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Economic Sanctions United Arab Emirates (UAE)

Stankie Law

OFAC Fines Harman International $1.4 Million for Iran Sanctions Violations

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On July 8, 2025, the United States Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) announced a settlement with Harman International Industries, Inc. (“Harman”) for $1,454,145 to settle potential civil...more

BakerHostetler

Weekly Blockchain Blog - December 2024 #3

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Digital Asset Companies Achieve Licenses, Launch Stablecoin Products - According to a recent press release, Anchorage Digital, a digital asset platform and infrastructure provider, announced that the New York State...more

The Volkov Law Group

American Life Insurance Company Settles with OFAC for $178,421 Related to Apparent Violations of Iranian Transactions and...

The Volkov Law Group on

The U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) recently settled with American Life Insurance Company (“ALICO”), a Delaware-based subsidiary of MetLife, Inc., for $178,421, addressing apparent...more

Akin Gump Strauss Hauer & Feld LLP

Extraterritorial Application of EU Sanctions Targeting Russia?

On 22 November 2024, the European Commission (the “Commission”) issued new frequently asked questions (FAQs) regarding the interpretation of the “Best Efforts” obligation in Article 8a of Council Regulation (EU) No. 833/2014...more

Lowenstein Sandler LLP

Trade Matters - Lowenstein Sandler's Global Trade & National Security Newsletter - February 14, 2024

Lowenstein Sandler LLP on

Teradyne, a Massachusetts-based supplier of semiconductor testing equipment, has reportedly pulled $1 billion of manufacturing equipment out of China in 2023 following export controls on advanced computing materials and...more

Seward & Kissel LLP

OFAC Sanctions UAE-Based Shipping Company and Eighteen of its Vessels in Connection with Violations of the Russian Price Cap...

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On January 18, 2024, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) announced the imposition of sanctions against a United Arab Emirates-based shipping company, Hennesea Holdings Limited (“Hennesea”)...more

Troutman Pepper Locke

Oil Price Cap Violations & New OFAC ‎GL for Crew Health and Safety and Safety of Blocked ‎Vessels

Troutman Pepper Locke on

On November 16, 2023, the U.S. Department of the Treasury’s Office of Foreign Asset Control (“OFAC”) sanctioned three UAE-based entities and blocked three vessels that engaged Price Cap Coalition service providers to...more

The Volkov Law Group

Murad Pays OFAC $3.3 Million for Iran Sanctions Violations; Former Senior Executive Pays $175k

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Over an eight-year period ending in 2018, Murad, a U.S. cosmetics company, illegally exported goods and services to Iran in 62 separate transactions worth approximately $11 million.  Murad was acquired by Unilever United...more

Ankura

How would a revived US-Iran nuclear deal change the sanctions landscape?

Ankura on

Talks between the U.S. and Iran to revitalize the nuclear deal may have stalled but they are far from dead. There is still optimism that the agreement to limit Iran’s ability to make weapons-grade uranium, in return for a...more

Society of Corporate Compliance and Ethics...

[Virtual Event] Global Compliance Updates - November 2nd - 3rd, 5:55 pm - 8:15 pm GST

Compliance teams looking to stay ahead of the changing landscape need to be up to date on the latest developments. Join us for Global Compliance Updates in collaboration with the DIFC Academy, on 2–3 November 2021. This...more

Akin Gump Strauss Hauer & Feld LLP

New Requirements for UAE Companies Under Updated Targeted Financial Sanctions Guidance

Through updated guidance, the UAE has introduced a significant change to how it administers sanctions regimes—expanding its focus from a limited implementation of multilateral sanctions to more broadly imposing its own...more

Morgan Lewis

Overview of the UAE’s Export Control Regime

Morgan Lewis on

This LawFlash provides a timely overview of the UAE’s export control regime as domestic defence-industrial manufacturing capabilities continue to mature, and the UAE pursues new defence export opportunities....more

The Volkov Law Group

DOJ and OFAC Settle with UAE Company for $665,112 for Violations of North Korea Sanctions

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The Justice Department and OFAC announced a settlement with Essentra FZE Company Limited (“Essentra FZE”), a cigarette filter and tear tape manufacturer, for violation of the North Korea Sanctions Program.  The violations...more

Spilman Thomas & Battle, PLLC

Currents - Energy Industry Insights - May 2020

Industry Expert Insights - We reached out to one of our Lex Mundi partners and a well-known expert in the United Arab Emirates in the energy and legal industries to get his thoughts on the current energy climate. ...more

The Volkov Law Group

Apollo Aviation Group Pays $210k to OFAC for Violations of Sudanese Sanctions Program

The Volkov Law Group on

Apollo Aviation Group, now Carlyle Aviation Partners, agreed to pay OFAC $210,600 for 12 violations of the Sudanese Sanctions Program.  Carlyle acquired Apollo in December 2018, and Carlyle was not involved in the...more

Holland & Hart LLP

OFAC: Sanctions Compliance Provisions in Lease Agreements Alone May Be Insufficient

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On November 7, 2019, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) announced in an Enforcement Information that Apollo Aviation Group, LLC (Apollo), a Florida-based commercial aviation...more

Ballard Spahr LLP

DOJ Charges Turkish State-Owned Halkbank With Money Laundering, Fraud, and Iran-Related Sanctions Offenses

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Indictment Alleges that Bank and its Officers Used Front Companies to Evade Prohibitions on Iran’s Access to the U.S. Financial System - The U.S. Attorney for the Southern District of New York has charged Turkish state-owned...more

Spilman Thomas & Battle, PLLC

Currents - Energy Industry Insights - February 2018 #2

Oil World Turns Upside Down as U.S. Sells Oil in Middle East - "Yet, in a trade that illustrates how the rise of the American shale industry is upending energy markets across the globe, the U.A.E. bought oil directly from...more

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