On May 23, 2025, the Office of Foreign Assets Control (OFAC) issued General License 25 (GL 25), authorizing transactions prohibited by the Syrian Sanctions Regulations, effectively lifting sanctions on Syria. This comes 10...more
5/30/2025
/ Banking Sector ,
Economic Sanctions ,
Energy Sector ,
EU ,
Foreign Policy ,
Investment ,
National Security ,
Office of Foreign Assets Control (OFAC) ,
Oil & Gas ,
Syria ,
Trump Administration ,
UK
On February 5, 2025, the US Department of Justice (DOJ) issued two memoranda, General Policy Regarding Charging, Plea Negotiations, and Sentencing and Total Elimination of Cartels and Transnational Criminal Organizations,...more
2/10/2025
/ Anti-Bribery ,
Anti-Money Laundering ,
Department of Justice (DOJ) ,
Economic Sanctions ,
Enforcement Actions ,
Enforcement Priorities ,
Export Controls ,
Foreign Corrupt Practices Act (FCPA) ,
Human Trafficking ,
Immigration Enforcement ,
Immigration Reform ,
National Security ,
Trump Administration
On January 10, 2025, the Biden Administration issued a broad sanctions package targeting the Russian energy sector, 10 days in advance of the transition to the incoming Trump Administration. The new sanctions also added two...more
1/14/2025
/ Biden Administration ,
Blocked Person ,
Department of Energy (DOE) ,
Economic Sanctions ,
Energy Sector ,
Enforcement Actions ,
Foreign Policy ,
General Licenses ,
Office of Foreign Assets Control (OFAC) ,
Oil & Gas ,
Russia ,
U.S. Treasury ,
UK
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
2/27/2024
/ Biden Administration ,
Defense Sector ,
Economic Sanctions ,
Executive Orders ,
Federal Procurement Systems ,
Financial Institutions ,
Financial Transactions ,
FinTech ,
Foreign Policy ,
General Licenses ,
Military Conflict ,
Office of Foreign Assets Control (OFAC) ,
Oil & Gas ,
Payment Systems ,
Russia ,
Russian Military Procurement ,
SDN List ,
Ukraine ,
US State Departments
On May 19, 2023, the Biden Administration along with leaders of the Group of Seven (G7), unveiled a new package of sanctions. The G7 leaders released a joint statement reaffirming their commitment to offer “the financial,...more
6/6/2023
/ Biden Administration ,
Bureau of Industry and Security (BIS) ,
Defense Sector ,
Economic Sanctions ,
Energy Sector ,
Entity List ,
Evasion ,
Executive Orders ,
Export Controls ,
Foreign Policy ,
G7 ,
General Licenses ,
Military Conflict ,
Office of Foreign Assets Control (OFAC) ,
Prohibited Transactions ,
Russia ,
SDN List ,
Third-Party ,
U.S. Commerce Department ,
Ukraine
Oil price cap -
The oil price cap has been co-ordinated by the G7 in order to make EU, UK and US services (including (re)insurance) available to third country importers and exporters as long as the price paid for...more
12/12/2022
/ Asset Freeze ,
Belarus ,
Belarus Sanctions ,
Biden Administration ,
Crude Oil ,
Economic Sanctions ,
EU ,
Export Controls ,
Exports ,
G7 ,
General Licenses ,
Imports ,
Office of Foreign Assets Control (OFAC) ,
Oil & Gas ,
Oil Prices ,
Russia ,
SDN List ,
Switzerland ,
Third Country Entities (TCEs) ,
UK ,
Ukraine
Recently, the US Department of the Treasury’s Office of Foreign Assets Control (OFAC) has taken additional actions against Russia in response to its continued invasion of Ukraine. Specifically, OFAC:
..Issued guidance...more
10/31/2022
/ Asset Freeze ,
Belarus ,
Blocked Entities ,
Blocked Person ,
Economic Sanctions ,
EU ,
Export Controls ,
General Licenses ,
Office of Foreign Assets Control (OFAC) ,
Russia ,
Switzerland ,
Trade Restrictions ,
UK ,
Ukraine
Recently, the Biden Administration adopted additional sanctions in response to Russia’s attempts to annex parts of sovereign Ukrainian territory, including the designation of 14 persons in Russia’s military industrial...more
10/13/2022
/ Belarus ,
Bureau of Industry and Security (BIS) ,
Economic Sanctions ,
Entity List ,
Export Administration Regulations (EAR) ,
Export Controls ,
Exports ,
Military Conflict ,
Military End Use ,
New Guidance ,
Russia ,
Third Country Entities (TCEs) ,
U.S. Commerce Department ,
Ukraine
Over the past few weeks, the Office of Foreign Assets Control (OFAC) of the US Department of the Treasury ramped up sanctions pressure against Russia with the announcement of a new ban on certain services in seaborne Russian...more
9/23/2022
/ Asset Freeze ,
Belarus ,
Belarus Sanctions ,
Blocked Entities ,
Blocked Person ,
Economic Sanctions ,
Export Controls ,
General Licenses ,
Office of Financial Sanctions Implementation (OFSI) ,
Office of Foreign Assets Control (OFAC) ,
Oil & Gas ,
Russia ,
Ukraine
Over the past few weeks, the US Department of Treasury Office of Foreign Assets Control (OFAC) took various actions in response to Russia’s continued invasion in Ukraine:
