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Office of Foreign Assets Control (OFAC) US Department of State

Wiley Rein LLP

DOD Issues Proposed Rule to Address Conflicts of Interest for Certain Consulting Services

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Last week, the U.S. Department of Defense (DOD) published a proposed rule that would amend the Defense Federal Acquisition Regulation Supplement (DFARS) to implement a statutory prohibition on DOD awarding contracts with...more

Lowenstein Sandler LLP

Trade Matters - Lowenstein Sandler's Global Trade & National Security Newsletter - October 2024

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The U.S. Commerce Department is soliciting comments on a proposed rule to prohibit importing and selling Vehicle Connectivity System hardware and software designed, developed, manufactured, or supplied by persons owned by,...more

Mayer Brown

Russia/Ukraine Sanctions Update - Month of September

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I.  US SANCTIONS - U.S. Department of the Treasury Acts Against Russian Virtual Currency Exchanges: On September 26, the U.S. Department of the Treasury announced that its Financial Crimes Enforcement Network issued an...more

Lowenstein Sandler LLP

Trade Matters - Lowenstein Sandler's Global Trade & National Security Newsletter - September 19, 2024

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The Department of Commerce’s Bureau of Industry and Security (BIS) recently issued an interim final rule implementing licensing requirements for these emerging technology products for export to all foreign countries. See the...more

Paul Hastings LLP

Statute of Limitations for IEEPA and TWEA Violations Extended to 10 Years, and Additional Sanctions Developments

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Recent legislation, H.R. 815, the National Security Supplemental (“the Act”) – further explained by guidance issued by the U.S. Department of the Treasury Office of Foreign Assets Control (“OFAC”) on July 22, 2024 – has...more

Mayer Brown

Russia/Ukraine Sanctions Update - Month of March

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I. US SANCTIONS - US Department of the Treasury Sanctions Russian Companies Based on a Determination that They Were Supporting Sanctions Evasion: On March 25, the US Department of the Treasury’s Office of Foreign Assets...more

Paul Hastings LLP

New Sanctions on Russia Mark Two-Year Anniversary of Ukraine Invasion

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On February 23, 2024, the Biden Administration announced new sanctions targeting a number of different sectors of the Russian economy, Russian government officials and financial institutions, entities suspected of sanctions...more

Lowenstein Sandler LLP

Trade Matters - Lowenstein Sandler's Global Trade & National Security Newsletter - March 2024

On February 24, the two-year anniversary of Russia’s invasion of Ukraine, the Biden administration issued hundreds of new Russia-related export controls and sanctions. The Office of Foreign Assets Control (OFAC) and the...more

Lowenstein Sandler LLP

Trade Matters - Lowenstein Sandler's Global Trade & National Security Newsletter - February 14, 2024

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Teradyne, a Massachusetts-based supplier of semiconductor testing equipment, has reportedly pulled $1 billion of manufacturing equipment out of China in 2023 following export controls on advanced computing materials and...more

American Conference Institute (ACI)

[Event] 18th Annual Flagship Conference on Economic Sanctions Enforcement and Compliance - April 29th - 30th, Washington, DC

For over eighteen years the “who’s who” in the global sanctions’ community has attended 18th Annual Flagship Conference on Economic Sanctions Enforcement and Compliance– which is widely regarded as the premier conference for...more

Foley Hoag LLP

Department of State, OFAC, and BIS Issue Sweeping Additional Sanctions on Russia, While EU Proposes Tightening Russian Oil Price...

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U.S. authorities have been active in November 2023, reinforcing and expanding sanctions targeting Russia's war effort in Ukraine. Multiple agencies added sanctions targeting entities involved in Russia's military supply...more

The Volkov Law Group

OFAC & State Department Announce New Russia Sanctions, Targeting Military-Industrial Complex

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The United States is determined to ensure that no one profits off of Russia’s war against Ukraine. To that end, the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) has widened the scope of its...more

The Volkov Law Group

Commerce, Justice, State and Treasury Issue Unprecedented Joint Advisory Concerning Iranian UAV Procurement Activities

The Volkov Law Group on

In a relatively rare move for four (4) Cabinet-level Departments, the U.S. Departments of Commerce, Justice, State and Treasury issued an advisory notice on June 9, 2023,  aimed specifically at reminding industry of their...more

Foley Hoag LLP

Russia Sanctions Update – May 2023

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On May 19, 2023, the United States along with other members of the G7 and other allied countries imposed additional sanctions and export controls meant to further restrict Russian economic activity and degrade Russia’s...more

Seward & Kissel LLP

Compliance Flash: OFAC Announces New Reporting Requirement for Persons Who Hold Property of Certain Russian Entities

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On May 19, 2023 the United States, in coordination with the G7 and other international partners, imposed more than three-hundred new sanctions on Russia for its war in Ukraine. Press releases providing additional information...more

Fenwick & West LLP

U.S. Government Imposes New Export Controls and Sanctions on Russia and Belarus

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On May 19, 2023, the Biden administration announced another major round of U.S. sanctions and export controls against Russia and Belarus in response to the ongoing war in Ukraine, in coordination with the G7 Leaders’ Summit...more

Husch Blackwell LLP

OFAC and U.S. Department of State Issue New Sanctions and Designates More Than 300 Russian Federation Individuals and Companies...

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On Friday, May 19, 2023, the U.S. Department of Treasury’s Office of Foreign Assets Control (“OFAC”) announced the addition of more than 300 Russian Federation individuals and companies as well as other individuals and...more

BakerHostetler

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

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This update includes the U.S. Department of the Treasury’s Office of Foreign Assets Control’s (OFAC) recent actions regarding the Russian seaborne oil price cap policy aimed at maintaining the supply of Russian oil to the...more

Lowenstein Sandler LLP

Trade Matters - Lowenstein Sandler's Global Trade & National Security Newsletter - January 2023

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1. Late last year, the Federal Communications Commission (FCC) adopted new rules to block the importation and sale of telecommunications equipment considered unacceptably hazardous to U.S. national security. The Report and...more

Wiley Rein LLP

OFAC Streamlines Humanitarian General Licenses Across Sanctions Programs

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On December 21, 2022, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC), in consultation with the U.S. Department of State, published two final rules amending its regulations to add or update...more

Paul Hastings LLP

Daily Financial Regulation Update -- Tuesday, November 15, 2022

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November 14, 2022- The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC), alongside the U.S. Department of State, sanctioned a transnational network procuring technology that supports the Russian...more

Foley Hoag LLP

Russia Sanctions and Export Controls Update – July 6, 2022

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I. OFAC Prohibits Gold Importation from the Russian Federation - Implementing the declaration of G-7 leaders on June 26, 2022, the United States has joined the UK, Canada and Japan in prohibiting the importation of newly...more

Husch Blackwell LLP

US DOJ Responds to Biden Executive Order on Digital Assets

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On March 9, 2022, President Joseph Biden issued Executive Order 14067, which charged the Department of Justice (in consultation with the Departments of State, Treasury, and Homeland Security) to submit a report on how to...more

K2 Integrity

Sanctions Against Russia: The Week in Review - June 2022 - 3

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The Week in Review delivers information and analysis on recent developments related to sanctions against Russia and key implications for the public, private, and non-profit sectors as the United States (U.S.), the European...more

Locke Lord LLP

OFAC Russia and Related Sanctions ‎Update

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On May 11, 2022, the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) updated three FAQs (FAQ 1034, FAQ 1035, and FAQ 1038). Specifically, OFAC amended its guidance on the meaning of the terms...more

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