We provide brief updates on these three areas, following up...more

Guidepost Solutions LLC

Mexican Cartels as Foreign Terrorist Organizations: A New Era of Risk for Global Businesses

On January 20, 2025, President Trump issued an executive order titled “Designating Cartels and Other Organizations as Foreign Terrorist Organizations and Specially Designated Global Terrorists.” This directive instructs the...more

American Conference Institute (ACI)

[Webinar] Virtual Passport to Proficiency in Economic Sanctions - March 4th - 27th, 1:30 pm - 4:30 pm EST

ACI’s virtual Passport to Proficiency Economic Sanctions features 21 hours of in-depth training led by a distinguished faculty of sanctions experts, drawn from diverse industries, the virtual event will provide in-depth...more

Troutman Pepper Locke

OFAC's Latest General Licenses and FAQs Related to Russian Sanctions

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On December 18, 2024, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) issued General License (GL) 1B (Authorizing Certain Activities Involving Federal State Budgetary Institution Marine Rescue...more

The Volkov Law Group

OFAC Designates Gazprombank for Inclusion on SDN List

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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

Troutman Pepper Locke

Between a Claim and a Hard Place: OFAC Sanctions Preempt State Insurance Laws

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U.S. sanctions laws present complex conflicts with state insurance laws. While state laws govern the timely payment of claims and other insurance practices, U.S. sanctions administered by the U.S. Department of the Treasury’s...more

Troutman Pepper Locke

OFAC Updates General Licenses and ‎FAQ on PdVSA 2020 8.5% ‎Bonds

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On November 7, 2024, the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) issued General License (“GL”) 5Q ("Authorizing Certain Transactions Related to the Petróleos de Venezuela, S.A. 2020 8.5...more

The Volkov Law Group

OFAC Fines U.S. Person $1 Million for Multiple Violations of Sanctions Regime Against Iran

The Volkov Law Group on

In one of the more notable enforcement actions of 2024, the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) recently imposed a $1,104,408 civil penalty on a U.S. person for 75 separate violations...more

Hogan Lovells

U.S. Treasury announces new sanctions targeting Russian banks, warns foreign financial institutions from using Russian alternative...

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The U.S. Department of the Treasury’s Office of Foreign Assets Control has designated dozens of Russian banks including Gazprombank and issued an alert warning foreign financial institutions of the risk of U.S. sanction for...more

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