On April 24, 2024, President Joe Biden signed the 21st Century Peace Through Strength Act (Act) into law. The Act, which is part of a broader law providing supplemental aid to Israel, Taiwan and Ukraine, contains several...more
6/3/2024
/ Anti-Money Laundering ,
Biden Administration ,
CFIUS ,
Economic Sanctions ,
EU ,
International Emergency Economic Powers Act (IEEPA) ,
International Trade ,
Office of Foreign Assets Control (OFAC) ,
Russia ,
Statute of Limitations ,
TWEA ,
UK
On October 18, 2023, following the signing of an electoral roadmap between Venezuela’s Unitary Platform and representatives of the Maduro regime, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC)...more
On December 5, 2022, the price cap on Russian crude oil that was announced by the G-7 finance ministers in September 2022 went into effect at a level of $60 per barrel. The price cap is implemented by prohibiting the...more
Since the publication of our March 24, 2022, and March 17, 2022, client alerts, the U.S., U.K. and European Union, among other allied nations, have imposed additional sanctions and export controls on key elements of the...more
5/2/2022
/ Blocking Sanctions ,
Economic Sanctions ,
EU ,
European Commission ,
Export Controls ,
Exports ,
Financial Institutions ,
Foreign Policy ,
Foreign Relations ,
General Licenses ,
Office of Foreign Assets Control (OFAC) ,
Popular ,
Russia ,
UK
On March 11, 2022, President Joe Biden signed Executive Order 14068 (E.O. 14068) imposing new restrictions on imports and exports with respect to Russia as well as on the supply of U.S. dollar-denominated banknotes to the...more
3/22/2022
/ Bank Notes ,
Banks ,
Biden Administration ,
Economic Sanctions ,
Executive Orders ,
Export Controls ,
Exports ,
Financial Institutions ,
Luxury Goods ,
Office of Foreign Assets Control (OFAC) ,
Russia ,
Ukraine
In 2018, the United States continued to expand its sanctions programs and increase enforcement. While President Donald Trump’s decision to re-impose nuclear-related sanctions on Iran has perhaps drawn the most attention, key...more
1/23/2019
/ Blocked Entities ,
Blocked Person ,
Cryptocurrency ,
Cuba ,
Economic Sanctions ,
Executive Orders ,
Foreign Policy ,
General Licenses ,
Iran ,
Iran Sanctions ,
Joint Comprehensive Plan of Action (JCPOA) ,
Nicaragua ,
Nuclear Power ,
Office of Foreign Assets Control (OFAC) ,
Russia ,
Sanction Violations ,
SDN List ,
Secondary Sanctions ,
Trump Administration ,
Venezuela ,
Withdrawal
On May 8, 2018, President Donald Trump announced that the United States was withdrawing from its participation in the Joint Comprehensive Plan of Action (JCPOA), the agreement the P5+1 (the United States, China, France,...more
5/15/2018
/ Economic Sanctions ,
EU ,
General Licenses ,
Iran Sanctions ,
Joint Comprehensive Plan of Action (JCPOA) ,
New Guidance ,
Office of Foreign Assets Control (OFAC) ,
Oil & Gas ,
Presidential Memorandum ,
Rescission ,
SDN List ,
Secondary Sanctions ,
Trump Administration ,
Winding Down
On August 25, 2017, the U.S. government dramatically increased sanctions on the government of Venezuela. Unlike the Venezuela-related sanctions already in effect, which are list-based and to date have targeted only specific...more
8/31/2017
/ Blocked Person ,
Bonds ,
Capital Markets ,
Citgo ,
Debt-Equity ,
Dividends ,
Economic Sanctions ,
Executive Orders ,
General Licenses ,
Office of Foreign Assets Control (OFAC) ,
SDN List ,
Securities Transactions ,
State-Owned Enterprises ,
Trump Administration ,
Venezuela
After nearly two decades, the United States has formally ended economic sanctions on Burma (Myanmar). Citing substantial efforts undertaken to promote democracy, President Barack Obama issued an executive order, on October 7,...more
10/15/2016
/ Anti-Money Laundering ,
Barack Obama ,
Burma ,
Economic Sanctions ,
Executive Orders ,
Financial Transactions ,
FinCEN ,
Foreign Investment ,
Imports ,
Office of Foreign Assets Control (OFAC) ,
Patriot Act ,
SDN List ,
US Department of State
In response to Burma’s peaceful and competitive elections in November 2015, on May 18, 2016, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) further eased U.S. sanctions against Burma (Myanmar). These...more
5/24/2016
/ Burma ,
Economic Sanctions ,
Exports ,
Financial Institutions ,
Foreign Investment ,
General Licenses ,
Myanmar ,
Office of Foreign Assets Control (OFAC) ,
Popular ,
SDN List ,
State-Owned Enterprises
On January 27, 2016, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) and the Department of Commerce’s Bureau of Industry and Security (BIS) further eased U.S. sanctions and export control regulations...more
While economic sanctions against Iran, Russia and Cuba have dominated the headlines over the past year, sanctions remain a dynamic component of U.S. foreign policy on other fronts. In 2015, President Barack Obama issued three...more
1/23/2016
/ Burundi ,
Cross-Border Transactions ,
Cuba ,
Cyber Attacks ,
Economic Sanctions ,
Executive Orders ,
Foreign Financial Institutions (FFI) ,
Foreign Policy ,
Human Rights ,
Iran Sanctions ,
Obama Administration ,
Russia ,
Venezuela