FINCast Ep. 19 - The DPRK Sanctions Program
OFAC has been busy and not so busy — what do I mean? OFAC is administering a complex set of coordinated sanctions against Russia, in close coordination with the EU and the UK....more
In this weekly update, we summarise the most notable updates in the UK sanctions world. ...more
The executive order signed by United States President Joseph Biden in February 2024 states that the violence being committed by Israeli settlers has reached intolerable levels; poses a serious threat to peace, security, and...more
On June 1, the FBI, the U.S. Department of State and the National Security Agency, together with the Republic of Korea’s (ROK) National Intelligence Service, National Police Agency and Ministry of Foreign Affairs, issued a...more
With the war in Ukraine raging on, the U.S. continued to escalate its sanctions response against Russia. The U.S. announced extensive trade and investment bans that prohibit U.S. persons from making any “new investment” in...more
The world’s response to Russia’s invasion of Ukraine dominated the first quarter of 2022, as the US and its international partners coordinated efforts to impose unprecedented sanctions designed to isolate the Russian...more
On July 16, 2020, Essentra FZE Co. Ltd., a manufacturer of components for cigarettes located in the United Arab Emirates, agreed to a settlement with the U.S. Department of the Treasury’s Office of Foreign Assets Control...more
Indictment Again Highlights the Role of Correspondent Banking in Money Laundering - On May 28, 2020, the U.S. Department of Justice (“DOJ”) unsealed a 50-page indictment against 28 North Korean and 5 Chinese bankers...more
In this episode, FIN Principal Daniel Glaser and FIN Vice President David Murray focus on the North Korea Sanctions program. These experts discuss the program's complexities, challenges, and importance in the geopolitical...more
Report on Supply Chain Compliance 2, no. 22 (November 21, 2019) - Women Mobilizing to End the War, Korea Peace Now, released a report on the impact sanctions have on the common citizens of the Democratic People’s Republic...more
Growing Chinese illicit finance threats, vulnerabilities, and exposure are combining to increase illicit financing risk in the international financial system, judging from a series of recent advisories, sanctions actions,...more
BIS has restricted Cuba’s access to commercial aircraft and other goods, lowered de minimis for foreign items containing US content to 10%, and restricted the temporary sojourn by aircraft in Iran, Syria, Sudan, and North...more
In this quarter, OFAC lifted sanctions on Rusal and other companies following divestment by Oleg Deripaska. Meanwhile, as Venezuela descends into economic and political crisis, the US targeted PdVSA and others to hasten...more
Closing out 2018, OFAC announced its plan to lift sanctions against United Co. Rusal and others, despite bi-partisan opposition from Congress. Simultaneously, OFAC continued to target Russia’s defense and intelligence sectors...more
This quarter, companies around the globe prepared to exit Iran-related business in the wake of U.S. sanctions snap-back. Meanwhile, OFAC provided a path to relief to designated Russian entities, extending several deadlines...more
Lawmakers have returned from the Memorial Day recess and are facing a packed legislative agenda over the summer. With the announcement this week of a shortened August recess, the Senate will have more time to address...more
Foreign policy – particularly trade with China and the standoffs with Iran and North Korea – is likely to compete for attention this week among policymakers in the Trump administration and on Capitol Hill....more
HEADLINES - Foreign policy is likely to lead headlines this week, as President Trump plans to decide whether the U.S. will remain in President Obama’s Iran nuclear deal, and he may also announce specifics on a plan to meet...more
Sanctions compliance is challenging because of the changing nature of sanctions regulations and individuals identified as Specially Designated Nationals. With each new administration, foreign policy priorities are usually...more
Russia-Related Sanctions Codification: The new law codifies sanctions executive orders related to circumstances in Ukraine and Crimea as well as certain cyber-enabled activities, restricting the U.S. President's authority to...more
On Tuesday, July 25, the U.S. House of Representatives passed H.R. 3364, the Countering America’s Adversaries Through Sanctions Act by a vote of 419-3. There is some uncertainty, but the legislation is expected to be...more
The first six months of the Trump Administration saw several notable developments for US sanctions, with particular implications for Russia and Iran. The Administration also declared a shift in US policy toward Cuba. ...more
Below is a summary of developments since our previous update in January relating to European Union (“EU”) sanctions on Iran, Russia, Belarus, North Korea and other jurisdictions as well as highlights of recent changes with...more
Focusing on overseas cyber threats, President Obama issued an Executive Order on April 1, 2015, which grants authorization to impose sanctions on individuals and entities engaged "in malicious cyber-enabled activities that...more