On May 1, 2024, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) and the U.S. Department of State sanctioned nearly 300 individuals, businesses, and vessels abroad to further degrade Russia’s...more
The U.S. Expands Sanctions Against Russia to Include the Accounting, Trust and Corporate Formation Services, and Management Consulting Sectors of the Russian Economy and Expands Export Controls to Russian Industrial and...more
What are primary sanctions? Sanctions programs administered by the Office of Foreign Assets Control (“OFAC”) require the “blocking” or “freezing” of assets of an “SDN.” U.S. persons are generally prohibited from engaging in...more
On March 11, 2022, U.S. President Joe Biden signed an Executive Order banning the import of goods into the U.S. of Russian origin—seafood, spirits/vodka, and non-industrial diamonds. The Executive Order also includes an...more
Russia’s recent invasion against Ukraine is prompting the United States (U.S.) and other countries to issue sanctions and restrictions on Russia. Companies that do business in Russia or in the region should take steps to keep...more
Compared to prior years, this first half of 2021 has seen a drop in the number of published enforcement actions by the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC). The reduction is likely...more
From June through mid-September of 2020, the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) published six settlements of apparent sanctions violations (Check out our previous Four Key Takeaways...more
Court Ordered Injunction Affecting January 2020 Revisions to USML Categories I, II, and III -
On January 23, 2020, the Department of State published a final rule that amends the International Traffic in Arms Regulations...more