News & Analysis as of

Ukraine Office of Foreign Assets Control (OFAC) Financial Services Industry

King & Spalding

Recent OFAC and DOJ Activity Signals Potential New Era of Control-Based Sanctions Enforcement

King & Spalding on

U.S. sanctions enforcement is evolving to adopt a “control” analysis similar to the analysis employed by the European Union and United Kingdom based on a recent major enforcement action by the U.S. Department of the...more

BakerHostetler

Current State of U.S. Economic Sanctions Imposed in Response to Russia’s Invasion of Ukraine - January 29, 2025

BakerHostetler on

In its continuing response to Russia’s ongoing invasion of Ukraine, the U.S. government has deployed a whole-of-government approach to impose sanctions and tighter export controls on Russia and Belarus. This alert summarizes...more

The Volkov Law Group

State Street’s $7.45MM OFAC Penalty Highlights Importance of Sanctions in M&A Due Diligence

The Volkov Law Group on

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

Seward & Kissel LLP

Compliance Flash: OFAC Announces New Reporting Requirement for Financial Institutions Under the REPO for Ukrainians Act

Seward & Kissel LLP on

The supplemental appropriations legislation signed into law on April 24, 2024 enacted numerous high-profile provisions addressing aspects of U.S. foreign policy and national security, including provisions that broaden and...more

BakerHostetler

Current State of U.S. Economic Sanctions Imposed in Response to Russia’s Invasion of Ukraine - March 2024 #2

BakerHostetler on

In response to Russia’s invasion of Ukraine, the U.S. government has deployed a whole-of-government approach to impose sanctions and tighter export controls on Russia. This alert summarizes key economic sanctions imposed by...more

Ballard Spahr LLP

The American Front in Russia’s War on Ukraine: DOJ’s “Task Force KleptoCapture” Continues Focus on Operations of Sanctioned...

Ballard Spahr LLP on

We previously have blogged on actions taken by the DOJ’s “Task Force KleptoCapture,” an interagency law enforcement task force with a mandate to target sanctioned Russian and pro-Russian oligarchs. While explicitly launched...more

BakerHostetler

Current State of U.S. Economic Sanctions Imposed on the Russian Federation and Covered Regions of Ukraine in Response to the...

BakerHostetler on

In response to Russia’s invasion of Ukraine, the U.S. government has deployed a whole-of-government approach to impose sanctions and tighter export controls on Russia. This alert summarizes key economic sanctions imposed by...more

Foley Hoag LLP

Russia Sanctions Update – May 2023

Foley Hoag LLP on

On May 19, 2023, the United States along with other members of the G7 and other allied countries imposed additional sanctions and export controls meant to further restrict Russian economic activity and degrade Russia’s...more

Cadwalader, Wickersham & Taft LLP

Tri-Seal Compliance Note Warns of Sanctions Evasion

On March 2, the Department of Commerce, Department of Justice, and Department of the Treasury issued a Tri-Seal Compliance Note warning companies to be vigilant for Russia-related sanctions evasion. The Note sets forth a...more

Orrick, Herrington & Sutcliffe LLP

Agencies flag intermediaries in evading Russia-related sanctions

On March 2, the DOJ, the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC), and the Department of Commerce’s Bureau of Industry and Security (BIS) issued a joint compliance note on the use of third-party...more

Orrick, Herrington & Sutcliffe LLP

OFAC issues more Russian sanctions and metals and mining determination

On February 24, the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) announced significant measures targeting the metals and mining sector of the Russian Federation economy under Executive Order 14024....more

Orrick, Herrington & Sutcliffe LLP

Treasury roundtable examines effectiveness of Russian sanctions and export controls

On February 10, Deputy Secretary of the Treasury Wally Adeyemo convened a roundtable to hear from sanctions and U.S. foreign policy experts on the effectiveness of the unprecedented sanctions and export controls imposed on...more

