On 8 September 2026, the UK government designated five settlers under the existing Global Human Rights Sanctions Regulations 2020 and announced that it will introduce a new sanctions regime targeting settlements in the occupied West Bank over the next six to nine months, under the powers conferred
Sanctions & Export Controls Update
The Sanctions & Export Controls Update blog, published by Baker McKenzie, focuses on legal developments and regulatory changes related to international sanctions and export control regimes. It covers topics such as updates on sanctions imposed by governments and international bodies, compliance requirements for businesses, enforcement actions, licensing procedures, and the impact of sanctions on cross-border trade and transactions. The blog also addresses specific country sanctions, dual-use goods regulations, and coordinated international sanctions efforts, providing insights relevant to multinational corporations, legal practitioners, and compliance professionals navigating complex sanctions landscapes.
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Argentina strengthens oversight of hydrocarbon activities related to the Falkland Islands
In brief
On September 4, 2026, the Argentine Executive Branch issued Executive Order No. 868/2026 (the “Executive Order”), introducing new measures to strengthen the enforcement of Law No. 26,659 regarding hydrocarbon activities on the Argentine Continental Shelf. This law not…
OFAC Expands Iran Sanctions Under “Operation Economic Outcast”
On August 24, 2026, the US Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) launched Operation Economic Outcast, a campaign that OFAC has characterized as an “economic D-Day” against Iran. The action follows OFAC’s earlier “Economic Fury” campaign…
OFAC Removes the US Governing-Law Condition from the Venezuela General Licenses and Issues New Authorizations Related to Telecommunications and Coal
Since August 21, 2026, the US Department of the Treasury’s Office of Foreign Assets Control (“OFAC“) has made a series of changes to the Venezuela-related general licenses (“GLs“) issued under the Venezuela Sanctions Regulations, 31 CFR part 591 (“VSR“). OFAC…
US Government Issues Executive Order 14420 to Secure US Bulk-Power System
On August 26, 2026, President Trump issued Executive Order 14420, “Declaring a National Emergency to Secure the United States Bulk-Power System” (“EO 14420“), which aims to prevent certain foreign actors from creating or exploiting vulnerabilities in foreign-produced equipment used…
United States Streamlines Drone Export Controls While Imposing New Section 232 Tariffs on Drone Imports
On August 13, 2026, the Trump Administration introduced a combination of trade measures intended to expand export opportunities for US unmanned aerial vehicle (UAV or drone) manufacturers while increasing incentives to source and produce drone technologies in the United States.…
US Rescinds Syria’s State Sponsor of Terrorism Designation and Delists Hay’at Tahrir al-Sham
On August 24, 2026, the US Department of State rescinded Syria’s designation as a State Sponsor of Terrorism (“SST”) and revoked the designation of al-Nusrah Front, also known as Hay’at Tahrir al-Sham (“HTS”), as a Specially Designated Global Terrorist (“SDGT”).…
Switzerland Implements Remainder of EU’s 20th Sanctions Package Against Russia
On 19 August 2026, the Swiss Federal Council adopted extensive amendments to the Ordinance on Measures in Connection with the Situation in Ukraine (the “Ukraine Ordinance”; the following citations in each case refer to the Ukraine Ordinance), thereby completing the…
US Government Expands Cuba Sanctions Program with New Designations and General Licenses
On July 23, 2026, the US Department of State designated multiple entities and individuals in Cuba, and the US Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) issued three new Cuba-related general licenses.
The actions are intended to…
FinCEN Commits to Forbear from BSA Enforcement for Authorized Financial Services in Venezuela
On July 27, 2026, the US Department of the Treasury’s Financial Crimes Enforcement Network (“FinCEN”) issued a statement (here) of enforcement policy committing not to take supervisory or enforcement action against US financial institutions under the Bank Secrecy…