News & Analysis as of

Investment Management Office of Foreign Assets Control (OFAC) Russia

Lowenstein Sandler LLP

OFAC Imposes Largest-Ever Penalty on Nonbank Financial Institution for Egregious and Sustained Sanctions Violations—a $216M...

Lowenstein Sandler LLP on

The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) announced a historic $215,988,868 civil monetary penalty against GVA Capital Ltd. (GVA), a venture-capital firm registered in the Cayman Islands...more

Latham & Watkins LLP

Russia Sanctions Update: OFAC Issues Guidance on “New Investment” and Management Consulting Bans

Latham & Watkins LLP on

OFAC has also extended certain general licenses, while BIS has continued to restrict exports to Russia. This Client Alert is published in the context of ongoing developments and should be read in conjunction with the...more

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