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Sanctions
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International Trade Insights
OFAC and State Department Designate Severstal, Nord Gold and Additional Russians as SDNs
By Cortney Morgan, Grant Leach, Tony Busch, Isabella Peek
On June 2, 2022, the Office of Foreign Assets Control (OFAC) added new Russian vessels and aircraft used by Russian elites, new top Russian government officials, and their companies and…
International Trade Law
Sanctions/Export Highlights [As of June 9, 2022]
By Caroline Brown, Carlton Greene, Jeffrey L. Snyder, Anand Sithian, Laurel Saito
Sixth Round of EU Sanctions As previewed in last week’s weekly highlights, the EU published a new round of sanctions on June 3, 2022, which includes a wide range of…
Real Bankruptcy Intel
What We’re Reading This Week [June 10, 2022]
By Danielle A. Corn, Aaron Gavant, Sean T. Scott, Samuel R. Rabuck
The Wall Street Journal reports that the U.S. Treasury moved on Tuesday to block U.S. investors from purchasing Russian debt in secondary markets. As a response to the Russian invasion…
LegaMart Blog
Primary and Secondary Sanctions
Sanctions introduction Sanctions are an official order, such as banning trade, that is taken against a state. This is done to make that state obey the international law principles. When…
LegaMart Blog
OFAC, Its 5 Essential Components, and Exemptions
OFAC, what is it? OFAC (The Office of Foreign Assets Control) is a department in the U.S. Treasury. It is a supervisory authority that administers and enforces economic trade sanctions…
Cleary Foreign Investment and International Trade Watch
U.S. Federal Judge Finds Probable Cause for Conspiracy to Violate U.S. Sanctions and to Defraud the United States in First Published Opinion Discussing U.S. Sanctions Violations Involving Use of Cryptocurrency
By Abena Mainoo, Chase D. Kaniecki, William S. Dawley
In a recent opinion, U.S. Magistrate Judge Zia M. Faruqui of the U.S. District Court for the District of Columbia held that there is probable cause to find that a…
Trade Compliance Resource Hub
The EU’s sixth package of sanctions against Russia has been formally adopted: what do you need to know?
By Leigh T. Hansson, James Willn, Alexander Brandt, Ray-Shio Ho, Finlay Donaldson
The EU has now formally adopted its long-awaited sixth package of sanctions against Russia. In our latest client alert, we outline the key points that you need to know, including:…
GovCon & Trade
Russia, Ukraine: Update as of June 6
The Bass, Berry & Sims international trade team is actively monitoring the situation in Russia and Ukraine and providing real-time advice to clients on managing the situation. This post summarizes…
SmarTrade
BIS Adds 71 Russian and Belarusian Companies to Entity List
By Samir D. Varma, Francesca M.S. Guerrero, Scott E. Diamond**
On June 2, 2022, the Department of Commerce’s Bureau of Industry and Security (BIS) issued a Final Rule adding 71 entities located in Russia and Belarus to the Entity List…
SmarTrade
OFAC Designates Additional Russian Entities and Persons and Issues Russia-Related General Licenses
By Samir D. Varma, Francesca M.S. Guerrero, Scott E. Diamond**
On June 2, 2022, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) designated and blocked numerous additional Russian and related entities that are “key networks” relied upon…