Category Archives: Sanctions

Subscribe to Sanctions RSS Feed

U.S. Extends Authorization for Transactions with Sanctioned Belarusian Entities

On April 29, 2016, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) issued General License No. 2A  extending its previous Oct. 29, 2015, Belarus-related general authorization (General License 2) to engage in transactions with all sanctioned Belarusian entities. The previous General License 2 expired April 29, 2016. OFAC General License 2A … Continue Reading

New North Korea Sanctions Designations

Further to the newly-enacted North Korea Sanctions and Policy Enhancement Act of 2016 (H.R. 757) (the Act) summarized in our previous GT Alert, on March 16, 2016, President Obama issued an executive order implementing a number of sanctions measures pursuant to the Act. The EU has also introduced new sanctions against North Korea, following the … Continue Reading

U.S. Further Eases Restrictions on Cuba Travel and Financial Transactions

In its most recent move in a series of changes designed to increase engagement between the United States and Cuba, and in line with the Administration’s policy, on March 16, 2016, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) amended the existing Cuban Assets Control Regulations (Cuba Sanctions Regulations) in three … Continue Reading

President Obama Signs Legislation Tightening North Korea Sanctions

On Feb. 18, 2016, President Obama signed into law the North Korea Sanctions and Policy Enhancement Act of 2016 (H.R. 757) (the Act), a bill tightening U.S. sanctions against North Korea.  The legislation imposes strict licensing requirements for the export or reexport to North Korea of any U.S.-origin goods, software, or technology, and grants the … Continue Reading

EU Lifts Majority of Belarus Sanctions

On Feb. 15, 2016, European Union (EU) foreign ministers met in Brussels and agreed to permanently lift most EU sanctions against Belarus. The unanimous decision, effective March 1, 2016, will result in the termination of travel bans and asset freezes currently in place against 170 Belarusian individuals, including the president of Belarus. The decision also … Continue Reading

Iran Deal is Implemented: U.S. and EU Remove Nuclear-Related Sanctions on Iran

Jan. 16, 2016 marked “Implementation Day” of the Iran Joint Comprehensive Plan of Action (JCPOA), as the U.S. initiated the removal of its nuclear-related sanctions against Iran and the EU removed the majority of its existing Iran-related sanctions. The final precondition to Implementation Day was met when the International Atomic Energy Agency (IAEA) issued a … Continue Reading

The Next Modest Wave of Cuba Thaw—U.S. Eases Restrictions on Exports, Export Trade Financing, and Artistic Productions

On Jan. 27, 2016, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) once again amended the existing Cuban Assets Control Regulations (Cuba Sanctions Regulations) to open the door for further U.S. engagement with Cuba. The amendments remove certain restrictions on the financing of exports to Cuba as well as restrictions on … Continue Reading

U.S. Sanctions Mexican Executive, Airline, and Newspaper Tied to Drug Trafficking Organization

On Dec. 16, 2015, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) designated a Mexican national, Naim Libien Tella, and four Mexican entities linked to Libien Tella, under the Kingpin Act. The new designations, which include a Mexican airline and newspaper, stem from Libien Tella’s narco-trafficking activities in association with the … Continue Reading

Iran Deal Delivered to U.S. Congress and U.N. Resolution Issued

On July 19, 2015, the U.S. State Department transmitted the Iran nuclear deal to Congress, commencing Congress’ 60-day review period. In addition, as required under the JCPOA, the U.N. Security Council passed a resolution endorsing the Iran nuclear deal on July 20, 2015. In this GT Alert, the authors discuss the impact of the moves on those … Continue Reading

Iran Nuclear Deal Reached – Prospects for Sanctions Relief

On July 14, 2015, the five permanent members of the U.N. Security Council (China, France, Russia, the United Kingdom, and the United States) plus Germany and Iran announced that they had reached a final deal regarding Iran’s nuclear program. In this GT Alert, the authors discuss the impact of the deal on those conducting business in … Continue Reading

U.S. Treasury & Commerce Departments Issue New Crimea Authorizations and Clarifications

The U.S. Government has amended the Crimea sanctions, in part, to foster and support the free flow of information to individual citizens in the Crimea region of Ukraine (Crimea) and to ensure that the sanctions against Crimea do not have the unintended effect of preventing companies from providing personal communications tools to individuals in Crimea. … Continue Reading

