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Office of Foreign Assets Control (OFAC) Foreign Trade Regulations Financial Institutions

Guidepost Solutions LLC

Mexican Cartels as Foreign Terrorist Organizations: A New Era of Risk for Global Businesses

On January 20, 2025, President Trump issued an executive order titled “Designating Cartels and Other Organizations as Foreign Terrorist Organizations and Specially Designated Global Terrorists.” This directive instructs the...more

Paul Hastings LLP

Implications for Mexican Banks and Financial Institutions of President Trump’s Designation of Drug Cartels as Foreign Terrorist...

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On his first day in office, President Donald Trump signed an executive order that initiates the process of designating certain drug cartels as foreign terrorist organizations. The executive order is primarily focused on...more

The Volkov Law Group

OFAC Imposes $860,000 Penalty on Vietnamese Beverage Company for Violations of North Korean Sanctions

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North Korea Sanctions Violations - In a recent enforcement action, the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) imposed an $860,000 penalty on Vietnam Beverage Company Limited (“VBCL”), a...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

Foley Hoag LLP

Russia Sanctions Update - July 27, 2023

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On July 20, 2023, the Department of Treasury’s Office of Foreign Asset Control (“OFAC”) designated additional entities in order to further disrupt Russian access to military supplies and deprive the Russian government of...more

The Volkov Law Group

United States Announces Sweeping New Sanctions Against Russia

The Volkov Law Group on

On February 24, 2023—the first anniversary of the Russian Federation’s Ukraine incursion—the United States Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) and the Department of Commerce’s Bureau of...more

Akerman LLP

Financial Sanctions and Export Controls Continue after Russian Invasion of Ukraine – More to come

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The United States government continues to impose significant economic sanctions and export control measures following Russia’s invasion of Ukraine. On February 24, 2022, the U.S. Commerce Department’s Bureau of Industry and...more

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