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Biden Administration Office of Foreign Assets Control (OFAC) Sanctions

White & Case LLP

Sanctions move up the agenda for lenders and borrowers

White & Case LLP on

Compliance with sanctions regimes has been a priority for debt markets. Amid rising geopolitical tensions, the stakes for lenders and borrowers are higher than ever - Intensifying geopolitical tensions and the US...more

Sheppard Mullin Richter & Hampton LLP

Say SoL Long to Short Limits: Doubling Down on the Sanctions Statute of Limitations

Effective April 24, the statute of limitations (“SoL”) under the International Emergency Economic Powers Act (“IEEPA”) and the Trading with the Enemy Act (“TWEA”) has been extended from five to ten years. It would have been...more

Brownstein Hyatt Farber Schreck

Venezuela Energy Sanctions Reimposed Barring Democratic Reforms

On April 17, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) released General License (GL) 44A, requiring the wind down of business transactions with Venezuela’s state-owned energy company Petróleos...more

A&O Shearman

Sanctions Round Up: Second Quarter 2022

A&O Shearman on

With the war in Ukraine raging on, the U.S. continued to escalate its sanctions response against Russia. The U.S. announced extensive trade and investment bans that prohibit U.S. persons from making any “new investment” in...more

A&O Shearman

Sanctions Round Up: First Quarter 2022

A&O Shearman on

The world’s response to Russia’s invasion of Ukraine dominated the first quarter of 2022, as the US and its international partners coordinated efforts to impose unprecedented sanctions designed to isolate the Russian...more

A&O Shearman

US, EU and UK Target Russia with New Sanctions as Ukraine Invasion Escalates

A&O Shearman on

Since late February 2022, the United States (U.S.), the European Union (EU) and its member states, the United Kingdom (U.K.), and many others—including Japan, Australia, New Zealand, Taiwan and Canada—have imposed sweeping...more

A&O Shearman

Sweeping New Sanctions: US, EU, UK and Other Countries Target Russia for Ukraine Invasion

A&O Shearman on

Over the past week, the United States, the European Union and its member states, the United Kingdom, and several other countries have imposed rounds of sweeping new sanctions on Russia in response to its invasion of Ukraine....more

Snell & Wilmer

The Russia-Ukraine Conflict: How to Prepare for Looming Sanctions

Snell & Wilmer on

As the Russia-Ukraine conflict escalates, the U.S. Government has started to implement new sanctions on Russian entities on top of the ones that already existed. On February 21, 2022, the Executive Order on Blocking Property...more

Wiley Rein LLP

Biden Administration Imposes “First Tranche” of Sanctions in Response to Russian Actions in Ukraine

Wiley Rein LLP on

On February 22 and 23, 2022, the Biden Administration announced additional sanctions on Russia. The first group of sanctions was announced on February 22, following Russia’s recognition of the so-called Donetsk and Luhansk...more

Wilson Sonsini Goodrich & Rosati

Biden Administration Authorizes New Sanctions on Regions of Ukraine

New Sanctions Also Authorized on Russian Financial Institutions, Elites, and Sovereign Debt, with UK and EU Sanctions to Follow - The Biden administration announced measures this week in response to the Russian...more

Sheppard Mullin Richter & Hampton LLP

U.S., UK and EU Sanctions Over Putin’s Recognition of Breakaway Ukraine Regions

U.S. Comprehensive Sanctions Against the DNR and the LNR - Scope: the DNR and LNR - The new EO does not detail which parts of the Donetsk and Luhansk regions[1] are subject to the new U.S. sanctions. It is likely that...more

A&O Shearman

Sanctions Roundup: Fourth Quarter 2021

A&O Shearman on

Closing the year with a renewed focus on the People’s Republic of China, the Biden Administration imposed new export restrictions on US-origin technology to Chinese tech firms to hinder the PRC’s military and security...more

Wilson Sonsini Goodrich & Rosati

2021 U.S. Sanctions Year in Review

In January 2021, President Biden was sworn into office and for the first time in a decade, Democrats assumed control of both chambers of Congress. Notwithstanding these changes, the U.S. government has continued to rely on...more

Foley Hoag LLP

Biden Administration Focus on Cybercrime Continues with Israeli Companies Added to Entity List, New Export Controls, and...

