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Goods or Services Economic Sanctions

The Volkov Law Group

SCG Plastics Pays OFAC $20 Million to Resolve Violations of Iran Sanctions Program

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OFAC is capable of extending a long-arm of enforcement, reaching sometimes non-U.S. companies that may “cause” another company to violate U.S. Sanctions laws.  If you need to find an example of this long reach, look no...more

Mayer Brown

UK Weekly Sanctions Update - Week Of January 29, 2024

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In this weekly update, we summarise the most notable updates in the UK sanctions world. ...more

Morrison & Foerster LLP - Government...

Notable Provisions Of The FY 2024 National Defense Authorization Act

On December 22, 2023, President Biden signed the National Defense Authorization Act for Fiscal Year 2024 into law after bipartisan congressional majorities approved the bill earlier in the month. The annual bill authorizes...more

Robinson+Cole Manufacturing Law Blog

Five Eyes on Sanction Enforcement: Joint Guidance on Russia Sanctions Evasion From U.S. and Allies Identifies Detailed...

On September 26, 2023, U.S. export enforcement authorities, jointly with enforcement authorities in four allied countries (the Five Eyes), issued additional guidance in order to prevent the diversion of goods in violation of...more

The Volkov Law Group

DOJ Resolves First Corporate Sanctions Case Involving Iran Sanctions Program

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The Justice Department has touted the upcoming wave of corporate prosecutions for criminal sanctions violation as the era of “The New FCPA.” DOJ’s reference is intended to communicate a strong message – companies are going to...more

The Volkov Law Group

Commerce, Justice, State and Treasury Issue Unprecedented Joint Advisory Concerning Iranian UAV Procurement Activities

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In a relatively rare move for four (4) Cabinet-level Departments, the U.S. Departments of Commerce, Justice, State and Treasury issued an advisory notice on June 9, 2023,  aimed specifically at reminding industry of their...more

The Volkov Law Group

Murad Pays OFAC $3.3 Million for Iran Sanctions Violations; Former Senior Executive Pays $175k

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Over an eight-year period ending in 2018, Murad, a U.S. cosmetics company, illegally exported goods and services to Iran in 62 separate transactions worth approximately $11 million.  Murad was acquired by Unilever United...more

K2 Integrity

Sanctions Against Russia: Recent Developments - May 2023

K2 Integrity on

K2 Integrity delivers information and analysis on recent developments related to sanctions against Russia and key implications for the public, private, and non-profit sectors as the United States (U.S.), the European Union...more

Orrick, Herrington & Sutcliffe LLP

OFAC sanctions Iran’s international UAV procurement network

On March 9, the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) announced sanctions against a China-based network of five companies and one individual accused of supporting Iran’s unmanned aerial vehicle...more

The Volkov Law Group

DOJ, and Departments of Commerce and Treasury Issue Joint Compliance Note on Evasion of Russia Sanctions and Export Controls

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As we have noted on numerous occasions, the U.S. Russia Sanctions and Export Control Program is unprecedented and a compliance challenge for all organizations. In another unprecedented action, the Justice Department and the...more

Orrick, Herrington & Sutcliffe LLP

OFAC settles with Indian tobacco company on North Korean transactions

On March 1, the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) announced a $332,500 settlement with an India-registered tobacco company to resolve allegations that it “requested payment in U.S. dollars for...more

Stikeman Elliott LLP

Canada Steps Up Sanctions on Russia and Belarus: Extractive Sector Services, Advanced Technology and Certain Media Entities Facing...

