News & Analysis as of

Economic Sanctions SDN List Financial Transactions

The Volkov Law Group

U.S. Sanctions Update as of April 2024

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U.S. Persons prohibited from transactions with anyone on the OFAC SDN List without a license, regardless of country. Includes entities owned in excess of 50-percent by one or more SDNs (33-percent for select Russian...more

WilmerHale

New Multi-Jurisdictional Sanctions Continue to Target Broad Scope of Activities With Russia

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In conjunction with the Group of Seven (G7) leaders meeting in Italy earlier this month, key jurisdictions issued the latest in a series of coordinated economic restrictions on Russia in light of its invasion of Ukraine in...more

Blank Rome LLP

New Russia Sanctions Target IT Services, Enterprise Management Software, and Foreign Financial Transactions

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The U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) and the U.S. Department of Commerce’s Bureau of Industry and Security (“BIS”) recently issued a significant new round of sanctions and export...more

BakerHostetler

Current State of U.S. Export Controls in Response to the Russian Federation’s Invasion of Ukraine - May 2024

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In response to Russia’s invasion of Ukraine, the U.S. government has deployed a whole-of-government approach to impose sanctions and tighter export controls on Russia. ...more

Eversheds Sutherland (US) LLP

US sanctions hundreds of targets on two-year anniversary of Russia’s invasion of Ukraine and in response to Aleksei Navalny’s...

Contemporaneous with the European Union’s adoption of its 13th package of Russia sanctions, on February 23, 2024, the United States imposed sanctions against nearly 500 targets in continued response to Russia’s aggression...more

BakerHostetler

Current State of U.S. Economic Sanctions Imposed in Response to Russia’s Invasion of Ukraine - February 2024

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In response to Russia’s invasion of Ukraine, the U.S. government has deployed a whole-of-government approach to impose sanctions and tighter export controls on Russia. This alert summarizes key economic sanctions imposed by...more

Oberheiden P.C.

OFAC Compliance: Avoiding Common Root Causes of Compliance Policy Breakdowns and Deficiencies

Oberheiden P.C. on

For financial institutions and businesses that are subject to the oversight of the Office of Foreign Assets Control (OFAC), compliance needs to be a priority in 2023. OFAC is playing an increasingly active role in overseeing...more

Foley Hoag LLP

Russia Sanctions Update - July 27, 2023

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On July 20, 2023, the Department of Treasury’s Office of Foreign Asset Control (“OFAC”) designated additional entities in order to further disrupt Russian access to military supplies and deprive the Russian government of...more

Latham & Watkins LLP

Sanctions Update: US, EU, UK Introduce New Sanctions and Export Controls to Mark One-Year Anniversary of Russian Invasion of...

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New announcements and rules expand the scope of existing sanctions and export controls on Russia. This Client Alert is published in the context of ongoing developments and should be read in conjunction with the Latham’s...more

Goodwin

Marking One Year of War, US Broadens Sanctions and Export Controls Against Russia and Other Actors

Goodwin on

Broadening its response to Russia’s one-year-old assault on Ukraine, the United States announced additional export control and sanctions measures, effective February 24, 2023. These new measures expand restrictions on...more

Eversheds Sutherland (US) LLP

Russia and Belarus sanctions update - March 2023

In recognition of the one-year anniversary of Russia’s invasion of Ukraine, the US Department of the Treasury’s Office of Foreign Assets Control (OFAC) and US Department of Commerce’s Bureau of Industry and Security (BIS)...more

BakerHostetler

Current State of U.S. Economic Sanctions Imposed on the Russian Federation and Covered Regions of Ukraine in Response to the...