..updated the Specially Designated Nationals and...more
8/17/2022
/ Asset Freeze ,
Belarus ,
Belarus Sanctions ,
Blocked Entities ,
Blocked Person ,
Economic Sanctions ,
Entity List ,
Export Controls ,
General Licenses ,
Office of Financial Sanctions Implementation (OFSI) ,
Office of Foreign Assets Control (OFAC) ,
Oil & Gas ,
Russia ,
SDN List ,
Ukraine
Over the past few weeks, the US Department of the Treasury Office of Foreign Assets Control (OFAC) took additional actions in response to Russia’s continued invasion of Ukraine:
..Removed Kazakh subsidiary of Alfa Bank,...more
The US continues to ramp up sanctions pressure on Russia, now emphasizing Russian efforts to evade US export controls and obligations of financial institutions to police Russian efforts at sanctions and export controls...more
7/6/2022
/ Asset Freeze ,
Belarus ,
Belarus Sanctions ,
Bureau of Industry and Security (BIS) ,
Economic Sanctions ,
Entity List ,
EU ,
Export Controls ,
Exports ,
FinCEN ,
Foreign Relations ,
General Licenses ,
Military Conflict ,
Oil & Gas ,
Russia ,
Switzerland ,
Trade Restrictions ,
UK ,
Ukraine
Following the invasion of Ukraine by Russia, the UK, EU and US have all responded by announcing significant sanctions in respect of Russia and Belarus.
This briefing summarises the key developments since 25 April 2022 and...more
Asset Freezes -
On 13 and 14 April 2022, the UK imposed asset freezes with respect to 208 individuals. This included alleged separatists, oligarchs, close associates and employees of oligarchs and individuals who have...more
After reports of humanitarian atrocities and further details of the continued Russian aggression in Ukraine emerged over the weekend, the United States and its allies responded with further sanctions and export controls. “The...more
During the past week, the US continued to strengthen its sanctions against Russia as Russia continued its invasion of Ukraine.
..BIS issued a final rule clarifying which luxury goods are subject to the ban on exports to...more
3/28/2022
/ Asset Freeze ,
Belarus ,
Economic Sanctions ,
EU ,
Export Controls ,
Exports ,
General Licenses ,
Imports ,
Russia ,
Trade Restrictions ,
UK ,
Ukraine
Following the invasion of Ukraine by Russia, the UK, EU and US have all responded by announcing significant sanctions in respect of Russia and Belarus.
The sanctions landscape has been changing at a fast pace and further...more
3/23/2022
/ Asset Freeze ,
Belarus ,
Blocked Entities ,
Blocked Person ,
Economic Sanctions ,
Entity List ,
EU ,
Export Controls ,
Foreign Relations ,
General Licenses ,
Russia ,
SDN List ,
Switzerland ,
UK ,
Ukraine
In the latest action to expand sanctions against Russia in response to its invasion of Ukraine, on March 8, 2022, President Biden announced in a televised speech a ban on imports of Russian oil, natural gas, and coal into the...more
3/11/2022
/ Biden Administration ,
Economic Sanctions ,
Executive Orders ,
Foreign Relations ,
General Licenses ,
Imports ,
Magnitsky Act ,
Office of Foreign Assets Control (OFAC) ,
Oil & Gas ,
Russia ,
Tariffs ,
WTO
In 2019, the US imposed sanctions against China in reaction to “serious human rights abuse against ethnic minorities in Xinjiang...” The sanctions followed reports of mass arbitrary detention and severe physical abuse, among...more
6/16/2021
/ Biden Administration ,
China ,
Economic Sanctions ,
Exports ,
Forced Labor ,
Human Rights ,
Office of Foreign Assets Control (OFAC) ,
Rare Earth Metals ,
SDN List ,
Slavery ,
Solar Panels ,
Supply Chain
While the Biden Administration desires a “stable and predictable” relationship with Russia, it has now made it clear that it will take “actions to impose costs on Russia for actions by its government and intelligence services...more
4/22/2021
/ Biden Administration ,
Blocked Entities ,
Blocked Person ,
Blocking Sanctions ,
Crimea ,
Economic Sanctions ,
Executive Orders ,
Foreign Policy ,
Office of Foreign Assets Control (OFAC) ,
Popular ,
Russia
In the latest of a series of measures targeting China before this week’s transition of administrations, on January 14, 2021, the Trump Administration added China National Offshore Oil Corporation Ltd. (CNOOC) to the US...more
In a parting move to maximize sanctions pressure on China, on December 18, 2020, the Trump Administration added 59 Chinese entities to the United States (US) Commerce Department “Entity List,” imposing comprehensive controls...more
During the recent campaign and the transition, President-elect Donald Trump generally has advocated a more aggressive U.S. international trade and economic policy as part of his plan to generate economic growth and retain and...more