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Morrison & Foerster LLP

U.S. Sanctions Enforcement: 2024 Lessons Learned and 2025 Expectations

As the third month of the second Trump administration comes to a close, the lack of any public enforcement action by the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has sanctions watchers...more

Foley Hoag LLP

Adoption by the EU of the 16th Sanctions Package Against Russia: Key Takeaways

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The 16th package of European economic sanctions adopted and published in the Official Journal of the European Union (hereinafter the “EU”) on 24 February 2025 came into force on 25 February 2025. This 16th package of...more

WilmerHale

Recent Developments in UK Sanctions

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After a relatively quiet period, UK sanctions updates have picked up pace in recent weeks. We have seen the announcement of an enhanced partnership between US and UK sanctions agencies, updates to reporting requirements, the...more

Skadden, Arps, Slate, Meagher & Flom LLP

The Sanctions Puzzle: Key Areas To Watch in 2025 and Beyond

The past weeks and months have brought about tremendous political change in the West, as we move toward a new U.S. administration, a new College of Commissioners in Brussels and a new Polish presidency of the Council of the...more

Skadden, Arps, Slate, Meagher & Flom LLP

OFSI Issues First Monetary Penalty for Breach of Sanctions Imposed on Russia in Response to Its Invasion of Ukraine

On 27 September 2024, the UK’s financial sanctions regulator, the Office of Financial Sanctions Implementation (OFSI), announced that it had issued its first monetary penalty for a breach of UK financial sanctions imposed...more

Dorsey & Whitney LLP

Biden Administration Again Expands Sanctions on Russia and Its Third Party Supporters

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As Russia continues its war against Ukraine and Ukraine has itself recently opened a new front by capturing Russian territory in its Kursk region, the United States announced on August 23 its latest tranche of sanctions...more

The Volkov Law Group

State Street’s $7.45MM OFAC Penalty Highlights Importance of Sanctions in M&A Due Diligence

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The U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) has released a $7.45 million penalty against State Street Bank and Trust Company and its non-bank, fintech subsidiary Charles River Systems for...more

Pillsbury - Global Trade & Sanctions Law

EU’s 14th Package of Sanctions on Russia

On 24 June 2024, the EU adopted its 14th package of sanctions against Russia. The latest measures include: The designation of 116 additional individuals and entities across a number of industries for their responsibility in...more

Morrison & Foerster LLP

War Aid and Sanctions: National Security Act Includes Significant New Sanctions Authorities

On April 24, 2024, President Biden signed into law a long-debated $98 billion foreign aid and national security legislative package (the “Act”) providing funds for Israel, Taiwan, and Ukraine, and authorizing new sanctions...more

Morrison & Foerster LLP

U.S. Sanctions Enforcement: 2023 Trends and Lessons Learned

Today’s alert—the second in our Sanctions 2023 Year in Review Series—provides an overview of U.S. sanctions enforcement in 2023, including the key lessons learned from the public enforcement actions issued by the U.S....more

Morrison & Foerster LLP

OFAC Year in Review 2023 – Part 1

2023 was another record year for U.S. sanctions and the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC). Most prominently, OFAC continued to impose significant additional sanctions on Russia in...more

Mayer Brown

UK Government to launch new unit to enforce export controls and trade sanctions

Mayer Brown on

On 11 December 2023, the UK Government announced plans to create the Office of Trade Sanctions Implementation (OTSI), a new governmental body that will be responsible for inter alia the civil enforcement of UK trade...more

Faegre Drinker Biddle & Reath LLP

First Significant UK Sanctions Judgment Handed Down

Background - In response to Russia’s invasion of Ukraine in February 2022 the UK, in parallel with the U.S. and the EU, significantly expanded its sanctions against Russia by imposing wide restrictions on trade, aircraft,...more

A&O Shearman

Russian Countersanctions: New Measures Targeting Foreign Investors in Russia

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Fourteen months into the Ukraine war, the Russian Government has introduced new countersanctions targeting foreign investors in Russia. The latest measures require businesses from “unfriendly” countries to make a “voluntary...more

Morrison & Foerster LLP

U.S. Sanctions Enforcement: 2022 Trends and Lessons Learned

Today’s alert—the third and final installment in our Sanctions 2022 Year in Review series—provides an overview of U.S. sanctions enforcement in 2022, including the key lessons learned from the enforcement actions issued by...more

Holland & Knight LLP

International Trade Compliance Year in Review: 10 Enforcement Lessons from 2022

Holland & Knight LLP on

In the past year, the U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC), the U.S. Department of Commerce's Bureau of Industry and Security (BIS) and the U.S. Department of State's Directorate of...more

Porter Hedges LLP

Update on Russian-Related Sanctions and Export Controls

Porter Hedges LLP on

As the Russian invasion of Ukraine continues, the executive branch is mounting what the U.S. Department of Treasury (“Treasury”) calls a “historically unprecedented campaign of sanctions and export controls” aimed at...more

McDermott Will & Schulte

Eighth EU Sanctions Package: Closing the Loop on More Goods, Services and Russian Oil

McDermott Will & Schulte on

In response to Russia’s further aggression against Ukraine and its illegal annexation of the Donetsk, Kherson, Luhansk and Zaporizhzhia regions (the Occupied Regions), the European Union (EU) has adopted a new sanctions...more

Wiley Rein LLP

Biden Administration Toughens Sanctions, Export Controls in Response to Continued Harmful Activities of the Russian Government

Wiley Rein LLP on

On September 15, 2022, the Biden Administration announced a new package of sanctions and export controls to hold the Russian government accountable for its war against Ukraine. ...more

Husch Blackwell LLP

U.S. Departments of Treasury and State Expand Sanctions To Restrict Russia’s Access to Services and Economics and Combat Evasion...

Husch Blackwell LLP on

On June 28, 2022, the Department of Treasury’s Financial Crimes Enforcement Network (“FinCEN”) and the U.S. Department of Commerce’s Bureau of Industry and Security (“BIS”) issued a Joint Alert urging financial institutions...more

BCLP

International Law Recourse for Potential Expropriation of Foreign Assets by Russia

BCLP on

With the continuing exit and suspension of operation of foreign entities in Russia, Russian State authorities are exploring retaliatory measures, including a regime for the nationalisation and forced sale of foreign assets. ...more

Blake, Cassels & Graydon LLP

Update on Canadian Sanctions and Other Economic Measures Against Russia

Over the past month, the Government of Canada has implemented wide-ranging economic sanctions and other measures targeting Russia in connection with the conflict in Ukraine. We summarized the initial wave of measures in our...more

Orrick, Herrington & Sutcliffe LLP

Employers to the Rescue? Potential Compliance Risks When Helping Male Employees Leave Ukraine

Companies seeking to help their Ukrainian employees safely exit Ukraine should be aware of potential risks related to the Foreign Corrupt Practices Act (FCPA) and other U.S. laws and regulations. Following Russia’s invasion...more

Foley & Lardner LLP

The Power of TRIA if Russia is Named a State Sponsor of Terrorism

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Companies around the world have been scrambling to understand the implications of the sanctions imposed by the United States following Russia’s invasion of Ukraine. Beyond sanctions, the United States has even more legal and...more

Eversheds Sutherland (US) LLP

United States halts work with Russian Patent Office, while Russia lessens foreign intellectual property protections

While the humanitarian crisis has received the most attention during the emerging situation in Ukraine, numerous other facets of the world economy, international relations, and daily life have also been affected. One...more

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