Introduction
The OFAC is a department in the US Treasury responsible for issuing OFAC licenses. The authority is responsible for administering and enforcing economic trade sanctions against states, organizations, and individuals. It was created in 1950 when China entered the
Please join us for an update from our Trans-Atlantic team on the current state of the rapidly changing Russia-related sanctions landscape, including new measures both implemented and expected, from the United States, United Kingdom, and European Union.
Wednesday,
March 2,
On 10 June 2021, the Standing Committee of the National People’s Congress passed the “Anti-Foreign Sanctions Law of the People’s Republic of China” (hereinafter referred to as the “Anti-Foreign Sanctions Law ”, 中华人民共和国反外国制裁法), which aims to provide sufficient legislative safeguards for
BY MARK LANTERMANRansomware, as most of us know by now, is a type of malware that takes data or devices hostage, with cyber attackers demanding the payment of a ransom in exchange for restored access. Preparation is the critical factor
Agudas Chasidei Chabad of the United States v. Russian Federation, (D DC, Nov. 6, 2020), is the latest decision in a long-running attempt by Agudas Chasidei Chabad to recover from the Russian government two expropriated collections of valuable Jewish religious
Yesterday, OFAC announced amendments to the Cuba embargo that will further restrict the ability of U.S. companies to process remittances to or from Cuba. Specifically, the new rules prohibit U.S. companies from processing remittances involving Cuban entities on the State
On April 16, 2020 the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has issued consolidated guidance related to the Provision of Humanitarian Assistance and Trade to Combat COVID-19 on OFAC-administered sanctions programs related to Iran, Venezuela,
On June 3, 2020, the International Chamber of the Paris Court of Appeal rejected an annulment application brought against an arbitral award rendered by a Paris-seated ICC arbitration tribunal. The ICC tribunal on December 27, 2018 rendered an award in
On 28 May 2020, Flex Ltd (“Flex”), a Singapore-based electronics manufacturer listed on the NASDAQ, disclosed in its 2020 US Securities and Exchange Commission (“SEC”) filing that it had initiated a voluntary self-disclosure to the US Office of Foreign Assets
In a geopolitically significant case, the English High Court opined on important provisions of the EU sanctions regime.
By Charles Claypoole, Robert Price, and Olivia Featherstone
The judgment of the English High Court in Ministry of Defence &