U.S. and EU Achieve Framework for Deal in Iran Nuclear Talks

On April 2, 2015, the five permanent members of the UN Security Council (China, France, Russia, the United Kingdom, and the United States) plus Germany, the European Union, and Iran came to agreement on a framework for achieving a final deal regarding Iran’s nuclear program. This framework forms the foundation for the Joint Comprehensive Plan … Continue Reading

Cuba to Be Removed from U.S. State Sponsors of Terrorism List

On April 14, 2015, President Obama announced the removal of Cuba from the U.S. list of State Sponsors of Terrorism, a move that will allow the elimination of certain economic sanctions and pave the way for the restoration of diplomatic relations between the United States and Cuba. In this GT Alert, the authors discuss the … Continue Reading

U.S. Adds to its List of Ukraine-Related Sanctions

On March 11, 2015, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) imposed new Ukraine-related targeted sanctions on several Russian and Ukrainian individuals and entities in response to Russian violations of the ceasefire brokered in February 2015 between the parties associated with separatist violence in Ukraine. The newest measures add 14 … Continue Reading

U.S. Sanctions Against North Korea Expanded

On Jan. 2, 2015, President Obama signed an Executive Order expanding the scope of the current U.S. sanctions against North Korea. The expanded sanctions are directed primarily at the government of North Korea and associated entities and individuals. Pursuant to the new sanctions, the property of three North Korean governmental entities and 10 associated individuals … Continue Reading

U.S. Persons Activity to Wind Down in Crimea

On Dec. 30, 2014, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) issued Ukraine-related General License No. 5 authorizing U.S. persons to engage in activities ordinarily incident and necessary to winding down U.S. person activity with or in the Crimea region of Ukraine (Crimea) that existed prior to Dec. 20, 2014. … Continue Reading

Crimea Sanctions Imposed by U.S.

On Dec. 19, 2014, President Obama signed an Executive Order prohibiting most transactions by U.S. persons with respect to the Crimea Region of Ukraine (Crimea) and blocking the property of certain individuals and entities (together, Crimea Sanctions). Additionally, the Office of Foreign Assets Control (OFAC) issued General License No. 4, providing limited relief to the … Continue Reading

New EU Sanctions for Crimea and Sevastopol

The European Union (EU) adopted new sanctions Friday, Dec. 19, 2014, relating to the conflict situation in Ukraine. The sanctions specifically target Crimea and Sevastopol. The new measures confirm, once again that the EU does not recognize Russia’s annexation of Crimea and Sevastopol, which occurred earlier this year. Continue Reading.… Continue Reading

Legislation Signed for Ukraine and Russia-Related Sanctions

Further to our previous Alert summarizing the Ukraine Freedom Support Act of 2014 (UFSA) passed by the U.S. Congress, President Obama signed into law the UFSA on Dec. 18, 2014. The UFSA authorizes the president to impose additional sanctions against the Russian energy and defense sectors and financial institutions, but does not mandate specific sanctions. … Continue Reading

Obama Announces Plans for Overhauling Cuba Embargo

On Dec. 17, 2014, President Obama announced plans for an historic overhaul of the U.S. embargo against Cuba. Among other changes, the president’s announcement indicated that significant developments are expected in the current U.S. restrictions on Cuba-related travel, financial transactions, export and import regulations, and telecommunications. Importantly, the changes announced by the White House are … Continue Reading

U.S., EU Announce Additional Ukraine and Russia Sanctions

On Sept. 12, 2014, the United States and European Union announced additional sanctions on Russia in connection with Russia’s continued destabilization of eastern Ukraine. The sanctions are the latest round in a series of restrictions that specifically target Russia’s financial, energy (oil and gas) and defense sectors. Continue Reading.… Continue Reading

U.S. Treasury Expands Guidance on Corporate Compliance Obligations

The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) recently expanded its guidance for determining whether an entity is considered to be owned by a sanctioned person, and therefore is the target of U.S. economic sanctions (the 50 Percent Rule). The expanded guidance increases the already complicated task of screening business partners … Continue Reading

U.S. Announces New Sanctions Against Ukraine, Russia

In July 2014, the U.S. Government announced several rounds of sanctions and export restrictions imposed against certain Russian entities and individuals in response to the current situation in Ukraine. For your reference, review the complete list of sanctioned entities from the Department of Treasury, Office of Foreign Assets Control (OFAC) website, as well as the … Continue Reading
LexBlog