News & Analysis as of

Office of Foreign Assets Control (OFAC) Prohibited Transactions Russia

Troutman Pepper Locke

Financial Transactions Related to Russian Energy Now Prohibited: Expiration of OFAC ‎General License 8L

Troutman Pepper Locke on

On March 12, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) allowed General License (GL) 8L under the Russian Harmful Foreign Activities Sanctions Regulations to expire. As a result, broad OFAC...more

BakerHostetler

Current State of U.S. Economic Sanctions Imposed in Response to Russia’s Invasion of Ukraine - January 29, 2025

BakerHostetler on

In its continuing response to Russia’s ongoing invasion of Ukraine, the U.S. government has deployed a whole-of-government approach to impose sanctions and tighter export controls on Russia and Belarus. This alert summarizes...more

Hinch Newman LLP

DOJ Issues Rule Addressing Threat Posed by Foreign Adversaries’ Access to Americans’ Sensitive Personal Data

Hinch Newman LLP on

On Friday, December 27, 2024, the Justice Department issued a final rule to address “urgent national security risks posed by access to U.S. sensitive personal and government-related data from countries of concern and covered...more

BakerHostetler

Current State of U.S. Export Controls in Response to the Russian Federation’s Invasion of Ukraine - May 2024

BakerHostetler on

In response to Russia’s invasion of Ukraine, the U.S. government has deployed a whole-of-government approach to impose sanctions and tighter export controls on Russia. ...more

BakerHostetler

Current State of U.S. Economic Sanctions Imposed in Response to Russia’s Invasion of Ukraine - May 2024

BakerHostetler on

In response to Russia’s invasion of Ukraine, the U.S. government has deployed a whole-of-government approach to impose sanctions and tighter export controls on Russia. This alert summarizes key economic sanctions imposed by...more

Goodwin

US Government Moves to Regulate Cross-Border Transactions Involving Sensitive Data

Goodwin on

In a sweeping, coordinated effort across federal agencies, the US government has taken a giant leap forward to prevent access to data that could be exploited to the detriment of national security. On February 28, 2024,...more

Akin Gump Strauss Hauer & Feld LLP

New Executive Order Authorizes the Imposition of Secondary Sanctions on Foreign Financial Institutions Facilitating Russia’s...

Key Points - On December 22, 2023, President Biden issued E.O. 14114 “Taking Additional Steps With Respect to the Russian Federation’s Harmful Activities.” Specifically, E.O. 14114, which amends E.O. 14024 and E.O. 14068,...more

Eversheds Sutherland (US) LLP

Russia sanctions update - June 2023

On May 19, 2023, the Biden Administration along with leaders of the Group of Seven (G7), unveiled a new package of sanctions. The G7 leaders released a joint statement reaffirming their commitment to offer “the financial,...more

Orrick, Herrington & Sutcliffe LLP

OFAC announces new Sudan E.O., issues and amends several sanctions general licenses and FAQs

The U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) recently announced several sanctions-related actions, including President Biden’s new Executive Order (E.O.) Imposing Sanctions on Certain Persons...more

NAVEX

Your Questions, Answered – Russia Sanctions: Impact on Your Third-Party Compliance Webinar

NAVEX on

Recently, NAVEX hosted a webinar featuring Michael Volkov and Jessica Sanders from the Volkov Law Group, titled Russia Sanctions: Impact on Your Third-Party Compliance. If you missed the webinar, visit the events page to...more

BCLP

Russia Sanctions Update: Prohibitions Regarding Certain Professional Services, Additional SDN Designations, Visa Restrictions, and...

BCLP on

Following a meeting of G7 leaders on May 8, 2022, the United States enacted additional sanctions and export control measures in response to the ongoing conflict in Ukraine. Among the changes: a prohibition on U.S. persons...more

Goodwin

U.S. Blocks Additional Russian Interests and Restricts Certain Management and Related Services and the Export of Certain Non-Dual...

