News & Analysis as of

Office of Foreign Assets Control

U.S. Commerce Department Rescinds Export Privileges For China’s ZTE

by Husch Blackwell LLP on

On April 15, 2018, the Department of Commerce’s Bureau of Industry and Security (“BIS”) issued a denial order against ZTE Corporation and ZTE Kangxun Telecommunications Ltd. (collectively “ZTE”), effectively banning U.S....more

OFAC’s New Russia-Related Sanctions

by Morrison & Foerster LLP on

On April 6, 2018, the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) added 38 new designees to its list of Specially Designated Nationals and Blocked Persons (“SDN List”) related to Russia pursuant to...more

New US Sanctions Against Russia Create Unique Issues for Fund Investors

by Morgan Lewis on

The Office of Foreign Assets Control recently designated 7 “oligarchs,” 17 government officials, 13 companies, and one bank, all Russian, as Specially Designated Nationals (SDNs), effectively prohibiting US persons...more

Sanctions Round Up: First Quarter 2018

by Shearman & Sterling LLP on

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

Russia Prepares to Retaliate for U.S. Sanctions

by Jones Day on

On April 13, 2018, the Duma (lower chamber of the Russian parliament) introduced a draft law "On Measures to Counter Unfriendly Actions of the United States of America and/or Other Foreign States" ("Draft Law") in response to...more

US announces major round of Russia sanctions designations and two time-limited general licenses

by Dentons on

On April 6, 2018, the US Treasury Department's Office of Foreign Assets Control (OFAC) added 24 individuals and 14 entities to the List of Specially Designated Nationals (SDN List) and one entity to the Sectoral Sanctions...more

New Russia Sanctions: Key Takeaways

by Morgan Lewis on

The new sanctions fall within the framework of existing US sanctions against Russia, but have expanded their application by classifying new, prominent individuals and companies as “Specially Designated Nationals.” Given the...more

Digital Cops and Cyber Robbers: OFAC Guidance on Crypto Currency

A lot of us in the sanctions compliance world were wondering whether and when OFAC would issue official guidance on its application of sanctions in the digital currency world. On March 18, OFAC issued five FAQs related to...more

Expansion of U.S. Sanctions Regarding Russia: Five Crucial Points

On April 6, 2018, the U.S. Treasury Department's Office of Foreign Assets Control ("OFAC") expanded U.S. sanctions relating to Russia by "blocking" seven prominent Russian businessmen, 12 companies, 17 senior Russian...more

US Treasury Department’s New Designations Under the Russia-Related Sanctions: 3 Key Takeaways (Russian version)

by Latham & Watkins LLP on

The new designations of Russian individuals and entities broadly expand the scope and impact of sanctions. Background - On April 6, 2018, the US Treasury Department’s Office of Foreign Assets Control (OFAC) added more...more

US Imposes New Russia Sanctions Targeting Oligarchs, Senior Government Officials and Entities

On April 6, 2018, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) announced sanctions against seven Russian oligarchs, 12 companies owned or controlled by these oligarchs, 17 senior Russian government...more

U.S. Sanctions Imposed on Russian Individuals, Associated Entities and Government Officials

by Jones Day on

The Situation: The Trump Administration has imposed sanctions against a number of high-profile Russian individuals and entities by adding them to the Specially Designated Nationals and Blocked Persons ("SDN") List. The...more

US Sanctions Prominent Russian Individuals and Companies

by White & Case LLP on

On April 6, 2018, the US Department of the Treasury's Office of Foreign Assets Control (OFAC) added seven Russian individuals and twelve companies deemed to be owned or controlled by those individuals to the List of Specially...more

OFAC Hits Russia with New Sanctions

by Michael Volkov on

On April 6, 2018, OFAC announced a new round of sanctions against Russian individuals and companies. Relying on its authority under existing executive orders, OFAC designated seven Russian oligarchs and 12 companies they own...more

OFAC Targets Russian Oligarchs and Energy Companies in New Designations

by Reed Smith on

On Friday, April 6, the U.S. Department of Treasury, Office of Foreign Assets Control (OFAC) announced the designation of 7 Russian oligarchs and 12 companies they own or control, 17 senior Russian government officials, and a...more

Red Notice Newsletter - Russian

ANTICORRUPTION DEVELOPMENTS – Canadian Mining Company Settles with SEC over FCPA Charges – On March 26, Kinross Gold Corporation settled with the Securities and Exchange Commission (SEC) over its alleged failure to...more

Red Notice Newsletter - Chinese

ANTICORRUPTION DEVELOPMENTS – Canadian Mining Company Settles with SEC over FCPA Charges – On March 26, Kinross Gold Corporation settled with the Securities and Exchange Commission (SEC) over its alleged failure to...more

US Treasury Department’s New Designations Under the Russia-Related Sanctions: 3 Key Takeaways

by Latham & Watkins LLP on

The new designations of Russian individuals and entities broadly expand the scope and impact of sanctions. Background - On April 6, 2018, the US Treasury Department’s Office of Foreign Assets Control (OFAC) added more...more

Treasury Department Designates Russian Oligarchs, Officials, and Entities

The Treasury Department has placed several prominent Russian individuals and companies on the Specially Designated Nationals and Blocked Persons lists (“SDN list”). Several of these parties are Russian billionaires previously...more

New Sanctions on Russian Businessmen: Impact on Investment Funds

On April 6, 2018, the Office of Foreign Assets Control (OFAC) of the U.S. Treasury Department sanctioned a number of Russian businessmen and companies, as well as Russian government officials and two state-owned entities. The...more

OFAC Sanctions Leading Russian Businessmen, Government Officials and Companies

• On April 6, 2018, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) placed seven prominent Russian businessmen, 12 companies, 17 senior Russian government officials, and a state-owned Russian...more

Trump Administration Imposes Venezuelan Digital Currency Sanctions

by Jones Day on

On March 19, 2018, President Trump signed an Executive Order prohibiting U.S. persons and anyone within the United States from engaging in "transactions related to, [the] provision of financing for, and other dealings in ......more

U.S. imposes sanctions on Russian individuals, their companies, and Russian government officials

by Hogan Lovells on

Today, the Trump Administration designated multiple Russian targets, including several wealthy individuals and their companies, as Specially Designated Nationals (SDNs). These designations of major companies represent the...more

In a Major Move, US Sanctions Key Russian Oligarchs, Officials, and Related Entities

by Dechert LLP on

The Trump Administration, on April 6, 2018, imposed sanctions on a number of Russian oligarchs with vast business interests, Russian government officials, officers of Russian state-owned enterprises, and related companies....more

OFAC Releases Guidance on Cryptocurrency

by Dechert LLP on

The U.S. government has recently been active with respect to regulating cryptocurrencies. For its part, the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) recently released guidance—issued in the form of...more

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Cybersecurity

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