Category Archives: OFAC

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U.S. Sanctions Venezuelan President, Additional Sanctions May Follow

On July 31, 2017, the Department of Treasury, Office of Foreign Assets Control (OFAC) announced further sanctions against Venezuela, specifically targeting Venezuelan President Nicolas Maduro Moros. The sanctions against President Maduro are the second set of sanctions that the United States has imposed against Venezuela in the past week, as 13 Venezuelan individuals, including members … Continue Reading

U.S. Sanctions Venezuelan Individuals, Including PDVSA Officials

The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has recently sanctioned 13 Venezuelan individuals alleged to be involved in human rights abuses and corruption. According to the Trump Administration, the new sanctions were imposed in part to pressure the Venezuelan government not to proceed with a proposed rewrite of the Venezuelan … Continue Reading

Trump Announces Cuba Policy Targeting Commercial Dealings With Cuban Military

After much anticipation, on June 16, 2017, President Trump announced changes to U.S. policy under the existing embargo against Cuba, which reinstate some pre-Obama restrictions. The changes are relatively minor and are not expected to significantly impact most of the Obama administration’s relaxation in Cuba policy. It remains to be seen exactly how the policy … Continue Reading

U.S. Government Suspends Comprehensive Sanctions on Sudan

Effective Jan. 17, 2017, the U.S. government significantly eased restrictions on transactions between U.S. persons and Sudan, against which comprehensive sanctions had previously been in place. Specifically, on Jan. 13, 2017, President Obama issued an Executive Order (EO), “Recognizing Positive Actions by the government of Sudan and Providing for the Revocation of Certain Sudan-Related Sanctions,” … Continue Reading

While Cuban Embargo Remains, Latest Round of Historic U.S. Changes Foster Increased Trade

While the nearly comprehensive U.S. embargo on trade with Cuba remains and will require an act of Congress to be eliminated, the U.S. government has issued another round of measures further easing the U.S. sanctions and export control restrictions against Cuba.  Effective Oct. 17, 2016, the U.S. Department of the Treasury’s Office of Foreign Assets … Continue Reading

U.S. Increases Civil Penalties for Export Controls and Economic Sanctions Violations

The U.S. government has announced significant increases to the maximum civil penalties for U.S. export controls and sanctions violations. The increases are required by the Federal Civil Penalties Inflation Adjustment Act Improvements Act of 2015 (the FCPIA Act). Details of the penalty increases are described below and available in the Federal Register, Vol. 81, No. … Continue Reading

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

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

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

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

U.S. Authorizes Transactions with Certain Belarusian Entities

Effective Oct. 30, 2015, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) issued a Belarus-related General License authorizing U.S. persons to engage in all previously prohibited transactions with certain Belarusian entities despite OFAC’s sanctions against certain targeted individuals and entities in Belarus. The General License, however, contains a reporting obligation that … Continue Reading
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