News & Analysis as of

Sanctions International Trade Office of Foreign Assets Control (OFAC)

The Volkov Law Group

Interactive Brokers Settles with OFAC for $11.8 Million for Violations of Multiple Sanctions Programs

The Volkov Law Group on

The U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) announced on July 15, 2025, that Interactive Brokers LLC (“IB”)—a globally active electronic brokerage firm headquartered in Greenwich,...more

The Volkov Law Group

Episode 378 -- Update on Export Controls and Sanctions Enforcement

The Volkov Law Group on

What happens when companies ignore red flags, bypass legal advice, and underestimate the reach of U.S. export laws? In this episode, Michael Volkov unpacks two major enforcement actions from the Department of Commerce’s...more

Foley Hoag LLP

Unpacking the U.S. Sanctions Reversal on Syria: Implications and Future Outlook

Foley Hoag LLP on

Key Takeaways: - Executive Order 14312 revokes the six executive orders that formed the foundation of the Syrian Sanctions Program, terminates the national emergency underlying those executive orders and waives and relaxes...more

Troutman Pepper Locke

M&A and Global Compliance Lessons From OFAC’s Settlement With Key Holding

Troutman Pepper Locke on

On July 2, 2025, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) reached a settlement with Key Holding, LLC (Key Holding) concerning its non-U.S. subsidiary’s violations of the Cuban Assets...more

K2 Integrity

The United States Terminates Countrywide Syria Sanctions and Is Working Towards Lifting Additional Trade Restrictions

K2 Integrity on

Building on prior relief of sanctions and other restrictive trade measures earlier this year (as described in K2 Integrity alerts dated 15 May and 09 June 2025), on 30 June 2025, U.S. President Donald Trump issued a new...more

Holland & Knight LLP

Executive Order Terminates Syria Sanctions, Directs Actions to Remove Other Trade Restrictions

Holland & Knight LLP on

President Donald Trump issued an Executive Order (the EO) on June 30, 2025, terminating the U.S. government's Syria sanctions program and directing other actions that, if finalized, will revoke the vast majority of U.S. trade...more

Mayer Brown

Russia/Ukraine Sanctions Update - Month of June 2025

Mayer Brown on

I. U.S. SANCTIONS - Politico Reports President Trump Will Not Increase Sanctions on Russia to Maintain Peace Talks: On June 25, Politico reported that during an interview with Secretary of State, Marco Rubio, Secretary...more

Bass, Berry & Sims PLC

German Company Pays $14.55 Million to Settle Violations of U.S. Sanctions on Iran

Bass, Berry & Sims PLC on

Key Points: - Long-arm of U.S. sanctions jurisdiction reaches conduct by European company. - Violation involved shipment to Iran from Australia, a close U.S. ally. On December 3, the Treasury Department’s Office of...more

Torres Trade Law, PLLC

Application of the Substantial Transformation Principle in the Context of U.S. Sanctions

Torres Trade Law, PLLC on

The practice of determining an item’s country of origin (“COO”) and utilizing the principal of “substantial transformation” to help make this determination is likely a familiar concept for many U.S. importers in the context...more

Foley Hoag LLP

Developments in U.S. International Trade Laws Since the Start of 2023 and What to Expect for the Rest of 2024

Foley Hoag LLP on

Throughout 2023 and early 2024, we continue to witness deepening geopolitical and economic divides globally. The U.S. and its allies (most significantly the EU and the G7), spurred on by Russia’s war in Ukraine, continue to...more

Bass, Berry & Sims PLC

International Trade Enforcement Roundup – March 2024 Update

You are reading the March 2024 Update of the Bass, Berry & Sims Enforcement Roundup, where we bring notable enforcement actions, policy changes, interesting news articles, and a bit of our insight to your inbox. Overview...more

Bass, Berry & Sims PLC

Swiss Finance Company to Pay Almost $4 Million for Sanctions Violations

Bass, Berry & Sims PLC on

On March 14, the U.S. Treasury Department, Office of Foreign Assets Control (OFAC) announced that EFG International AG (EFG), a Switzerland-based bank, had agreed to pay roughly $3.74 million to settle allegations that it had...more

Sheppard Mullin Richter & Hampton LLP

Treasury Department Seeks to Coordinate Globally on Crypto Regulation

On July 7, 2022, the Treasury Department laid out how it would work with its overseas counterparts and in international forums as the U.S. studies cryptocurrencies to set up a possible regulatory regime. This framework is the...more

Sheppard Mullin Richter & Hampton LLP

U.S., UK and EU Sanctions Over Putin’s Recognition of Breakaway Ukraine Regions

U.S. Comprehensive Sanctions Against the DNR and the LNR - Scope: the DNR and LNR - The new EO does not detail which parts of the Donetsk and Luhansk regions[1] are subject to the new U.S. sanctions. It is likely that...more

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