News & Analysis as of

Trump Administration SDN List Russia

Troutman Pepper Locke

Financial Transactions Related to Russian Energy Now Prohibited: Expiration of OFAC ‎General License 8L

Troutman Pepper Locke on

On March 12, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) allowed General License (GL) 8L under the Russian Harmful Foreign Activities Sanctions Regulations to expire. As a result, broad OFAC...more

Husch Blackwell LLP

International Trade Law: 2024 Year in Review & Outlook for 2025

Husch Blackwell LLP on

Few areas will be as impacted by the incoming second Trump administration as international trade policy. Check out our team’s assessment of what the coming year may bring for trade regulation and enforcement. Husch...more

BakerHostetler

Weekly Blockchain Blog - December 2024

BakerHostetler on

New Crypto Products Announced by Financial Services Firms, Exchanges, DEXs - A major U.S. cryptocurrency exchange recently announced that it has integrated a major mobile payments application into its Onramp tool to enable...more

Morrison & Foerster LLP

OFAC 2020 Year In Review

In too many ways to count, 2020 was an extraordinary year. As we move into 2021 with optimism for an end to the pandemic and better days ahead, we understand that the activity last year of the U.S. Department of the...more

BCLP

U.S. Enacts Additional Measures Targeting China

BCLP on

Over the course of this year, the U.S. government has enacted a number of new regulatory changes, including changes aimed at addressing national security concerns related to countries of interest, including China, Russia, and...more

Morrison & Foerster LLP

Sanctions Spree: New Round Of Sanctions Against China And Russia

Amid the COVID-19 pandemic and Black Lives Matter demonstrations, the U.S. Congress has stepped up its election year efforts by threatening heightened sanctions on China and Russia. The latest such bill, the Hong Kong...more

Akin Gump Strauss Hauer & Feld LLP

OFAC Removes Sanctions on Turkish Ministries and Ministers; U.S. Executive Order Providing a Basis for Sanctions on Turkey Remains...

• On October 23, 2019, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) removed the two Turkish government ministries and three ministers that it added to its Specially Designated Nationals and...more

A&O Shearman

Sanctions Round Up: First Quarter 2019

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In this quarter, OFAC lifted sanctions on Rusal and other companies following divestment by Oleg Deripaska. Meanwhile, as Venezuela descends into economic and political crisis, the US targeted PdVSA and others to hasten...more

Akin Gump Strauss Hauer & Feld LLP

Recent U.S. Sanctions Designations Create Additional Risks for Companies Doing Business with Venezuela

• OFAC recently added a Moscow-based Russian-Venezuelan joint venture bank, Evrofinance Mosnarbank (“Evrofinance”), to the List of Specially Designated Nationals and Blocked Persons (the “SDN List”) for engaging in sanctions...more

White & Case LLP

OFAC Delists En+ Group, Rusal, and EuroSibEnergo

White & Case LLP on

On January 27, 2019, the US Department of the Treasury's Office of Foreign Assets Control (OFAC) lifted sanctions imposed on En+ Group plc (En+), UC Rusal plc (Rusal), and JSC EuroSibEnergo (ESE), removing these entities from...more

Morgan Lewis

US Persons Must Report Transactions Involving Three Previously Sanctioned Russian Entities by February 11

Morgan Lewis on

US persons who have engaged in wind-down or maintenance transactions with EN+ Group, UC Rusal, or JSC EuroSibEnergo (or entities they own or control) pursuant to General License 14E or 16E must report those transactions to...more

Skadden, Arps, Slate, Meagher & Flom LLP

Skadden's 2019 Insights: Key Developments in US Sanctions

In 2018, the United States continued to expand its sanctions programs and increase enforcement. While President Donald Trump’s decision to re-impose nuclear-related sanctions on Iran has perhaps drawn the most attention, key...more

A&O Shearman

Sanctions Round Up: Fourth Quarter 2018

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Closing out 2018, OFAC announced its plan to lift sanctions against United Co. Rusal and others, despite bi-partisan opposition from Congress. Simultaneously, OFAC continued to target Russia’s defense and intelligence sectors...more

Sheppard Mullin Richter & Hampton LLP

New Year Sanctions Roundup: Where Do We Stand?

