On Thursday, May 7 at 10 a.m. EDT (16:00 CEST), José María Viñals, trade practitioner based in our Madrid and Brussels offices, will moderate a panel discussion on the economic and trade impact of the coronavirus disease 2019 (COVID-19) on Latin America.… Continue Reading
On October 14, 2019, the EU published a regulation concerning restrictive measures in view of the situation in Nicaragua. The EU sanctions target persons and entities responsible for human rights violations or abuses, the repression of civil society and democratic opposition in Nicaragua, as well as persons and entities whose actions, policies or activities otherwise undermine democracy and the rule of … Continue Reading
In early October, OFAC announced a US$2,718,581 settlement with The General Electric Company (GE) of Boston, Massachusetts. GE, on behalf of three GE subsidiaries, Getsco Technical Services Inc., Bentley Nevada and GE Betz (collectively, the “GE Companies”), agreed to settle its potential civil liability for 289 alleged violations of the Cuban Assets Control Regulations (CACR). Specifically, between December 2010 and February … Continue Reading
On September 4, 2019, the US Department of the Treasury’s Office of Foreign Assets Control (OFAC) published in the Federal Register a new final rule on the Nicaragua Sanctions Regulations, 31 C.F.R. Part 582 (Nicaragua Regulations), which implement Executive Order (EO) 13851 of November 27, 2018, “Blocking Property of Certain Persons Contributing to the Situation in Nicaragua”. The Nicaragua Regulations mirror the substance … Continue Reading
On August 5, 2019, President Trump signed a new Venezuela-related Executive Order (EO), which imposes additional sanctions on the government of Venezuela. … Continue Reading
On June 13, 2019, the US Treasury Department’s Office of Foreign Assets Control (OFAC) announced settlements with three travel companies – Expedia Group, Inc. (Expedia), Hotelbeds USA, Inc. (Hotelbeds USA) and Cubasphere Inc. (Cubasphere) – for their alleged involvement in booking travel to Cuba or arranging trips for Cuban nationals between 2011 and 2014.… Continue Reading
Since taking office in January 2017, President Trump has made use of several provisions of US law – including Section 301, targeting unfair trade practices, and Section 232, targeting threats to national security – to bring trading partners to the negotiating table. Major developments over the last two weeks could impact global supply chains across a wide range … Continue Reading
The first round of 5-day negotiations to modernize the North American Free Trade Agreement (NAFTA) concluded on August 20. In a joint statement released by trade officials from the United States, Mexico and Canada, they restated the commitment to updating the deal, continuing domestic consultations, and working on draft text. They also committed to a … Continue Reading
On May 18, 2017, US Trade Representative Robert Lighthizer formally notified the US Congress of President Donald Trump’s intent to renegotiate the North American Free Trade Agreement (NAFTA). In letters transmitted to senior Congressional leaders, Ambassador Lighthizer pledged that the administration will consult closely with Congress to ensure its negotiating positions are consistent with the … Continue Reading
President Donald Trump hosted the Canadian and Israeli Prime Ministers at the White House last week. Secretary of State Rex Tillerson and Secretary of Homeland Security John Kelly traveled to Mexico City this week to discuss trade and security matters. Cabinet Shuffle. Gen. Michael Flynn resigned as the National Security Advisor (NSA) last week, after … Continue Reading
Since taking office on January 20, 2017, President Trump’s actions on several trade-related matters – from officially withdrawing the US from the Trans-Pacific Partnership (TPP), to signaling the renegotiation of the North American Free Trade Agreement (NAFTA), to suggesting reconsideration of existing bilateral trade agreements – will have a ripple effect seen and felt around the … Continue Reading
Early last week, President Barack Obama visited Cuba, the first U.S. executive to do so in 90 years, before concluding his trip abroad in Argentina. The President’s historic stop was overshadowed by the terrorist attack in Brussels. This week, President Obama will host the Nuclear Security Summit in Washington, on the margins of which he … Continue Reading
President Barack Obama issued a new Executive Order and restrictions related to North Korea, while the Administration eased some U.S. sanctions against Cuba last week. The President and his family traveled to Cuba on Sunday and will stop in Argentina later in the week. The White House announced early last week that South Africa had … Continue Reading
Frank Samolis, co-leader of our International Trade Practice chaired and presented at two conferences regarding recent trade developments in TPP and TTIP in early November. The first of two conferences was in Moscow, where Frank discussed the future of TTIP, in particular for the Russian and Eurasian markets. He commented, “We covered many of the … Continue Reading
Our firm recently became one of two sponsors of Washington International Trade Association (WITA)’s TPP Series. The series aim to convene diverse stakeholders in the TPP game to discuss various aspects of the ambitious agreement over the next few months. The first event launched on November 19 at WITA’s home in the Ronald Reagan International Trade Center in … Continue Reading
OFAC announced settlement agreements with Crédit Agricole Corporate and Investment Bank (CACIB) and Banco do Brasil for apparent violations of US sanctions. CACIB agreed to pay a total of US$787.3 million in criminal and civil financial penalties, which included penalties assessed by multiple government authorities, in connection with thousands of apparent violations of US sanctions. … Continue Reading