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In this post, we describe the many sanctions imposed by Canada on Russia and Belarus, and on certain Ukrainians who have supported them, since our previous update on June 22, 2022. ...more

The Volkov Law Group

Avoiding Compliance Overkill — Properly Assess and Manage Tangible Risks

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The uptick in recent sanctions activity caused in large part by the Russian Federation’s unprovoked and unilateral invasion of Ukraine has caused absolute pandemonium in many compliance circles. While the U.S. Department of...more

Sullivan & Worcester

Interpreting your contract in the wake of Russian sanctions – Commercial questions to consider

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Given the recent expansion of the regulatory landscape in light of the ongoing events in Russia and Ukraine, namely the imposition of extensive sanctions on Russia (and certain Russian banks and nationals), there has been a...more

The Volkov Law Group

Global Logistics Company Settles OFAC Violations for $6.1 Million

The Volkov Law Group on

You have to wonder how OFAC has the time to investigate and settle cases given its significant work implementing the Russia Sanctions Program.  But OFAC continues to demonstrate its commitment to aggressive enforcement. ...more

Torres Trade Law, PLLC

Lost at Sea: Lack of BIS Guidance on New Russia/Belarus FDP Rule Creates Compliance Chaos

Torres Trade Law, PLLC on

On March 2, 2022, as part of a string of sanctions and export controls, the Russia/Belarus Foreign Direct Product (“FDP”) Rule and Russia/Belarus-Military End User (“MEU”) FDP Rule took effect. These rules, generally,...more

Stikeman Elliott LLP

Canada Imposes Further Sanctions on Russia in Response to the Invasion of Ukraine

Stikeman Elliott LLP on

On February 24, 2022, Canada imposed additional sanctions on Russia in the wake of its invasion of Ukraine. The new sanctions, the key elements of which are described below, are now effective and were imposed under...more

The Volkov Law Group

United States Announces Initial Sanctions in Response to Russia’s Invasion of Two Ukraine Regions

The Volkov Law Group on

In response to Russia’s invasion of Ukraine territories, the so-called Donetsk and Luhansk People’s Republics, respectively, (hereinafter “DNR” and “LNR”), on February 21, 2022, President Biden issued a new Executive Order...more

The Volkov Law Group

OFAC Settles with Hong Kong Trading Company for $5.2 Million for Violations of Iran Sanctions Program

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OFAC is off to a quick start in 2022.  After announcing its Airbnb enforcement action in the beginning of January, OFAC announced a settlement with Sojitz (Hong Kong) Limited, a Hong Kong, China-based company that engages in...more

The Volkov Law Group

OFAC Collects $133k from a US Individual for Violations of Iran Sanctions Program

The Volkov Law Group on

In May 2019, OFAC released its Framework for a Sanctions Compliance Program.  OFAC announced that it intended to increase the prosecution of individuals for sanctions violations.  OFAC has brought two cases against...more

The Volkov Law Group

United States, European Union, United Kingdom and Canada Coordinate Further Sanctions Against Belarus

The Volkov Law Group on

In an interesting announcement, the US, EU, UK and Canada implemented additional sanctions against Belarus.  The coordinated announcement reflected the Biden Administration’s diplomatic commitment to joint sanctions actions. ...more

The Volkov Law Group

OFAC Implements New Ethiopia Sanctions Program

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On November 12, 2021, the U.S. Department of Treasury’s Office of Foreign Assets Control (“OFAC”), pursuant to Executive Order 14046, Imposing Sanctions on Certain Persons With Respect to the Humanitarian and Human Rights...more

The Volkov Law Group

Keeping Track of Third Party Risks – Bribery and Sanctions

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We have heard it over and over, again and again – third-parties pose significant risks of bribery for all global businesses.  Almost every FCPA enforcement action includes some form of third-party misconduct.  The current...more

The Volkov Law Group

Former Schlumberger Company Settles OFAC Case for $160k for Violation of Sudan Sanctions (Part II of II)

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In the second OFAC enforcement action released on the same day, September 27, 2021, Schlumberger Rod Lift, Inc. (“SRL”) (now d/b/a Lufkin Rod Lift, Inc.), and formerly a subsidiary of Schlumberger Lift Solutions LLC (“SLS”),...more

The Volkov Law Group

Cameron Settles OFAC Case for $1.4 Million for Violation of Ukraine-Russia Sanctions (Part I of II)

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In a pair of enforcement actions, OFAC settled two separate actions involving Schlumberger Limited subsidiaries – the first involving Cameron International Corporation, and the second,  Schlumberger Rod Lift, Inc., a former...more

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