Citing Russia’s “transition to a full war economy,” the United States imposed sweeping new sanctions and export controls on Russia and Belarus today, including companies and individuals that continue to supply Russia’s...more
6/13/2024
/ Belarus ,
Belarus Sanctions ,
Biden Administration ,
Blocking Sanctions ,
Bureau of Industry and Security (BIS) ,
Economic Sanctions ,
Entity List ,
Export Controls ,
Financial Institutions ,
Foreign Policy ,
General Licenses ,
Military Conflict ,
Office of Foreign Assets Control (OFAC) ,
Popular ,
Russia ,
SDN List ,
Software ,
Software Developers ,
Technology Sector ,
Ukraine ,
US State Departments
On April 24, 2024, President Biden signed into law an emergency supplemental appropriations law, H.R. 815 (Public Law 118-50), that provides substantial military aid to Ukraine, Israel, and Taiwan and could force the sale of...more
5/1/2024
/ Appropriations Bill ,
Biden Administration ,
China ,
Economic Sanctions ,
Export Controls ,
Exports ,
Foreign Corrupt Practices Act (FCPA) ,
International Emergency Economic Powers Act (IEEPA) ,
International Harmonization ,
Israel ,
Office of Foreign Assets Control (OFAC) ,
Popular ,
Statute of Limitations ,
Taiwan ,
TWEA ,
Ukraine
The United States imposed a new round of economic sanctions and export restrictions on Russia today, marking the second anniversary of Russia’s invasion of Ukraine and following the death of Russian opposition leader, Alexei...more
2/26/2024
/ Bureau of Industry and Security (BIS) ,
Business Operations ,
Doing Business ,
Economic Sanctions ,
Entity List ,
Export Bans ,
Financial Institutions ,
Investors ,
Office of Foreign Assets Control (OFAC) ,
Regulatory Agenda ,
Russia ,
Technology Sector ,
Ukraine
The U.S. government is turning up the dial on its efforts to combat evasion of export controls and sanctions against Russia. The severe trade restrictions against Russia (and Belarus) have seen continuous escalation since...more
9/26/2023
/ Anti-Money Laundering ,
Belarus ,
Belarus Sanctions ,
Bureau of Industry and Security (BIS) ,
Economic Sanctions ,
EU ,
Export Controls ,
Exports ,
FinCEN ,
Foreign Relations ,
Office of Foreign Assets Control (OFAC) ,
Russia ,
Suspicious Activity Reports (SARs) ,
Trade Restrictions ,
Ukraine
On May 19, 2023, the Biden administration announced another major round of U.S. sanctions and export controls against Russia and Belarus in response to the ongoing war in Ukraine, in coordination with the G7 Leaders’ Summit...more
5/23/2023
/ Belarus ,
Bureau of Industry and Security (BIS) ,
Corporate Counsel ,
Economic Sanctions ,
Executive Orders ,
Export Administration Regulations (EAR) ,
Export Controls ,
FinCEN ,
Foreign Direct Product Rule ,
G7 ,
Office of Foreign Assets Control (OFAC) ,
Russia ,
SDN List ,
Tariffs ,
US Department of State
On February 24, 2023, the U.S. Department of the Treasury Office of Foreign Assets Control (OFAC) and the U.S. Department of Commerce Bureau of Industry and Security (BIS) expanded the scope of trade control measures...more
This alert summarizes the current state of trade measures and restrictions against both Russia and Belarus, following our last update on February 25, 2022....more
3/9/2022
/ Aircraft ,
Belarus ,
Biden Administration ,
Bureau of Industry and Security (BIS) ,
ECCNs ,
Economic Sanctions ,
Entity List ,
Executive Orders ,
Export Administration Regulations (EAR) ,
Export Controls ,
Exports ,
General Licenses ,
Imports ,
Office of Foreign Assets Control (OFAC) ,
Oil & Gas ,
Russia ,
SDN List ,
U.S. Commerce Department
The United States government, in partnership with allies and partners, issued new and expanded sanctions and trade controls in response to Russia’s continued invasion into Ukraine. These measures followed the sanctions that...more
The United States government, in coordination with the UK and EU, has imposed a round of targeted measures in what could be the first of a series of escalations in response to Russia’s recent actions along the Ukraine...more
2/23/2022
/ Economic Sanctions ,
EU ,
Executive Orders ,
Exports ,
Financial Institutions ,
General Licenses ,
Office of Foreign Assets Control (OFAC) ,
Russia ,
SDN List ,
Secondary Markets ,
Sovereign Debt ,
U.S. Treasury ,
UK ,
Ukraine
On October 15, 2021, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) issued tailored sanctions compliance guidance for those operating in the virtual currency industry, including technology...more
10/21/2021
/ Compliance ,
Corporate Counsel ,
Digital Currency ,
Economic Sanctions ,
Financial Services Industry ,
New Guidance ,
Office of Foreign Assets Control (OFAC) ,
Regulatory Oversight ,
Risk Assessment ,
SDN List ,
Strict Liability ,
U.S. Treasury ,
Virtual Currency