News & Analysis as of

U.S. Treasury Embargo

Pillsbury - Global Trade & Sanctions Law

Russia Invades and the West Reacts: U.S. Government Intensifies Sanctions and Export Controls Against Russia

On February 24, 2022, the U.S. Government issued a number of sanctions measures in response to Russia’s attack on Ukraine. These measures include sweeping financial sanctions and stringent export controls, which will have...more

Venable LLP

New Sanctions Targeting Russia and Ukraine Escalate Trade Risks in the Region

Venable LLP on

The situation in the Ukraine remains highly fluid and reactions from the United States and allies continue to evolve. This is the first of a series of advisory alerts from Venable in response to the ongoing situation....more

Dorsey & Whitney LLP

U.S. and Allied Countries Impose Sanctions Targeting Russian Financial Sector and Ukraine Separatist-Territories

Dorsey & Whitney LLP on

The Biden Administration and several allied countries announced on February 22 new economic sanctions on Russia and the separatist territories in Ukraine. In the United States, the sanctions target only certain Russian...more

Lowenstein Sandler LLP

Are You Subject To US Economic Sanctions?

Lowenstein Sandler LLP on

Israel’s global reputation as ‘Start-up Nation’ and the country’s increasingly warm relationships with countries subject to U.S. economic sanctions may be headed for a collision course with the U.S. government. While these...more

Vinson & Elkins LLP

OFAC Announces a Civil Settlement Agreement For Multiple Sanctions Violations Related To Digital Currency Transactions

Vinson & Elkins LLP on

On February 18, 2021, the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) announced a half-million dollar settlement with BitPay, Inc. (“BitPay”), a U.S. company that processes digital currency...more

The Volkov Law Group

Travel Insurance Companies Hit with OFAC Enforcement Actions

The Volkov Law Group on

The Treasury Department’s Office of Foreign Asset Control (“OFAC”) continues to rack up settlements.  Two travel insurance companies recently settled OFAC enforcement actions for violations of the Cuban Embargo....more

Pillsbury - Global Trade & Sanctions Law

UN and U.S. Sanctions Target North Korea: Impacts for Asia and Beyond

The United Nations and United States recently took significant new steps to expand sanctions on North Korea, with implications for international banking; shipping and port activities; air transport; energy and mining sectors;...more

McDermott Will & Emery

US Treasury and Commerce Departments Announce New Changes to Cuba Regulations

McDermott Will & Emery on

On January 25, 2016, the US Treasury Department’s Office of Foreign Assets Control (OFAC) and the US Commerce Department's Bureau of Industry and Security (BIS) announced new changes to existing US sanctions on Cuba,...more

Carlton Fields

Cuba Sanctions Relief: Baby Steps Today, But What About Tomorrow?

Carlton Fields on

For more than 50 years, an embargo and related sanctions regime has restricted U.S. businesses and individuals from virtually all economic activity involving Cuba or its nationals. This regime was implemented through a...more

Adams and Reese LLP

White House Announces Another Round of Sweeping Regulatory Adjustments to Cuban Sanctions

Adams and Reese LLP on

Although Congress has remained cautious of taking any action to ease the American-imposed embargo on the majority of business interactions with Cuba, President Obama’s administration continues to push forward with the...more

Baker Donelson

You Want to Export to Cuba? Get Ready, But You Probably Can’t Quite Yet.

Baker Donelson on

New rules came out on September 21, 2015 from both the Commerce and Treasury Departments. Although for the most part these changes only slightly broaden or clarify pre-existing exceptions to the embargo against Cuba, they...more

Morgan Lewis

US Government Further Relaxes Trade Restrictions with Cuba

Morgan Lewis on

However, the new transaction rules leave the embargo largely in effect. Early this week, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) and the Department of Commerce’s Bureau of Industry and...more

Baker Donelson

New Opportunities in Cuba for U.S. Travel and Medical Companies – Cigars but not Commerce

Baker Donelson on

After President Obama's announcement that his Administration will pursue a policy aimed at improving U.S.-Cuba diplomatic relations and ultimately eliminating the economic embargo on Cuba, the U.S. Treasury and Commerce...more

Ogletree, Deakins, Nash, Smoak & Stewart,...

Softening of Cuba Sanctions Opens the Way for Some Travel and Trade

As part of a broader, ongoing effort to forge closer relations with Cuba, the Obama administration has enacted a new set of regulations intended to facilitate certain forms of authorized travel to Cuba. The regulations, which...more

K&L Gates LLP

U.S. Government Implements Cuba Policy Changes

K&L Gates LLP on

On January 16, 2015, the Office of Foreign Assets Control, U.S. Department of the Treasury (“OFAC”), and the Bureau of Industry and Security, U.S. Department of Commerce (“BIS”), each published regulations implementing the...more

Sheppard Mullin Richter & Hampton LLP

OFAC Issues Cuban Asset Control Regulations Focused on the U.S. Financial Sector

On January 15, 2015, the Department of Treasury’s Office of Foreign Assets Control (OFAC) amended the Cuban Assets Control Regulations to implement changes in U.S. policy toward Cuba announced by President Obama on December...more

Blank Rome LLP

Major Changes to Cuban Assets Control and Export Regulations Create New Opportunities for Trade

Blank Rome LLP on

Action Item: On January 16, 2015, the U.S. Department of the Treasury’s Office of Foreign Assets Control and the U.S. Department of Commerce amended the Cuban Assets Control Regulations and the Export Administration...more

King & Spalding

The Obama Administration Revises the Cuba Sanctions Regulations to Expand Trade Opportunities While Certain Law Makers Question...

King & Spalding on

On January 15, the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) released important updates to the Cuban Assets Control Regulations (“CACR”). The U.S. Department of Commerce’s Bureau of Industry...more

Foley & Lardner LLP

Treasury Department Eases Cuba Sanctions

Foley & Lardner LLP on

New Rules Open Opportunities for Exports, Financial Services, and Travel- On January 16, 2014, the U.S. Treasury Department issued new sanctions regulations easing the 54-year old Cuban embargo. Coming in the wake of...more

BakerHostetler

Where the Rubber Meets the Road: Obama Administration Announces Regulatory Amendments to U.S. Cuba Sanctions

BakerHostetler on

On January 16, 2015, the U.S. Department of the Treasury (“Treasury”) amended the Cuban Assets Control Regulations, 31 C.F.R. Part 515 (“CACR”), and the U.S. Department of Commerce amended the Export Administration...more

Morgan Lewis

Partial Relaxation of Cuban Sanctions: New Regulations Issued

Morgan Lewis on

The U.S. Department of the Treasury and the U.S. Department of Commerce have released new regulations that loosen restrictions on trade and travel with Cuba....more

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