On December 12, 2023, the Department of the Treasury's Office of Foreign Assets Control (“OFAC”) and the U.S. Department of State (“DOS”) sanctioned more than 250 individuals and entities by adding them to the List of...more
On December 1, 2023, the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) issued General Licenses (“GL”) 78 which authorizes limited safety and environmental transactions involving certain...more
On November 16, 2023, the U.S. Department of the Treasury’s Office of Foreign Assets (“OFAC”) amended General License (“GL”) 8M and 45A, and issued four new FAQs (FAQ 1141-1144) related to Venezuela Sanctions Regulations, 31...more
On September 26, 2023, in response to the escalating crisis in Ukraine resulting from Russian aggression, Australia, Canada, New Zealand, the United Kingdom, and the United States (the “Export Enforcement Five” or “E5”)...more
On November 9, 2023, the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) issued General License (“GL”) 76A to clarify that the GL applies to “Public Joint Stock Company Saint Petersburg...more
On November 2, 2023, the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) published General License (“GL”) 13G, GL 74, GL 75, and GL 76 related to the Russian Harmful Foreign Activities Sanctions...more
On October 12, 2023, U.S. Department of the Treasury’s Office of Foreign Asset Control (“OFAC”) issued General License (“GL”) 73 authorizing limited safety and environmental transactions involving certain persons and vessels...more
In light of the recent agreement on an electoral roadmap between Venezuela’s Maduro regime and the Unitary Platform, and as a show of support for the Venezuelan people, the U.S. Department of the Treasury’s Office of Foreign...more
On September 14, 2023, the U.S. Department of the Treasury’s Office of Foreign Asset Control (“OFAC”) issued two Russia–related general licenses...more
On July 20, 2023 the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) added nearly 120 individuals, entities, and vessels to the Specially Designated Nationals (“SDN”) List pursuant to Executive...more
On July 19, 2023, the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) issued General License (“GL”) 5L pursuant to the Venezuela Sanctions Regulations, 31 CFR Part 591 (“VSR”) which further delays...more
On June 28, 2023, the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) and the UK’s Office of Financial Sanctions Implementation of His Majesty’s Treasury (“OFSI”), released a joint fact sheet on...more
On May 19, 2023, the U.S. Department of Commerce Bureau of Industry and Security (“BIS”) issued additional export control restrictions aimed at further degrading the Russian Federation’s capacity to wage its aggression...more
In conjunction with the G7 Summit in Japan, the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) introduced additional economic sanctions on May 19, 2023, with the aim of further limiting the...more
On May 5, 2023, the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) published General Licenses (“GL”) 8G related to the Russian Harmful Foreign Activities Sanctions Regulations, 31 CFR Part 587...more
On May 1, 2023, the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) issued a new General License (“GL”) 42, issued three new FAQs (FAQ 1123, FAQ 1124, and FAQ 1125), and amended existing FAQ 808...more
On April 19, 2023, the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) issued Venezuela-related General License (“GL”) 5K and amended FAQ 595....more
On December 7, 2022, the United States, along with the EU and other G7 nations, imposed a price cap of $60 per barrel on crude oil of Russian Federation origin (“Russian oil”), effective December 5, 2022 (see our related...more
On April 12, 2023, the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) published four new General Licenses (“GL”) (GL 62, GL 63, GL 64, and GL 65), revoked GL 15, and issued FAQ 1122 related to the...more
4/18/2023
/ Blocked Person ,
Bureau of Industry and Security (BIS) ,
Economic Sanctions ,
Export Administration Regulations (EAR) ,
Export Controls ,
Foreign Policy ,
Foreign Relations ,
General Licenses ,
Office of Foreign Assets Control (OFAC) ,
Russia ,
SDN List
Russian “Exit Tax”. As of December 2022, the Russian Federation imposed new laws that could require U.S. persons to pay an “exit tax” prior to divesting assets located in the Russian Federation; any such payment could...more
On February 27, 2022, the U.S. Department of Commerce’s Bureau of Industry and Security (“BIS”) issued a final rule (the “Iran Final Rule”) imposing new export control measures against Iran caused by to its support of Russian...more
On February 24, 2022, the U.S. Department of Commerce’s Bureau of Industry and Security (“BIS”) issued a series of new export controls related to restrictions on trade with Russia and Belarus. The Russia / Belarus final rule...more
On February 24, 2023, the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) released a new determination targeting the metals and mining sector of the Russian Federation economy under Executive Order...more
Following U.S. tracking of the People’s Republic of China’s high-altitude balloon over U.S. airspace, the U.S. Commerce Department’s Bureau of Industry and Security (“BIS”) identified and designated six entities from the...more
On February 8, 2023, the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) published FAQ 1113 related to the Russian Harmful Foreign Activities Sanctions Regulations, 31 CFR Part 587 (the...more