News & Analysis as of

Office of Foreign Assets Control (OFAC) Economic Sanctions CAATSA

A&O Shearman

Widening the sanctions net in uncertain times: latest developments in the U.S., EU, and U.K.'s sanctions targeting Russia

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In the context of the third anniversary of Russia’s invasion of Ukraine, the U.S., EU, and U.K. continue to implement new measures to stifle Russia’s war efforts. The Biden administration continued to escalate sanctions...more

ArentFox Schiff

Navigating the Complexities of Forced Labor Laws: ArentFox Schiff's 2024 Guide for Global Businesses

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In the last few years, changes to the United States enforcement stance on the forced labor import ban authorized by 19 U.S.C. § 1307 and passage of the Uyghur Forced Labor Prevention Act (UFLPA) have fundamentally changed the...more

Troutman Pepper Locke

Issuance of Russia-Related General ‎License and Russia-Related FAQ Regarding Letterone ‎Holdings ‎S.A.‎

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On August 8, 2023, the Department of the Treasury's Office of Foreign Assets Control (OFAC) issued General License 13F Authorizing Certain Administrative Transactions Prohibited by Directive 4 under Executive Order 14024...more

BakerHostetler

Current State of U.S. Economic Sanctions Imposed on the Russian Federation and Covered Regions of Ukraine in Response to the...

BakerHostetler on

This update addresses the full implementation of the price cap policy for crude oil and petroleum products of Russian origin by the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC). On Feb. 3, OFAC...more

BakerHostetler

Current State of U.S. Economic Sanctions Imposed on the Russian Federation and Covered Regions of Ukraine in Response to the...

BakerHostetler on

In response to the Russian Federation’s (Russia) egregious and unprovoked invasion of Ukraine that began in February 2022, the U.S. government has deployed a whole-of-government approach in imposing sanctions and export...more

Mitratech Holdings, Inc

Effective Sanctions Management: A New Compliance Challenge

Ensuring compliance is key for an organization’s success. The ongoing conflict in Ukraine is a salient reminder that the world shifts on its axis from time to time, and many of our working assumptions have to go by the...more

Venable LLP

Russia and Sanctions: What Happens Next? Compliance and Enforcement

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Now that the United States and its allies have deployed many of their available financial and trade weapons in support of Ukraine against Russia's invasion, what happens next? Perhaps more than any other U.S. sanctions...more

BCLP

Russia Now Focal Point of Additional Sanctions and Export Controls, With an Added Bonus for Public Companies (Oh my!)

BCLP on

In response to a variety of activities allegedly undertaken by Russia, the U.S. Government has imposed a series of additional sanctions and export control measures since early March. Collectively, the March and April...more

Orrick, Herrington & Sutcliffe LLP

New Trade Controls Targeting Russia

In March 2021, three federal agencies promulgated international trade restraints as part of the Biden Administration’s response to alleged mistreatment of Russian opposition leader Alexey Navalny in 2020. Specifically, the...more

Morgan Lewis

Russia Sanctions Update – US / EU (And Brexit-UK) Overview And Energy Sector Focus & Russian Countersanctions, as of 10 December...

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The still evolving US sanctions (as well as the EU and now also separate UK sanctions) continue to challenge Russia-related business. The sanctions frameworks are complex, changing, and, at times, inconsistent as well as...more

White & Case LLP

US and EU impose coordinated Navalny sanctions

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On 2 March 2021, the United States and European Union ("EU") imposed coordinated sanctions in response to the poisoning and imprisonment of Russian opposition politician Aleksey Navalny (and the related US determination that...more

Akin Gump Strauss Hauer & Feld LLP

Turkey: U.S. and EU Sanctions Developments

Key Points - On December 14, 2020, in response to Turkey’s procurement of the S-400 surface-to-air missile system from Russia in 2019, the Trump administration imposed new sanctions on the Turkish Presidency of Defense...more

Eversheds Sutherland (US) LLP

US issues sanctions against Turkey for purchase of Russian S-400 missile system

On December 14, 2020, the United States (US) imposed sanctions on Turkey pursuant to Countering America’s Adversaries Through Sanctions Act (CAATSA) for “knowingly engaging in a significant transaction with Rosoboronexport...more

Morgan Lewis

US and EU Russia Sanctions Update—overview and Energy Sector Focus (and Emerging Russian Countersanctions) – October 2020

Morgan Lewis on

United States - Various threats of further broad sanctions… triggered by ongoing negative developments and perceptions in the US-Russia relationship – though new sanctions legislation seems unlikely before the 3 Nov. US...more

Morgan Lewis

US and EU Russia Sanctions Update—overview and Energy Sector Focus (and Emerging Russian Countersanctions) – July 2020

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This presentation, an update to our April 2020 presentation, highlights the most recent developments and then provides a detailed overview of the relevant frameworks and their possible implications—including a focus on the...more

A&O Shearman

Sanctions Round Up: Third Quarter 2019

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This quarter, the U.S. acted pursuant to statute to punish Russia for its alleged role in the chemical weapons attack on Sergei Skipal and targeted a handful of individuals and entities for certain other malign activities....more

Pillsbury Winthrop Shaw Pittman LLP

Slavery in Supply Chains: CBP Petitions Raise New Forced Labor Compliance Risks

Third-party petitions seeking to ban the importation of goods made with forced labor may affect global supply chains. Petitions are being filed with U.S. Custom and Border Protection seeking to ban the importation into the...more

A&O Shearman

Sanctions Round Up: Second Quarter 2019

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SECOND QUARTER 2019 – - US extends sanctions to encompass Iranian metals industries and other targets; Iran announces breach of nuclear accord after EU is unable to offset economic impact of renewed US sanctions. -...more

BCLP

A Delicate Balance

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How should we approach competing sanctions risks? Among the numerous regulatory compliance risks faced by financial institutions, economic and trade sanctions risks commonly receive a great deal of attention....more

Williams Mullen

U.S. Sanctions Laws: Dangers Ahead For Foreign Companies (Part II)

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The following is Part II of this article. Secondary Sanctions – Requirements On Non-U.S. Parties That Have No Contacts With the U.S. OFAC also has adopted sanctions that specifically apply to non-U.S. companies and...more

Williams Mullen

U.S. Sanctions Laws: Dangers Ahead For Foreign Companies (Part I)

Williams Mullen on

International companies are signaling growing concern about the U.S. sanctions laws. These laws impose restrictions on entering business transactions with certain targeted countries, companies and even individual persons...more

Morrison & Foerster LLP

OFAC Delists Oligarch Companies Over Congressional Objections

On Sunday, the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) announced that it lifted sanctions on three entities associated with Russian oligarch Oleg Deripaska, including the second-largest aluminum...more

K&L Gates LLP

OFAC Announces Intent to Remove Sanctions on UC Rusal plc, En+ Group plc, and JSC EuroSibEnergo

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On December 19, 2018, the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) notified Congress of its intent to remove UC Rusal plc (“Rusal”), the major Russian aluminum producer, and two other...more

Sheppard Mullin Richter & Hampton LLP

New Year Sanctions Roundup: Where Do We Stand?

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

Hogan Lovells

Russia sanctions: Remove an oligarch, return to business

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On 19 December 2018, the U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) submitted a notification to Congress that it plans to terminate sanctions on three major companies originally designated for...more

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