FINCast Ep. 19 - The DPRK Sanctions Program
Companies should be prepared to conduct additional due diligence for any transactions involving entities in the countries enumerated in this rule. In an interim rule published on, January 15, 2020, the Department of...more
TikTok Will Partner with Oracle in the United States After Microsoft Loses Bid - "TikTok and Oracle will become business partners in the United States — a deal meant to satisfy the Trump administration's national security...more
Seyfarth Synopsis: Within the last few days, the Trump Administration has expanded an existing travel ban and initiated a new one related to the Coronavirus; similarly other countries have added entry restrictions to try to...more
On December 20, 2019, President Trump signed into law the National Defense Authorization Act for Fiscal Year 2020 (“NDAA 2020”), which includes numerous sanctions-related provisions. The law includes the previously introduced...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
Bank Secrecy Act/anti-money laundering (BSA/AML) and sanctions matters continue to be a core focus of regulators, law enforcement agencies, policymakers and Congress, and the story of the Obama and Trump Administrations on...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
Happy new year everyone. The government is shut down, but there has already been a flurry of activity in 2019 on the economic sanctions and embargoes front. Here is a summary of where we stand on various sanctions regimes....more
Russia remained at the forefront this quarter, as the Trump Administration imposed new measures and markets reacted to the threat of additional, “crushing” sanctions from Congress on Russian sovereign debt. Meanwhile, EU...more
Harry Clark, Ellen Murphy, Matthew Moses and Elizabeth Morgan co-authored an article for Law360 examining an advisory recently issued by the U.S. Department of State that aims to help U.S. businesses manage the risk of...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
I spent last week in Seoul talking to clients about the latest changes to U.S. trade and sanctions policy (as South Korea is one of Iran’s largest trading partners, it is understandable that some concerns have arisen there in...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
This quarter saw the announcement of sweeping new sanctions against Russia’s billionaire class and their corporate holdings, and included the Trump Administration’s first issuance of sanctions against Russia for meddling in...more
The Office of Foreign Assets Control (OFAC)’s new North Korea Sanctions Regulations become effective today. In addition to making certain technical and conforming changes, the newly updated Part 510 incorporates recent...more
The Moody Blues finally made it to Houston last week (well Sugar Land – but close enough). They were celebrating the 50th anniversary of the release of what many call the first progressive rock album, Days of Future Passed....more
Headlines from the final months of 2017 included the signing of a new executive order with global anti-corruption implications; new guidance on the Trump Administration’s approach to Russia sanctions under CAATSA; tightening...more
As we discussed further at length, the U.S. and nations around the world have recently sought to implement and impose harsh economic sanctions programs against North Korea to pressure Pyongyang into ceasing its development...more
This issue of Skadden’s semiannual Cross-Border Investigations Update takes a close look at recent cases, regulatory activity and other key developments, including new U.K. reporting obligations for sanctions violations,...more
The Trump Administration has been active on the sanctions front as a means of asserting United States foreign policy and national security interests. Congress has also taken an increasingly active and direct role of late,...more
On November 21, 2017, the U.S. Department of Treasury issued more sanctions against North Korea in an effort to intensify pressure on Kim Jong Un and his regime. These sanctions are targeted to one individual – a Chinese...more
Following President Trump’s trip to Asia, sanctions policies for North Korea continue to evolve. The U.S. government has strengthened sanctions through legislation and Presidential Executive Orders. Further, it is enforcing...more