Orrick, Herrington & Sutcliffe LLP

OFAC offers more guidance on price caps for Russian petroleum

On February 3, the U.S. Treasury Department’s Office of Foreign Assets Control published additional guidance on the implementation of the price cap policy for crude oil and petroleum products of Russian Federation origin. ...more

Orrick, Herrington & Sutcliffe LLP

OFAC sanctions evasion network supporting Russia’s military-industrial complex

On February 1, the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) announced it is imposing “full blocking sanctions against 22 individuals and entities across multiple countries related to a sanctions...more

Orrick, Herrington & Sutcliffe LLP

OFAC sanctions Russians individuals and entities

On January 26, the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) announced sanctions against six individuals and 12 entities connected to the Russian Federation. ...more

Orrick, Herrington & Sutcliffe LLP

OFAC sanctions suppliers of Iranian UAVs used in Russia’s war against Ukraine

On January 6, the U.S. Treasury Department’s Office of Foreign Assets Control announced sanctions pursuant to Executive Order 13382 against six executives and board members of a U.S.-designated Iranian defense manufacturer...more

Bass, Berry & Sims PLC

Russia, Ukraine: Update as of Friday, December 30

The Bass, Berry & Sims international trade team continues to monitor U.S. government action in response to Russia’s invasion of Ukraine. In the final months of 2022, the U.S. government added multiple individuals and entities...more

Williams Mullen

OFAC Prohibits Providing Accounting, Trust/Corporate Formation and Management Consulting Services for Russian Parties

Williams Mullen on

​​​​​​​On May 8, 2022 the Office of Foreign Assets Control (OFAC) announced that the performance of accounting, trust and corporate formation and management consulting services for persons located in the Russian Federation...more

Dorsey & Whitney LLP

U.S. Treasury Department Clarifies Previous Prohibitions on New Investments in Russian Equities & on Export of Trust, Accounting &...

Dorsey & Whitney LLP on

On June 6, 2022, the Office of Foreign Assets Control (“OFAC”) within the U.S. Department of the Treasury announced new Frequently Answered Questions (“FAQs”) that interpret several previous Executive Orders (“EOs”) issued by...more

Kelley Drye & Warren LLP

Summary of Sanctions Imposed on Russia This Week (March 11, 2022)

It has been almost three weeks since the U.S. and its allies began imposing serious new sanctions and export control restrictions on Russia and Belarus in response to Russia’s invasion of Ukraine. This post summarizes the...more

Nelson Mullins Riley & Scarborough LLP

Banks and FinTechs Beware: Here Come the Sanctions - What We Can Learn from Previous OFAC Actions Involving FinTech Companies

With Russia’s invasion of Ukraine last week, we saw a swift response by the U.S. beginning with President Biden’s Executive Order 14024 (“The EO”) and followed quickly by the Office of Foreign Assets Control’s (“OFAC”) severe...more

Orrick, Herrington & Sutcliffe LLP

“First Tranche” of New Russia-Related Sanctions: Key Points

In response to the Russian government’s recognition of the Donetsk and Luhansk People’s Republics of Ukraine (the “Covered Regions”) as states and deployment of Russian troops to the Covered Regions, the United States and its...more

Husch Blackwell LLP

OFAC Imposes “First Tranche” of Russia Sanctions Aimed at Russian Banks and Oligarchs

Husch Blackwell LLP on

On February 22, 2022, one day after the Russian Federation formally recognized the Donetsk People’s Republic (“DNR”) and Luhansk People’s Republic (“LNR”) of Ukraine as “independent states” and the Biden Administration...more

The Volkov Law Group

Preparing for New Russia Sanctions Program: Are You Ready?

The Volkov Law Group on

Compliance Professionals: As the Ukraine braces for a possible Russian incursion, are you bracing for the impact of economic sanctions against Russia?...more

24 Results
 / 
View per page
Page: of 1

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide
- hide