It’s been five months since Russia invaded the Ukraine, and the United States has imposed a succession of increasingly severe economic sanctions on Russia and Belarus. A recent study published by Jeffrey Sonnenfeld, a...more
Some may dismiss OFAC’s recent announcement last week that it issued a Finding of Violation to MidFirst Bank for violations of the Weapons of Mass Destruction Proliferators sanctions regulations as insignificant because OFAC...more
Compliance Professionals: As the Ukraine braces for a possible Russian incursion, are you bracing for the impact of economic sanctions against Russia?...more
1/28/2022
/ Biden Administration ,
Economic Sanctions ,
Embargo ,
Export Administration Regulations (EAR) ,
Export Controls ,
Financial Services Industry ,
Financial Transactions ,
Foreign Direct Product Rule ,
Foreign Policy ,
Foreign Relations ,
ITAR ,
Office of Foreign Assets Control (OFAC) ,
Russia ,
SDN List ,
SWIFT ,
Technology Sector ,
Ukraine ,
US Trade Policies
On June 21, 2019, OFAC changed its requirements for reporting on blocked or rejected transactions under 31 C.F.R. §501.604. With little fanfare, the interim rule published in the Federal Register greatly expands the...more
On June 13, 2019, OFAC announced a settlement with Expedia Group, Inc. for violations of the Cuban Assets Control Regulations (“CACR”). (Available here). Expedia’s foreign subsidiaries assisted more than 2,200 individuals...more
6/17/2019
/ Audits ,
Compliance ,
Corporate Counsel ,
Corporate Monitoring ,
Cuba ,
Cuban Assets Control Regulations (CACR) ,
Economic Sanctions ,
Employee Training ,
Foreign Corporations ,
Foreign Subsidiaries ,
Iran ,
Iran Sanctions ,
ITSR ,
Office of Foreign Assets Control (OFAC) ,
Risk Mitigation