On June 11, 2026, the US Department of the Treasury’s Office of Foreign Assets Control (“OFAC“) published in the Federal Register the List of Medical Devices Requiring Specific Authorization under the North Korea Sanctions Regulations, 31 CFR Part 510 (“NKSR“).
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.
Latest from Sanctions & Export Controls Update - Page 5
US Government Updates 1260H List of Chinese Military Companies
On June 8, 2026, the US Department of Defense (“DoD”) published an update to its list of “Chinese military companies” (“CMCs”) operating directly or indirectly in the United States (the “1260H List”), pursuant to Section 1260H of the National Defense…
OFAC Expands Guidance on Strait of Hormuz “Safe Passage” Restrictions
Since issuing its Frequently Asked Questions (“FAQ”) 1249 on April 28, 2026, the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) has updated its position with respect to “toll” payments to Iran for safe passage through the…
EU: Commission Announces 21st Sanctions Package against Russia Targeting Energy, Financial Sector and Trade
On 9 June 2026, European Commission President Ursula von der Leyen announced that the European Commission is preparing a 21st sanctions package against Russia, marking a further step in the EU’s ongoing effort to intensify economic pressure following Russia’s continued…
US Continues to Expand Cuba Sanctions: New SDN Designations and Secondary Sanctions Guidance
On June 4, 2026, the US Department of State announced a new round of designations under Executive Order 14404 (“EO 14404“) targeting five entities and five individuals for being “associated with developing, implementing, and funding the Cuban regime’s violent revolutionary
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Spain’s Export Controls Regime: Recent Developments and What Comes Next
Spain’s Secretaría General de Comercio (General Secretariat for Trade) recently held an informational briefing outlining significant developments in the country’s export control framework. The session addressed both recently implemented measures and upcoming regulatory changes that are expected to reshape the way…
BIS Clarifies That License Requirements for Advanced Computing Items to Country Group D:5- and Macau-Headquartered Entities Remain in Force Despite AI Diffusion Rule Non-Enforcement
On May 31, 2026, the US Department of Commerce’s Bureau of Industry and Security (“BIS”) issued guidance clarifying that a license continues to be required under the Export Administration Regulations (“EAR”) for exports of advanced computing items to entities located…
UK Financial Conduct Authority publishes report indicating that financial institutions must do more to prevent sanctions breaches: key takeaways
On 28 May 2026, the UK Financial Conduct Authority (“FCA”) published a detailed report outlining steps that financial institutions take to comply with sanctions requirements, including examples of good and poor practice. The report addresses both financial and trade sanctions…
Swiss Federal Supreme Court clarifies the evidentiary threshold triggering asset freeze and reporting obligations under Art. 15 para. 1 and Art. 16 para. 1 of the Ukraine Ordinance
Judgment 4A_537/2025 of 28 April 2026
In its recent judgment 4A_537/2025 of 28 April 2026, the Swiss Federal Supreme Court upheld the judgment of the Commercial Court of the Canton of Zurich of 17 September 2025 (HG230210-O) and…
OFAC Issues General License No. 134C Extending Authorization for Certain Russia‑Origin Crude Oil and Petroleum Product Transactions
On May 18, 2026, the US Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) issued General License No. 134C (“GL 134C”), further extending the temporary authorization for certain transactions involving crude oil and petroleum products of Russian Federation…