BakerHostetler on

This update addresses the full implementation of the price cap policy for crude oil and petroleum products of Russian origin by the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC). On Feb. 3, OFAC...more

The Volkov Law Group

OFAC Issues Notice of Violation Against Puerto Rico Bank But Imposes No Penalty for Sanctions Violations

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The Department of Treasury’s Office of Foreign Assets Control (“OFAC”) issued a finding of violation (“FoV”) to Nodus International Bank, Inc. (“Nodus”), located in Puerto Rico, for violation of Venezuelan Sanctions. Nordus...more

BCLP

Russia sanctions update: New SDN designations, services prohibitions; Further expansion of U.S. export control restrictions

BCLP on

On September 15, 2022, the United States imposed further export control and sanctions measures in response to the ongoing conflict in Ukraine. Among the additional measures implemented are the following...more

Cadwalader, Wickersham & Taft LLP

Lessons Learned from Recent OFAC Enforcement Actions

Two recent OFAC enforcement actions highlight real-world challenges that financial institutions and other companies may face in their efforts to implement an effective sanctions compliance program....more

The Volkov Law Group

OFAC Settles for $430,500 with American Express National Bank for Violation of Foreign Narcotics Kingpin Sanctions

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Since its last enforcement action against Banco Popular in late May, OFAC has been quiet on the enforcement front.  Notwithstanding its silence, OFAC has been managing a robust and complex coordinated economic sanctions...more

Bass, Berry & Sims PLC

Russia, Ukraine: Update as of July 7

The Bass, Berry & Sims international trade team is actively monitoring the situation in Russia and Ukraine and providing real-time advice to clients on managing the situation. This post summarizes new U.S. sanctions and...more

Manatt, Phelps & Phillips, LLP

U.S. Economic Sanctions Against Russia Grow Amid the Ukraine Crisis: What Businesses Need to Know (UPDATED)

Originally Published: February 25, 2022 – Updated: May 16, 2022 U.S. economic sanctions against Russian interests continue to build in response to the developing situation between the Russian Federation and Ukraine. Donetsk...more

Latham & Watkins LLP

Sanctions and Export Controls Update: US, UK, and EU Developments Relating to Russia

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New rules and announcements expand existing sanctions and export controls relating to Russia. This Client Alert is published in the context of ongoing developments and should be read in conjunction with the Latham &...more

K&L Gates LLP

Between a Rock and a Hard Place: The Sanctions Climate for Foreign Investment in Russia - Part I of II

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Russia’s invasion of Ukraine and subsequent revelations of alleged atrocities in territories previously controlled by Russia have had a global impact. Dozens of foreign countries (States) have imposed a wide variety of...more

Manatt, Phelps & Phillips, LLP

U.S. Economic Sanctions Against Russia Grow Amid the Ukraine Crisis: What Businesses Need to Know (UPDATED)

Originally Published: February 25, 2022 – Updated: April 18, 2022 - U.S. economic sanctions against Russian interests continue to build in response to the developing situation between the Russian Federation and Ukraine. ...more

Sheppard Mullin Richter & Hampton LLP

U.S. and Allies Impose Additional Severe Costs on Russia for Atrocities in Ukraine (update)

Updated as of April 12, 2022 - It has now been more than 40 days since the start of Putin’s brutal invasion of Ukraine. Today, following the recent revelations of the atrocities committed in Bucha, Ukraine by Russian armed...more

Foley Hoag LLP

Russia Sanctions Update – April 11, 2022

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U.S. Actions Following increased sanctions on Russian banks and a new Executive Order banning investment in the Russian Federation (reported by Foley Hoag here), on April 7, 2022, the U.S. sanctioned two major Russian...more

White & Case LLP

US Imposes Additional Investment Restrictions, Other Sanctions, and Export Controls on Russia

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Authored by our Global Sanctions Team In early April 2022, the US imposed additional sanctions and export-controls restrictions on Russia. The restrictions include a new Executive Order prohibiting new investment in the...more

Robinson+Cole Data Privacy + Security Insider

Update on OFAC Cyber Sanctions List: Hydra and Garantex

On April 5, 2022, the U.S. Department of Treasury Office of Foreign Assets Control (OFAC) sanctioned darkweb Hydra Marketplace and virtual currency Garantex and added both to the Specially Designated Nationals List (SDN). ...more

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