News & Analysis as of

Foreign Relations SDN List General Licenses

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

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

Morgan Lewis

OFAC Extends Reach Over Securities Held by Russia’s National Settlement Depository

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OFAC’s new FAQ 1097, issued October 10, warns US investors of the need to block securities held at Russia’s National Settlement Depository (NSD), even if the securities or the issuer is not sanctioned. Even if the security is...more

Troutman Pepper Locke

OFAC Extends and Issues General Licenses Involving Russian Tax and Civil Aviation Safety

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The U.S. Department of the Treasury’s Office of Foreign Asset Control ‎‎(“OFAC”) on (i) July 10, 2024, extended General License (“GL”) 13J (“Authorizing Certain Administrative Transactions Prohibited by Directive 4 under...more

BakerHostetler

Current State of U.S. Export Controls in Response to the Russian Federation’s Invasion of Ukraine - May 2024

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In response to Russia’s invasion of Ukraine, the U.S. government has deployed a whole-of-government approach to impose sanctions and tighter export controls on Russia. ...more

Troutman Pepper Locke

OFAC Targets Russia’s Military-‎Industrial Base and Third-‎Country Supporters, and Issues ‎Related General Licenses

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On April 29, 2024, the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) published General License (“GL”) 8I related to the‎ ‎Russian Harmful Foreign Activities ‎Sanctions Regulations, 31 CFR Part...more

Hogan Lovells

U.S., EU, and UK expand sanctions to mark the second anniversary of Russia’s war in Ukraine

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Following the death of political activist Aleksey Navalny and to mark the second anniversary of Russia’s invasion of Ukraine, the United States, EU and UK adopted a series of amendments to their respective economic sanctions...more

Troutman Pepper Locke

U.S. Announces New Sanctions Against ‎Russia Following Ukraine-‎Russia War 2-Year Anniversary and ‎the Death of Aleksey Navalny

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In response to the second anniversary of Russia’s illegal war against Ukraine and the death of political opposition leader and anti-corruption activist Aleksey Navalny, the United States Department of the Treasury’s Office of...more

The Volkov Law Group

Biden Administration Responds to Death of Alexey Navalny with Additional Sanctions Against Russia Federation

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Following the death of opposition politician Alexey Navalny, the Biden Administration announced a large swath of new and additional sanctions on the Russian Federation.  The U.S. Department of Treasury’s Office of Foreign...more

Troutman Pepper Locke

OFAC Sanctions New Russian Price Cap ‎Violator and Publishes General Licenses and FAQ

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On January 18, 2024, the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) designated Hennesea Holdings Limited (“Hennesea”) and multiple vessels owned by Hennesea to the Specially Designated...more

Troutman Pepper Locke

U.S. Sanctions Persons Supplying ‎Russia’s Military-Industrial Base and Issues New Related ‎‎General Licenses

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On December 12, 2023, the Department of the Treasury's Office of Foreign Assets Control (“OFAC”) and the U.S. Department of State (“DOS”) sanctioned more than 250 individuals and entities by adding them to the List of...more

The Volkov Law Group

U.S. Sanctions Update as of October 2023

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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

Troutman Pepper Locke

OFAC Russia Related Sanctions ‎Update: August 2023‎

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On July 20, 2023 the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) added nearly 120 individuals, entities, and vessels to the Specially Designated Nationals (“SDN”) List pursuant to Executive...more

Hogan Lovells

Significant new sanctions and export control measures by the US government against Russia

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On May 19, 2023, the US Department of Treasury, State, and Commerce imposed the most significant tranche of sanctions and export control measures in several months. The measures included (i) new designations on the Specially...more

Troutman Pepper Locke

OFAC Russia Related Sanctions Update: ‎May 2023‎ #2

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In conjunction with the G7 Summit in Japan, the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) introduced additional economic sanctions on May 19, 2023, with the aim of further limiting the...more

Troutman Pepper Locke

OFAC Russia Related Sanctions Update: ‎May 2023‎

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On May 5, 2023, the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) published General Licenses (“GL”) 8G related to the‎ ‎Russian Harmful Foreign Activities ‎Sanctions Regulations, 31 CFR Part 587...more

Troutman Pepper Locke

OFAC Russia Related Sanctions Update: ‎April 2023‎ #2

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On April 12, 2023, the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) published four new General Licenses (“GL”) (GL 62, GL 63, GL 64, and GL 65), revoked GL 15, and issued FAQ 1122 related to the...more

Troutman Pepper Locke

OFAC Russia Related Sanctions Update: ‎April 2023‎

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Russian “Exit Tax”. As of December 2022, the Russian Federation imposed new laws that could require U.S. persons to pay an “exit tax” prior to divesting assets located in the Russian Federation; any such payment could...more

A&O Shearman

U.S. sanctions create risks and challenges for Paraguay's business community

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In January 2023, the United States imposed sanctions on key figures in the Paraguayan economy. The impact of these sanctions are significant and will directly or indirectly impact most Paraguayan financial institutions and...more

Latham & Watkins LLP

Sanctions Update: US, EU, UK Introduce New Sanctions and Export Controls to Mark One-Year Anniversary of Russian Invasion of...

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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

Venable LLP

U.S. Government Cracks Down on the Use of Third-Party Intermediaries for Russia Sanctions and Export Controls Evasion as War...

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As we pass the one-year anniversary of Russia's invasion of Ukraine, the U.S. government has launched an interagency initiative to crack down on evasion and violations of U.S. sanctions and export controls targeting Russia...more

Troutman Pepper Locke

OFAC Russia Related Sanctions Update: ‎‎March 2023

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On February 24, 2023, the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) released a new determination targeting the metals and mining sector of the Russian Federation economy under Executive Order...more

Holland & Knight LLP

No Time for a Year in Review with a Bear on the Loose

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The Biden Administration continues to place pressure on Russia, and on Feb. 24, 2023, marked the one-year anniversary of Russia's invasion of Ukraine with additional sanctions, export controls and tariffs. These new policies...more

Eversheds Sutherland (US) LLP

Russia and Belarus sanctions update - March 2023

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

BakerHostetler

Current State of U.S. Economic Sanctions Imposed on the Russian Federation and Covered Regions of Ukraine in Response to the...

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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

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