Cari Stinebower

Blogs: Data Law Insights, International Trade Law

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OFAC Begins to Solidify Long-Awaited Guidance on Expected Elements for OFAC Compliance Programs

By Carlton Greene, Cari Stinebower, Dj Wolff & Dainia Jabaji on April 8, 2019

The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) is known for imposing hefty penalties for violations of US economic sanctions, with individual violations amounting to up to US $295,141 or twice the value of the transaction, whichever is greater, per prohibited transaction, and overall penalties sometimes running into the hundreds of millions, or even billions, of dollars. Despite this, OFAC historically has not provided much guidance for companies on the…

International Trade Law

OFAC Puts Shipping Community on Notice with Updates and Expanded Guidance

By Cari Stinebower, Michelle Linderman & Dj Wolff on March 27, 2019

Over the last week, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has issued two updated advisories, as well as issued a series of new designations of Specially Designated Nationals (SDNs), highlighting the sanctions-related risks for, and the focus on, the shipping community. Taken together, they provide important guidance for members of the shipping industry—including shipping companies, ship owners, insurance companies, and financial institutions with shipping practices, port operators, and…

International Trade Law

Latin America Regional Recap: January and February

By Cari Stinebower, David Baron, Eduardo Mathison, Brian McGrath, Alexandra Solórzano & Rebecca Toro Condori on March 6, 2019

Crowell & Moring’s Latin America Practice publishes a Regional Recap each month to highlight some of the most relevant news and trends from the region impacting international trade and investment. To learn more about each issue, please click on the hyperlink below. Major trend: Battling Systematic Corruption Venezuela: A Storm of Political Uncertainty Brazil: Changing Old Ways PROSUR: Colombia Paving a New Path Mexico: A “Free Zone” Nicaragua: Dialogue 2.0? Cuba: A Potential Tsunami of …

International Trade Law

PROSUR: Chile to Host First Summit for New South American Union Next Month

By Cari Stinebower, Eduardo Mathison & Alexandra Solórzano on February 25, 2019

Following Colombia’s official withdrawal from the intergovernmental regional organization UNASUR (Union of South American Nations), Colombian President Iván Duque announced on January 14 the creation of a new union called PROSUR. President Duque explained that PROSUR would function as an organization for regional coordination and cooperation of public policy, defense of democracy, promotion of the separation of powers, and the fostering of market economies among South American countries. On February 19, Chilean President Sebastian Piñera…

International Trade Law

Ecuador Cracking Down on Corruption

By Cari Stinebower, Rebecca Toro Condori & Alexandra Solórzano on February 25, 2019

ecuador-flag-waving-cloudy-sky-background-picture-id1086106640

On February 19th, Ecuador’s Anti-Corruption Secretary, Iván Granda, and Minister of Foreign Affairs & Human Mobility, José Valencia, hosted the first meeting for the creation of the International Anti-Corruption Commission. Attendees included the diplomatic corps, members of multilateral organizations, and civil society representatives. Granda indicated that the three objectives of the Commission were: Corruption prevention; Investigation of alleged cases of corruption; and Combating and prosecuting acts of corruption – including the repair and recovery of…

International Trade Law

Podcast: The State of Play in Venezuela

By Cari Stinebower, Eduardo Mathison & Mariana Pendas on February 14, 2019

Updates about the current situation in Venezuela have been coming in rapidly. Recently, we wrote about OFAC adding PdVSA to the SDN list. In this podcast, Crowell & Moring’s Cari Stinebower, Eduardo Mathison, and Mariana Pendás provide an overview of recent developments in Venezuela and explain what U.S. companies need to know about how these developments could impact trade.Click on an option below to access the podcast: Crowell.com | SoundCloud Crowell & Moring’s…

International Trade Law

All or Nothing? OFAC Adds PdVSA to the SDN List

By Cari Stinebower, Dj Wolff, Eduardo Mathison & Alexandra Solórzano on January 30, 2019

On January 28, 2019, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) designated Petróleos de Venezuela, S.A. (PdVSA) pursuant to Executive Order (E.O.) 13850 – “Blocking Property of Additional Persons Contributing to the Situation in Venezuela”. Further, OFAC amended General License 3, issued eight (8) new General Licenses, and published a new Frequently Asked Question (FAQ) on the new E.O. – “Taking Additional Steps to Address the National Emergency with Respect…

International Trade Law

New Law Puts Nicaragua in the Cross-Hairs of Potential U.S. Financial Restrictions and Possible Additional Sanctions

By Cari Stinebower, David Baron, Eduardo Mathison, Alexandra Solórzano & Edward Goetz on December 20, 2018

On December 20, 2018, President Trump signed into law the Nicaragua Human Rights and Anticorruption Act of 2018 (NICA Act). The sanctions listed in the NICA Act are additional and would be complementary to the current sanctions that have already been imposed on Nicaragua by the US Office of Foreign Assets Control (OFAC). The NICA Act aims to block any loan that could be issued by international financial institutions that could benefit the…

International Trade Law

Putin Signs First Countersanctions Bill into Law; Debate Continues on Second Measure

By Cari Stinebower, Michelle Linderman, Dj Wolff, Chris Monahan, Elena Klonitskaya & Sergey Kvitkin on June 8, 2018

Following the imposition of new U.S. sanctions on Russia in April 2018, Russian lawmakers have introduced two draft bills proposing Russian countersanctions against ‘unfriendly’ states, as well as criminalizing compliance with foreign sanctions in Russia. The Countermeasures Bill The first measure, the Draft Bill No. 441399-7 On Measures (Countermeasures) in Response to Unfriendly Actions of the USA and (or) other Foreign States (the Countermeasures Bill) passed both chambers of the Federal Assembly, and was signed…

International Trade Law

Implications of the U.S. Withdrawal from the Joint Comprehensive Plan of Action and the Re-Imposition of U.S. Sanctions on Iran

By Cari Stinebower, Alan W. H. Gourley, Dj Wolff, Erik Woodhouse & Dalal Hasan on May 14, 2018

On May 8, 2018, President Trump announced the United States’ withdrawal from the Joint Comprehensive Plan of Action (JCPOA) pursuant to which the United States had provided relief from certain direct sanctions and even more secondary sanctions. Following his remarks, the president signed a National Security Presidential Memorandum directing the Departments of State and the Treasury to “begin reinstating” U.S. nuclear sanctions that had been lifted in connection with JCPOA implementation. Immediately following the…

Cari Stinebower

OFAC Begins to Solidify Long-Awaited Guidance on Expected Elements for OFAC Compliance Programs

OFAC Puts Shipping Community on Notice with Updates and Expanded Guidance

Latin America Regional Recap: January and February

PROSUR: Chile to Host First Summit for New South American Union Next Month

Ecuador Cracking Down on Corruption

Podcast: The State of Play in Venezuela

All or Nothing? OFAC Adds PdVSA to the SDN List

New Law Puts Nicaragua in the Cross-Hairs of Potential U.S. Financial Restrictions and Possible Additional Sanctions

Putin Signs First Countersanctions Bill into Law; Debate Continues on Second Measure

Implications of the U.S. Withdrawal from the Joint Comprehensive Plan of Action and the Re-Imposition of U.S. Sanctions on Iran

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