Goodwin on

The U.S. Government has announced additional measures to counter Russia’s war against Ukraine. On May 8, 2022, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) blocked certain Russian financial...more

Holland & Knight LLP

Navigating Russian Sanctions in Corporate Jet Transactions

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The U.S., European Union (EU), United Kingdom (U.K.) and many other countries have imposed similar but not necessarily identical sanctions on Russia. In corporate jet transactions, the sanctions laws of several jurisdictions...more

Bass, Berry & Sims PLC

Russia, Ukraine: Update as of May 5

The Bass, Berry & Sims international trade team is actively monitoring the situation in Russia and Ukraine and providing real-time advice to clients on managing the situation. This post summarizes new U.S. sanctions and...more

BCLP

Additional Sanctions Target the Russian Defense Industry, the Russian State Duma, and more Financial Executives

BCLP on

On March 24, 2022, the United States designated additional parties as sanctions targets in Russia in response to the conflict in Ukraine. Companies should continue to conduct restricted party screening of all parties involved...more

Venable LLP

UPDATE: U.S. Government, States Impose New Measures against Russia

Venable LLP on

As the Russian invasion of Ukraine reaches the one-month mark, the United States government, its allies, and several U.S. states continue to roll out new measures to further isolate Russia from the global economy. The latest...more

K2 Integrity

Sanctions Against Russia: The Week in Review - March 2022

K2 Integrity on

The Week in Review delivers the impact and analysis for the public, private, and non-profit sectors from our daily reporting of the evolving global sanctions campaign against Russia. ...more

NAVEX

Staying Ahead of Sanctions – What You Need to Know to Maintain Compliance

NAVEX on

The threats posed by Russia to the Ukraine, and the worldwide implications, are deeply concerning and we denounce the invasion of the Ukraine by Russia and hope that this crisis can be resolved quickly through diplomacy. ...more

Goodwin

Substantial Enhancement of Sanctions and Export Controls Targeting Russia and Belarus, Phase II

Goodwin on

Earlier this week, following Russia’s aggressive incursion into Ukraine, we reported on the imposition of U.S. sanctions in response — a modest response that reserved the heavier sanctions that have been anticipated. On...more

Goodwin

New Sanctions Imposed in Response to Russia’s Incursions in Ukraine, Phase I

Goodwin on

To counter Russia’s escalating incursions into Ukraine and threats to its sovereignty, the United States has imposed a series of sanctions on Russian and Ukrainian persons and interests, to be implemented by the U.S....more

Snell & Wilmer

Federal Court Rescinds $2 Million OFAC Penalty Against Exxon: Lessons Learned in Seeking Guidance for International Transactions

Snell & Wilmer on

On New Year’s Eve, a federal court relieved ExxonMobil of a $2 million fine levied against the company by the U.S. Treasury Department’s Office of Foreign Assets Control (“OFAC”). OFAC imposed the penalty against Exxon for...more

Eversheds Sutherland (US) LLP

Update on recent US sanctions developments - Nord Stream 2 sanctions and Exxon Mobil decision

This briefing is intended to provide an update on two recent developments under the US sanctions regime. ..The first one is the introduction of US sanctions related to the Nord Stream 2 pipeline project, which threaten to...more

The Volkov Law Group

OFAC Loses Exxon Sanctions Enforcement Case

The Volkov Law Group on

In an interesting end of year decision, issued on December 31, 2019, a District Court in Dallas issued a rejected OFAC’s enforcement action against Exxon Corporation imposing a $2 million penalty for violation of the Russia...more

Bass, Berry & Sims PLC

U.S. District Court Deals Rare Defeat to OFAC in U.S. Sanctions Matter

Bass, Berry & Sims PLC on

• $2 million penalty against Exxon overturned • Court concluded that OFAC failed to provide clear notice of violative conduct • Companies are at risk when acting in context of ambiguous agency guidance At the end of...more

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