On April 15, 2021, the US announced a marked expansion of sanctions against Russia and President Biden issued a new Executive Order authorizing the imposition of yet more sanctions. The sanctions include restrictions on certain transactions involving Russian sovereign debt, as well as the designation of 46 individuals and entities implicated in Russia’s annexation of Crimea, foreign … 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
The Trump Administration issued an Executive Order (EO) on October 14, 2019, that authorized US Department of the Treasury (Treasury) and US Department of State to impose sanctions on various Turkish individuals and entities involved in the conflict in Northern Syria. The same day that the EO was issued, Treasury’s Office of Foreign Assets Control (OFAC) designated three individuals and two entities as … Continue Reading
On January 27, 2019, the Department of Treasury’s Office of Foreign Assets Control (OFAC) announced that it has removed from its Specially Designated Nationals and Blocked Persons (SDN) list certain information for EN+ Group PLC, JSC Eurosibenergo and United Company RUSAL PLC.… Continue Reading
On January 24, 2019, the Department of Treasury’s Office of Foreign Assets Control (OFAC) announced that it has added several individuals and aircraft to its Specially Designated Nationals and Blocked Persons (SDN) list. It also updated information relating to the Islamic Revolutionary Guard Corps.… Continue Reading
