The Biden Administration’s recent expansion of sanctions and export controls to counter Russian aggression will impact non-U.S. financial institutions and increase compliance risks for the business software sector and other...more
6/24/2024
/ Bureau of Industry and Security (BIS) ,
Economic Sanctions ,
Export Administration Regulations (EAR) ,
Export Controls ,
Foreign Financial Institutions (FFI) ,
General Licenses ,
Information Technology ,
Liquid Natural Gas ,
Office of Foreign Assets Control (OFAC) ,
Russia ,
SDN List ,
Software ,
U.S. Treasury
On May 28, 2024, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) announced amendments to the Cuban Assets Control Regulations (CACR), which expand authorizations for certain financial and...more
6/5/2024
/ Cuba ,
Cuban Assets Control Regulations (CACR) ,
Economic Sanctions ,
Entrepreneurs ,
Export Controls ,
Internet ,
Joe Biden ,
Office of Foreign Assets Control (OFAC) ,
Popular ,
Sole Proprietorship ,
U.S. Treasury
On September 15, 2022, the Biden Administration announced a new package of sanctions and export controls to hold the Russian government accountable for its war against Ukraine. ...more
9/21/2022
/ Belarus ,
Biden Administration ,
Bureau of Industry and Security (BIS) ,
Corporate Counsel ,
Economic Sanctions ,
Executive Orders ,
Export Administration Regulations (EAR) ,
Export Controls ,
Office of Foreign Assets Control (OFAC) ,
Popular ,
Russia ,
SDN List ,
Technology Sector ,
U.S. Treasury ,
Ukraine ,
US State Departments
On March 31, 2022, the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) imposed sanctions on 21 entities and 13 individuals “as part of its crackdown on the Kremlin’s sanctions evasion networks and...more
4/6/2022
/ Bureau of Industry and Security (BIS) ,
Entity List ,
Executive Orders ,
Export Administration Regulations (EAR) ,
Office of Foreign Assets Control (OFAC) ,
Russia ,
Sanctions ,
SDN List ,
Software ,
Technology Sector ,
U.S. Commerce Department ,
U.S. Treasury
UPDATE-
The Department of Commerce’s Bureau of Industry and Security (BIS) released new export restrictions on Belarus that largely mimic those applicable to Russia, including broad licensing requirements and the addition...more
3/4/2022
/ Blocking Sanctions ,
Bureau of Industry and Security (BIS) ,
CAPTA List ,
Commerce Control List ,
ECCNs ,
Economic Sanctions ,
Export Administration Regulations (EAR) ,
Export Controls ,
Foreign Direct Product Rule ,
General Licenses ,
Joe Biden ,
Office of Foreign Assets Control (OFAC) ,
Russia ,
SDN List ,
U.S. Treasury ,
Ukraine
On January 20, 2022, the U.S. Department of the Treasury’s (Treasury) Office of Foreign Assets Control (OFAC) sanctioned four individuals who are acting at the direction of the Russian Federal Security Service (FSB) to...more
Last week, the U.S. Government imposed tough restrictions on U.S. transactions with specific companies in the People’s Republic of China (PRC) that are involved in activities contrary to U.S. foreign policy and national...more
12/21/2021
/ Bureau of Industry and Security (BIS) ,
Child Labor ,
China ,
Entity List ,
Executive Orders ,
Export Administration Regulations (EAR) ,
Forced Labor ,
Joe Biden ,
National Security ,
Office of Foreign Assets Control (OFAC) ,
PRC ,
Securities Exchange Act ,
Surveillance ,
U.S. Commerce Department ,
U.S. Treasury