On February 23, 2024, the Treasury Department’s Office of Foreign Assets Control (“OFAC”) and Department of State together announced more than 500 sanctions designations targeting government officials, companies, and...more
On Friday, February 24, 2023, the US Treasury Department’s Office of Foreign Assets Control (“OFAC”) issued new sanctions against individuals and entities operating in Russia and against those assisting with Russia’s war...more
The Department of Commerce’s Bureau of Industry and Security (“BIS”) announced today new export controls and Entity List additions designed to further restrict Russia’s ability to maintain its continued war against Ukraine....more
On June 28, 2022, the Department of Treasury’s Financial Crimes Enforcement Network (“FinCEN”) and the U.S. Department of Commerce’s Bureau of Industry and Security (“BIS”) issued a Joint Alert urging financial institutions...more
7/1/2022
/ Belarus ,
Bureau of Industry and Security (BIS) ,
Corporate Counsel ,
Economic Sanctions ,
Export Controls ,
Financial Institutions ,
FinCEN ,
Russia ,
U.S. Commerce Department ,
U.S. Treasury ,
Ukraine
This blog post covers several new sanctions and export controls that the U.S. government imposed on Russia and Belarus in the time period occurring between March 31, 2022 and April 21, 2022. ...more
4/25/2022
/ Bureau of Industry and Security (BIS) ,
CAPTA List ,
Commerce Control List ,
ECCNs ,
Economic Sanctions ,
Export Administration Regulations (EAR) ,
Export Controls ,
Foreign Direct Product Rule ,
General Licenses ,
Office of Foreign Assets Control (OFAC) ,
Presidential Proclamations ,
Russia ,
SDN List ,
Trade Relations ,
U.S. Commerce Department ,
U.S. Treasury ,
Ukraine
On February 24, 2022, the U.S. imposed sweeping sanctions and export controls actions in response to the Russian Federation’s (“Russia”) “war of choice” against Ukraine. ...more
3/8/2022
/ Bureau of Industry and Security (BIS) ,
Economic Sanctions ,
European Central Bank ,
Executive Orders ,
Export Administration Regulations (EAR) ,
Export Controls ,
General Licenses ,
Joe Biden ,
Office of Foreign Assets Control (OFAC) ,
Russia ,
SDN List ,
SWIFT ,
U.S. Commerce Department ,
U.S. Treasury ,
Ukraine
Key point: On February 24, 2022, the United States imposed a combination of extensive and complex trade sanctions and export controls against the Russian Federation (Russia) in response to its invasion of Ukraine. These...more
2/28/2022
/ Bureau of Industry and Security (BIS) ,
CAPTA List ,
Commerce Control List ,
ECCNs ,
Economic Sanctions ,
Export Controls ,
General Licenses ,
Office of Foreign Assets Control (OFAC) ,
Popular ,
Russia ,
SDN List ,
Ukraine
On February 22, 2022, one day after the Russian Federation formally recognized the Donetsk People’s Republic (“DNR”) and Luhansk People’s Republic (“LNR”) of Ukraine as “independent states” and the Biden Administration...more
2/23/2022
/ Banks ,
CBW Act ,
Economic Sanctions ,
Energy Sector ,
Export Administration Regulations (EAR) ,
Financial Services Industry ,
General Licenses ,
Office of Foreign Assets Control (OFAC) ,
Russia ,
SDN List ,
SSI List ,
U.S. Commerce Department ,
U.S. Treasury ,
Ukraine
On February 21, 2022, U.S. President Joseph R. Biden Jr. issued an Executive Order (the “Ukraine Order”) in response to action taken earlier in the day by Russian Federation President Vladimir Putin to recognize the Donetsk...more
Russia has amassed more than 100,000 troops at the Ukrainian border, leading the White House to issue a warning on January 25 that the U.S. is “prepared to implement sanctions with massive consequences that were not...more
2/2/2022
/ Bureau of Industry and Security (BIS) ,
EU ,
Export Administration Regulations (EAR) ,
Export Controls ,
Joe Biden ,
Office of Foreign Assets Control (OFAC) ,
Russia ,
Sanctions ,
SDN List ,
SWIFT ,
Ukraine
As tensions run high between Washington and Moscow over a possibly imminent Russian invasion of Ukraine, the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) designated today four (4) current and...more
The U.S. Treasury’s Office of Foreign Assets Control (“OFAC”) has recently issued two new General Licenses to extend pre-existing authorizations for transactions with GAZ Group that would otherwise be prohibited under OFAC’s...more
On November 9, 2018, the U.S. Department of Treasury’s Office of Foreign Assets Control (OFAC) extended the expiration date for certain Ukraine-related general licenses related to EN+ Group plc (EN+), United Company RUSAL PLC...more