Happy new year everyone. The government is shut down, but there has already been a flurry of activity in 2019 on the economic sanctions and embargoes front. Here is a summary of where we stand on various sanctions regimes....more

Eversheds Sutherland (US) LLP

OFAC intends to terminate sanctions on Russian aluminum giant RUSAL

On December 19, 2018, the US Department of the Treasury notified Congress of its intention to terminate sanctions imposed on En+ Group plc (En+), as well as its subsidiaries, United Company RUSAL (Rusal) and JSC EuroSibEnergo...more

Baker Donelson

U.S. Economic Sanctions Update: Iran Nuclear Sanctions Re-Imposed; Russia Chemical Weapons Sanctions Timeline Unclear

Baker Donelson on

November 2018 is a critical month for U.S. economic sanctions programs targeting both Iran and Russia. The U.S. Treasury Department's Office of Foreign Assets Control (OFAC) formally implemented and re-imposed its Iran...more

Bass, Berry & Sims PLC

Update on Russia: Restrictions Expanded to New Actors, Industries

Bass, Berry & Sims PLC on

• Economic sanctions and export restrictions extended • Russian investment in United States likely subject to heightened scrutiny • Diligence on Russia transactions and business partners is essential to ensure...more

Husch Blackwell LLP

OFAC Extends Authorization Period For Licensed Transactions With Certain Russian SDNs

Husch Blackwell LLP on

As previously covered on April 6, 2018, the U.S. Department of Treasury’s Office of Foreign Assets Control (“OFAC”) invoked authority provided under the Countering America’s Adversaries Through Sanctions Act (“CAATSA”) in...more

Akin Gump Strauss Hauer & Feld LLP

Trump Administration Sanctions Chinese Entity and its Director in First Imposition of Secondary Sanctions under Section 231 of...

• On September 20, 2018, for the first time, the Trump administration imposed sanctions on a non-U.S. entity and its director for engaging in “significant transactions” with a Russian defense sector company included on the...more

Husch Blackwell LLP

Trump Administration Issues New CAATSA Executive Order, Adds 33 Persons To LSP List And Sanctions Chinese Defense Buyer

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On September 20, 2018, President Trump released a 16-page Executive Order which delegated various Presidential powers established under the Countering America’s Adversaries Through Sanctions Act (“CAATSA”) to both the U.S....more

Orrick, Herrington & Sutcliffe LLP

Further Update – Russian Counter-Sanctions Measures and New U.S. Sanctions Against Russia

In response to the latest U.S. economic sanctions, Russia adopted a law that gives the Russian President a broad authorization to retaliate for foreign sanctions. However, while this law makes a political statement, it does...more

Miller Canfield

Busy Season for U.S. Sanction Programs

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The U.S. recently announced some important updates related to U.S. sanctions affecting Iran and Russia: Iran. On May 8, 2018, President Donald Trump announced his decision to cease U.S. participation in the Joint...more

Akin Gump Strauss Hauer & Feld LLP

OFAC Issues General License 15 Expanding and Extending Authorized Activities with GAZ Group Until October 23, 2018

• On May 22, 2018, OFAC issued General License 15, authorizing U.S. persons to engage in specified transactions related to maintenance or wind-down of operations, contracts or other agreements involving GAZ Group or any...more

The Volkov Law Group

Update on Russia Trade Sanctions

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The Trump Administration Treasury Department’s Office of Foreign Asset Control activity has been interesting to watch. On the one hand, OFAC has been implementing aggressive sanctions against Russia in reaction to Russia’s...more

Akin Gump Strauss Hauer & Feld LLP

OFAC Issues Updated General Licenses Clarifying and Extending Authorized Activities with Russian Sanctioned Entities

• On May 1, 2018, OFAC issued General License 13A authorizing the divestment or transfer of certain debt, equity or other holdings issued by EN+ Group, GAZ Group or United Company RUSAL PLC, as well as entities in which such...more

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