Russian Political Disinformation Efforts -
On September 4, 2024, the U.S. Department of the Treasury's Office of Foreign Assets Control (“OFAC”) designated 10 individuals and two entities as specially designated nationals...more
Iran and Syria Sanctions and Embargos On September 11, 2024, the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) issued updated guidance to remind maritime support service providers that the...more
9/25/2024
/ Economic Sanctions ,
Embargo ,
Financial Institutions ,
Foreign Policy ,
Foreign Relations ,
Iran ,
Iran Sanctions ,
ITSR ,
Office of Foreign Assets Control (OFAC) ,
SDN List ,
Syria
On August 27, 2024, the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) announced amendments to two key FAQs (FAQs 736 and 757) concerning the Cuban Assets Control Regulations (“CACR”). These FAQs...more
The U.S. Department of the Treasury’s Office of Foreign Asset Control (“OFAC”) on (i) July 10, 2024, extended General License (“GL”) 13J (“Authorizing Certain Administrative Transactions Prohibited by Directive 4 under...more
On April 29, 2024, the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) published General License (“GL”) 8I related to the Russian Harmful Foreign Activities Sanctions Regulations, 31 CFR Part...more
The U.S. Commerce Department’s Bureau of Industry and Security (“BIS”) introduced a significant final rule on March 20, 2024, intending to fortify national security. This rule amendment enhances restrictions under the Export...more
Money laundering generally refers to financial transactions in which criminals, including terrorist organizations, attempt to disguise the proceeds, sources, or nature of their illicit activities. Money laundering facilitates...more
In response to the second anniversary of Russia’s illegal war against Ukraine and the death of political opposition leader and anti-corruption activist Aleksey Navalny, the United States Department of the Treasury’s Office of...more
On January 18, 2024, the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) designated Hennesea Holdings Limited (“Hennesea”) and multiple vessels owned by Hennesea to the Specially Designated...more
On December 12, 2023, the Department of the Treasury's Office of Foreign Assets Control (“OFAC”) and the U.S. Department of State (“DOS”) sanctioned more than 250 individuals and entities by adding them to the List of...more
On December 5, 2023, the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) added several persons to the List of Specially Designated Nationals and Blocked Persons (“SDNs”) and issued General...more
On October 25, 2023, the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) published General Licenses (“GL”) 8H related to the Russian Harmful Foreign Activities Sanctions Regulations, 31 CFR Part...more
On July 20, 2023 the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) added nearly 120 individuals, entities, and vessels to the Specially Designated Nationals (“SDN”) List pursuant to Executive...more
In conjunction with the G7 Summit in Japan, the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) introduced additional economic sanctions on May 19, 2023, with the aim of further limiting the...more
On May 5, 2023, the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) published General Licenses (“GL”) 8G related to the Russian Harmful Foreign Activities Sanctions Regulations, 31 CFR Part 587...more
On April 12, 2023, the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) published four new General Licenses (“GL”) (GL 62, GL 63, GL 64, and GL 65), revoked GL 15, and issued FAQ 1122 related to the...more
4/18/2023
/ Blocked Person ,
Bureau of Industry and Security (BIS) ,
Economic Sanctions ,
Export Administration Regulations (EAR) ,
Export Controls ,
Foreign Policy ,
Foreign Relations ,
General Licenses ,
Office of Foreign Assets Control (OFAC) ,
Russia ,
SDN List
Russian “Exit Tax”. As of December 2022, the Russian Federation imposed new laws that could require U.S. persons to pay an “exit tax” prior to divesting assets located in the Russian Federation; any such payment could...more
On February 24, 2023, the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) released a new determination targeting the metals and mining sector of the Russian Federation economy under Executive Order...more
On February 8, 2023, the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) published FAQ 1113 related to the Russian Harmful Foreign Activities Sanctions Regulations, 31 CFR Part 587 (the...more
On January 26, 2023, the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) re-designated PMC Wagner (“Wagner Group”), a Russian private military company, as a significant transnational criminal...more
On December 15, 2022, the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) (1) designated several individuals and entities to the Specially Designated Nationals and Blocked Persons (“SDN”) List,...more
On November 14, 2022 the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) issued General License (“GL”) 40C related to the Russian Harmful Foreign Activities Sanctions Regulations, 31 CFR Part 587...more
G7 leaders agreed last month to implement a price cap on Russian oil sales starting December 5, 2022. In conjunction with the G-7 agreement, on October 31, 2022, the U.S. Department of the Treasury’s Office of Foreign Assets...more
U.S. Sanctions In response to Russia’s attempt to annex parts of sovereign Ukrainian territory, G7 Leaders issued a statement on September 23, 2022 condemning Russia’s sham referenda and noting their collective readiness to...more
A lot has happened since our last update. Apologies to our readers for the delay to publish this Update. Each time we were ready to go to press, OFAC published a new action. Following the recent United Nations General...more