On December 22, 2023, President Biden ordered new U.S. sanctions against Russia by issuing Executive Order (“EO”) 14114 (“Taking Additional Steps with Respect to the Russian Federation’s Harmful Activities”). EO 14114 amends...more
On December 20, 2023, the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) issued General Licenses (“GL”) 81 and GL 82 under the Russian Harmful Foreign Activities Sanctions Regulations, 31 CFR...more
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 5, 2023, the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) added several persons to the List of Specially Designated Nationals and Blocked Persons (“SDNs”) and issued General...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 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
On October 25, 2023, the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) published General Licenses (“GL”) 8H related to the Russian Harmful Foreign Activities Sanctions Regulations, 31 CFR Part...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 August 8, 2023, the Department of the Treasury's Office of Foreign Assets Control (OFAC) issued General License 13F Authorizing Certain Administrative Transactions Prohibited by Directive 4 under Executive Order 14024...more
On August 9, 2023, the Department of the Treasury's Office of Foreign Assets Control (OFAC) issued Belarus General License 8 "Authorizing the Wind Down of Transactions Involving Joint Stock Company Byelorussian Steel Works...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 July 10, 2023, the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) issued General License (“GL”) 40B pursuant to the Venezuela Sanctions Regulations, 31 CFR Part 591 (“VSR”)....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
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 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 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