News & Analysis as of

General Licenses

Can a license issued by Health Canada for producing or dealing cannabis be assigned as security?

by Dentons on

The last year has been filled with sensational headlines relating to the spectacular growth and rise to prominence of Licensed Producers (as defined below) in response to the federal government's plan to legalize recreational...more

Venezuela Debt Restructuring – Sanctions Compliance

As parties pursue restructuring of Venezuelan sovereign debt, they should be sensitive to U.S. economic sanctions prohibitions. The sanctions prohibitions broadly apply to "U.S. persons" – U.S. citizens and permanent...more

Revised U.S. Regulations Support Cuba's Private Sector, but Travel Restrictions Remain

by Jones Day on

The Situation: Regulations implementing tightened U.S. policy towards engagement with Cuba have rolled back a number of Obama-era initiatives and are effective immediately. The Result: Provisions that encourage Cuban...more

In Directional Shift, US Implements New Restrictions on Cuba

On November 8, 2017, the U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC), the U.S. Department of Commerce's Bureau of Industry and Security (BIS), and the U.S. Department of State announced...more

Retrenchment on Cuban Sanctions; The Search for a Middle Ground

The Trump Administration has made good on its promise to cut back on the liberalized Cuban policy implemented by the Obama Administration with a new regime that introduces new travel restrictions as well as broad prohibitions...more

US Office of Foreign Assets Control Amends Cuba Sanctions Program, Implementing Trump Directive

by Shearman & Sterling LLP on

The Office of Foreign Assets Control has amended the Cuban Assets Control Regulations to implement changes to the Cuba sanctions program announced by President Trump in June of this year, which aimed to reinforce certain...more

The US Revises Commercial and Travel Sanctions Against Cuba

by WilmerHale on

On November 9, 2017, the US Departments of the Treasury and Commerce implemented President Trump's June 2017 National Security Presidential Memorandum (NSPM) that was designed to tighten restrictions on individual travel to...more

Cuba update: Trump tightens travel authorizations and targets new restricted parties

by Hogan Lovells on

On 9 November 2017, the Trump Administration implemented new regulations to support its change to U.S. policy on Cuba. The U.S. Government has created a new Cuba Restricted List administered by the State Department. Through...more

Trump Announces New Iran Strategy, Decertifies Iran's Compliance with Iran Nuclear Deal

by Jones Day on

On Friday, October 13, 2017, President Trump announced that he would not certify that the suspension of sanctions pursuant to the Joint Comprehensive Plan of Action ("JCPOA") (commonly known as the Iran Nuclear Deal) is...more

Despite Revocation of Sudanese Sanctions, Considerations Remain for Those Dealing With Sudan (IRB No. 568)

by Bryan Cave on

Effective October 12, 2017, the U.S. Government has revoked its sanctions against Sudan that were established in Executive Orders 13067 and 13412 and removed a number of Sudanese entities from the SDN List. The revocation...more

United States Eases Sudan Sanctions

by White & Case LLP on

After 20 years of comprehensive sanctions against Sudan, the US government has revoked most sanctions with respect to Sudan and the Government of Sudan effective October 12, 2017. As a result of this action, US persons1 are...more

Trump Administration Lifts U.S. Sanctions on Sudan; Important Limitations Remain

Based on certain State Department findings, effective October 12, 2017, long-standing U.S. sanctions on the Republic of Sudan administered by OFAC under the Sudan Sanctions Regulations will be terminated, and U.S. persons...more

US lifts most sanctions on Sudan—but key controls and heightened concerns remain

by Dentons on

On October 12, 2017, the United States lifted its general commercial embargo on Sudan, removing sanctions that had prohibited US Persons from engaging in or facilitating most transactions involving Sudan or its government....more

United States Lifts Sanctions and Ends 20-Year-Old Embargo Against Sudan

by Reed Smith on

Following a 16-month diplomatic effort, on October 6, 2017, the U.S. government announced that it will terminate the vast majority of economic sanctions against Sudan. The revocation, which will be effective on October 12,...more

U.S. embargo on Sudan permanently lifted, but some restrictions remain

by Kelley Drye & Warren LLP on

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

United States Imposes Additional Sanctions Targeting North Korea

by White & Case LLP on

On September 21, 2017, President Trump signed an Executive Order (EO) entitled "Imposing Additional Sanctions with Respect to North Korea." The EO authorizes the US to impose blocking sanctions on North Korean persons,...more

Venezuela Sanctions Update: U.S. Government Sanctions PdVSA

by King & Spalding on

On August 24, 2017, President Trump issued Executive Order 13808 (“E.O. 13808” or the “Executive Order”) titled “Imposing Additional Sanctions With Respect to the Situation in Venezuela.” The Executive Order prohibits certain...more

US Imposes Sanctions Targeting Debt, Equity, and Securities of the Venezuelan Government and PdVSA

by White & Case LLP on

On August 24, 2017, President Trump signed Executive Order 13808 entitled "Imposing Additional Sanctions with Respect to the Situation in Venezuela." EO 13808, which became effective on August 25, 2017, prohibits certain...more

Trump Administration Imposes Targeted Financial Sanctions on Venezuela

by Jones Day on

On August 24, 2017, President Donald Trump issued an Executive Order imposing new sanctions intended to restrict financing connected to the Government of Venezuela. These sanctions supplement existing sanctions imposed by the...more

New Sanctions Target the Government of Venezuela's Access to US Capital Markets

On August 25, 2017, the U.S. government dramatically increased sanctions on the government of Venezuela. Unlike the Venezuela-related sanctions already in effect, which are list-based and to date have targeted only specific...more

President Trump and OFAC Announce Targeted Economic Sanctions on Venezuela

On August 25, 2017, President Trump issued an Executive Order (EO) imposing economic sanctions related to Venezuela. The new measures prohibit U.S. persons from engaging in certain debt-, equity-, and securities-related...more

US Imposes Sanctions on Venezuelan Government Securities

by Dechert LLP on

The United States announced new sanctions against the Venezuelan Government on August 25, 2017 that target the government’s ability to access U.S. debt and equity markets. The measures are intended to pressure Venezuelan...more

The Trump Administration’s New Venezuela Sanctions: Top 10 Takeaways

by Latham & Watkins LLP on

President Trump issues an Executive Order prohibiting certain transactions involving the Venezuelan government and state-owned or state-controlled entities. Key Points: ..The Executive Order imposes new sanctions that...more

New Executive Order Ramps Up Sanctions Against Venezuela and Petroleos de Venezuela S.A.

by Holland & Knight LLP on

• President Donald Trump has issued an Executive Order (the E.O.) imposing additional sanctions with respect to the situation in Venezuela, and the U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) has...more

OFAC Puts Companies on Notice: Due Diligence in Iran Can Trigger Sanctions Violations

• This enforcement action highlights the heightened sanctions compliance and enforcement risk that companies face when engaging third-party consultants to perform due diligence on counterparties. U.S. persons must make clear...more

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Cybersecurity

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