Foley Hoag LLP on

On November 3, 2021, the U.S. Department of Commerce’s Bureau of Industry and Security (“BIS”) added two Israeli entities to the Entity List due to malicious cyber activities. In its press release, BIS stated that the...more

K2 Integrity

Treasury Releases 2021 Sanctions Review

K2 Integrity on

On October 18, 2021, the U.S. Department of the Treasury released the 2021 Sanctions Review (“the Review”), which delineates Treasury’s framework for employing economic sanctions and provides key recommendations on...more

Skadden, Arps, Slate, Meagher & Flom LLP

US Department of the Treasury Publishes Sanctions Review Results

On October 18, 2021, the U.S. Department of the Treasury released the results of its broad review of economic and financial sanctions. The review, initiated by the Biden administration, included discussions with Congress,...more

Lowenstein Sandler LLP

Trade Matters - August 2021

1. Biden Administration Trade Posture- The Biden administration is slowly and steadily reviewing the decisions of the Trump administration. So far, the administration has struck a deal with the EU to end the 17-year-old...more

Skadden, Arps, Slate, Meagher & Flom LLP

US Amends Sanctions Targeting Investments in Securities of Chinese Companies

On June 3, 2021, President Joe Biden issued Executive Order 14032 (EO 14032) amending and, in effect, recasting Executive Order 13959 of November 12, 2020 (EO 13959), which restricted U.S. persons from purchasing and selling...more

Lowenstein Sandler LLP

Trade Matters - Lowenstein Sandler's Global Trade & Policy Newsletter - June 2021

1. Recent Enforcement: Even Companies That Invest in Compliance Pay Penalties- Since our April enforcement roundup, the Office of Foreign Assets Control (OFAC) and the Bureau of Industry and Security (BIS) in the Department...more

K2 Integrity

Virtual Assets and Sanctions: What Businesses Need to Know

K2 Integrity on

As virtual assets explode in value, use, and popularity, governments around the world are taking notice, increasing sanctions-related scrutiny of companies that provide related services and focusing regulatory and enforcement...more

Morrison & Foerster LLP

Senate Republicans Introduce Legislation To Impose Sanctions On Nord Stream 2 Following The Biden Administration’s Waiver

The legal and political skirmishing continued on both sides of the Atlantic in recent weeks over Nord Stream 2, the nearly finished Russian natural gas pipeline that continues to serve as a flash point within Europe and...more

Jones Day

United States Imposes New Sanctions on Russia

Jones Day on

The Situation: On April 15, 2021, the United States issued a new executive order and related directive imposing additional sanctions on Russia that target dealings in Russian sovereign debt, the technology and defense sectors...more

Skadden, Arps, Slate, Meagher & Flom LLP

US Imposes Additional Round of Sanctions on Russia Amid Increasing Tensions

On April 15, 2021, President Joe Biden issued Executive Order 14024, titled the “Executive Order on Blocking Property With Respect to Specified Harmful Foreign Activities of the Government of the Russian Federation,” which...more

Orrick, Herrington & Sutcliffe LLP

New Sanctions Targeting Russia

President Biden issued a new Executive Order 14024 (“E.O. 14024”) on April 15, 2021, expanding sanctions against Russia. E.O. 14024 authorizes, for the first time, U.S. sanctions against Russian technology companies and,...more

Husch Blackwell LLP

Biden Administration Imposes New Russia Sanctions And Establishes Framework For Future Expansion Of Russian Sanctions Regime

Husch Blackwell LLP on

Recently, the U.S. Treasury Department’s Office of Foreign Assets Control (“OFAC”) sanctioned various individuals and entities connected to Russia’s technology sector and also expanded sanctions against dealings in Russian...more

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