On May 23, the US Department of the Treasury’s Office of Foreign Assets Control (OFAC) issued Syria General License (GL) 25, “Authorizing Transactions Prohibited by the Syrian Sanctions Regulations or Involving Certain...more
6/3/2025
/ Corporate Counsel ,
Economic Sanctions ,
Executive Orders ,
Export Controls ,
International Trade ,
Office of Foreign Assets Control (OFAC) ,
Publicly-Traded Companies ,
Regulatory Requirements ,
Reporting Requirements ,
Syria ,
U.S. Treasury
The US government signals careful optimism with a new general license authorizing some previously prohibited transactions, including many (but not all) transactions with Syrian governing institutions, for the next six months....more
1/13/2025
/ Bureau of Industry and Security (BIS) ,
Economic Sanctions ,
Export Administration Regulations (EAR) ,
Export Controls ,
Foreign Policy ,
General Licenses ,
Global Terrorism Sanctions Regulations (GTSR) ,
Office of Foreign Assets Control (OFAC) ,
Prohibited Transactions ,
Sanctions ,
SDN List ,
Syria ,
U.S. Treasury
On May 8, 2022 (aka Mother’s Day), the Biden Administration announced yet another series of export controls and sanctions measures intended to ratchet up the costs on Russia’s economy and limit its ability to continue its war...more
5/11/2022
/ Accounting ,
Belarus ,
Blocking Sanctions ,
Bureau of Industry and Security (BIS) ,
Economic Sanctions ,
Executive Orders ,
Foreign Policy ,
General Licenses ,
Office of Foreign Assets Control (OFAC) ,
Russia ,
Trusts ,
U.S. Treasury ,
Ukraine
Watch Out, More Things Are Luxury Than You Think!
On March 11, 2022, the President issued Executive Order 14068 (EO 14068) Prohibiting Certain Imports, Exports, and New Investment with Respect to Continued Russian...more
3/15/2022
/ Belarus ,
Economic Sanctions ,
Energy Sector ,
EU ,
Executive Orders ,
Export Administration Regulations (EAR) ,
Exports ,
Imports ,
Most-Favored Nations ,
Office of Foreign Assets Control (OFAC) ,
Russia ,
SDN List ,
Trade Restrictions ,
U.S. Treasury ,
Ukraine
On February 25 and 28, 2022, the US Treasury Department, Office of Foreign Assets Control (OFAC) issued its fifth and sixth actions against Russia, blocking the assets of President Vladimir Putin and three other high-ranking...more
Responding to the Russian announcement recognizing the independence of the so-called Donetsk People’s Republic (DNR) and Luhansk People’s Republic (LNR) regions of Ukraine, President Biden signed Executive Order 14065 (the...more
In his last days, President Trump takes a swipe against companies identified by the Department of Defense (DoD) as Communist Chinese military companies by prohibiting US persons from investments.
On November 12, 2020,...more
11/18/2020
/ China ,
Department of Defense (DOD) ,
Executive Orders ,
Export Administration Regulations (EAR) ,
Foreign Investment ,
Information and Communication Technology (ICT) ,
International Emergency Economic Powers Act (IEEPA) ,
National Security ,
PCAOB ,
Proposed Rules ,
Securities and Exchange Commission (SEC) ,
Trump Administration ,
U.S. Treasury
The US Government has taken action recently to step up enforcement against forced labor.
As particular regions come under increased media scrutiny, the issue has renewed interest in Congress, which is considering several...more
10/26/2020
/ Child Labor ,
China ,
Customs and Border Protection ,
Department of Homeland Security (DHS) ,
Economic Sanctions ,
Forced Labor ,
International Emergency Economic Powers Act (IEEPA) ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act ,
Supply Chain ,
Tariff Act of 1930 ,
U.S. Treasury ,
US Department of State ,
Withhold Release Orders (WROs)
There is a risk that garments made from cotton produced by XPCC could be subject to a Customs and Border Protection withhold release orders.
Fashion and luxury goods companies need to be concerned about the recent...more
8/26/2020
/ China ,
Customs and Border Protection ,
Economic Sanctions ,
Entity List ,
Exports ,
Forced Labor ,
Imports ,
Retailers ,
Supply Chain ,
U.S. Commerce Department ,
U.S. Treasury
President Trump signed an Executive Order (EO) (TikTok EO) August 6, 2020, banning “transactions” yet to be identified by the US Department of Commerce (Commerce) related to TikTok and its parent ByteDance Ltd.
Specifically,...more
8/12/2020
/ CFIUS ,
China ,
Data Collection ,
Executive Orders ,
Foreign Policy ,
International Emergency Economic Powers Act (IEEPA) ,
National Security ,
Office of Foreign Assets Control (OFAC) ,
Social Media ,
TikTok ,
U.S. Commerce Department ,
U.S. Treasury
As the US technology competition with China continues to intensify, the Trump Administration has taken another step to tighten the screws on China.
In late June, the US Department of Defense (DoD) made public a list of 20...more
8/3/2020
/ China ,
Department of Defense (DOD) ,
Department of Justice (DOJ) ,
Due Diligence ,
Exports ,
FBI ,
Imports ,
International Emergency Economic Powers Act (IEEPA) ,
NDAA ,
Pentagon ,
Trump Administration ,
U.S. Treasury
On October 23, the President asked the Department of the Treasury to lift previously imposed sanctions against Turkey following the cessation of Turkey’s offensive in Syria and the implementation of a lasting ceasefire....more