In a public event at the White House on April 2, President Trump announced the imposition of “reciprocal” tariffs on virtually all goods imported into the United States from all countries.
For certain countries the...more
As Russia’s invasion of Ukraine persists, with no end currently in sight, the United States continues to issue increasingly punishing economic sanctions and export controls targeting Russia, most recently aiming at the...more
5/17/2022
/ Bureau of Industry and Security (BIS) ,
Department of Justice (DOJ) ,
Economic Sanctions ,
Export Administration Regulations (EAR) ,
Export Controls ,
Exports ,
Foreign Corrupt Practices Act (FCPA) ,
Foreign Entities ,
General Licenses ,
Office of Foreign Assets Control (OFAC) ,
Professional Services Companies ,
Russia ,
Ukraine
Russia’s invasion into Ukraine in February 2022 has prompted the United States and its allies, including the United Kingdom, the European Union, and others, to issue substantial international trade restrictions such as...more
4/21/2022
/ Banks ,
Belarus Sanctions ,
Economic Sanctions ,
EU ,
Export Controls ,
Financial Transactions ,
Office of Foreign Assets Control (OFAC) ,
Russia ,
Trade Relations ,
Trade Restrictions ,
UK ,
Ukraine
Following Russia’s recognition of breakaway regions in Ukraine and full-scale invasion of the country, authorities in the United States, United Kingdom, European Union, and across the globe imposed a sweeping array of trade...more
3/22/2022
/ Anti-Money Laundering ,
Anti-Terrorism Financing ,
Bank Secrecy Act ,
Belarus ,
Bureau of Industry and Security (BIS) ,
Convertible Virtual Currencies (CVCs) ,
Cryptocurrency ,
Department of Justice (DOJ) ,
Economic Sanctions ,
EU ,
Executive Orders ,
Export Administration Regulations (EAR) ,
Export Controls ,
Financial Institutions ,
FinCEN ,
Imports ,
Office of Foreign Assets Control (OFAC) ,
Patriot Act ,
Russia ,
SDN List ,
SWIFT ,
U.S. Treasury ,
UK ,
Ukraine
On February 21, 2022, Russian President Vladimir Putin unilaterally recognized the Luhansk and Donetsk regions in Eastern Ukraine (Covered Regions) as independent states. Thereafter, Mr. Putin authorized a full-scale invasion...more
3/3/2022
/ Banking Sector ,
Bureau of Industry and Security (BIS) ,
CAPTA List ,
Economic Sanctions ,
Export Controls ,
Exports ,
Financial Institutions ,
Financial Transactions ,
FinTech ,
Office of Foreign Assets Control (OFAC) ,
Russia ,
SDN List ,
Sovereign Debt ,
SWIFT ,
Ukraine
Agency’s Focus on Cryptocurrency and Blockchain Continues -
On September 21, 2021, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) released an updated advisory to “highlight the sanctions...more
10/5/2021
/ Crypto Exchanges ,
Currency Exchange ,
Cyber Attacks ,
Cybersecurity ,
Economic Sanctions ,
Enforcement Actions ,
Guidance Update ,
Homeland Security Cybersecurity & Infrastructure Security Agency (CISA) ,
Office of Foreign Assets Control (OFAC) ,
Ransomware ,
U.S. Treasury ,
Virtual Currency
The U.S. government on July 14, 2020, took two significant steps to address the evolving situation in Hong Kong. These were primarily in response to the enactment of the Law of the People's Republic of China on Safeguarding...more
7/22/2020
/ Blocking Sanctions ,
China ,
Economic Sanctions ,
Exceptions ,
Executive Orders ,
Export Controls ,
Foreign Financial Institutions (FFI) ,
Foreign Persons ,
Hong Kong ,
Hong Kong Autonomy Act (HKAA) ,
Penalties ,
Preferential Trade Status ,
Termination Clauses ,
Trump Administration ,
US Trade Policies
The Office of Foreign Assets Control (OFAC), an agency of the U.S. Department of the Treasury, administers and enforces U.S. economic sanctions programs against targeted foreign governments, individuals, groups and entities...more
5/8/2019
/ Audits ,
Chief Compliance Officers ,
Corporate Counsel ,
Corporate Officers ,
Economic Sanctions ,
Enforcement Actions ,
Internal Controls ,
National Security ,
New Guidance ,
Office of Foreign Assets Control (OFAC) ,
Policies and Procedures ,
Risk Assessment ,
Senior Managers