Topic
Sanctions
3,138 published works
Allens Insights
Sanctions developments in 2023 and expectations for 2024
By Allens
Sanctions risks for businesses continue to increase 9 min read Following the Russian invasion of Ukraine in February 2022, global sanctions proliferated rapidly. This trend continued in 2023, and the…
SmarTrade
USTR Releases Supplemental Multiagency Business Advisory on Burma
By Scott E. Diamond**, Francesca M.S. Guerrero, Samir D. Varma, Aaron C. Mandelbaum
On January 26, 2024, the Office of the U.S. Trade Representative (USTR) released a Supplemental Business Advisory highlighting continued risks and exposure of doing business in Burma. In January 2022, the…
Cleary Foreign Investment and International Trade Watch
Further EU Sanctions Against Russia: Council Adopts 12th Package
By Polina Lyadnova, Andreas Wildner, Yulia A. Solomakhina
On December 18, 2023, the European Union (the “EU”) imposed a number of new economic and individual restrictive measures in relation to Russia (the “12th Package”).[1] This alert memorandum highlights…
SmarTrade
BIS Implements Additional Sanctions Against Russia and Belarus
By Francesca M.S. Guerrero, Samir D. Varma, Scott E. Diamond**, Aaron C. Mandelbaum
Effective January 25, 2024, the Department of Commerce’s Bureau of Industry and Security (BIS) again expanded export controls and sanctions against Russia for its continuing aggression against Ukraine and Belarus…
SmarTrade
U.S. Re-Designates Ansarallah (aka the Houthis) as a Global Terrorist Group
By Scott E. Diamond**, Francesca M.S. Guerrero, Aaron C. Mandelbaum, Samir D. Varma
On January 17, 2024, the Department of State announced that it was re-designating Yemen-based Ansarallah, commonly referred to as the Houthis, as a Specially Designated Global Terrorist (SDGT) group. This designation…
SmarTrade
OFAC Again Extends Authorizations Under Russia General License 13
By Scott E. Diamond**, Francesca M.S. Guerrero, Samir D. Varma, Aaron C. Mandelbaum, Kristina Shcheglazova*
On January 18, 2024, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) again extended previous Russia-related General License (GL) 13 by issuing a revised GL 13H, “Authorizing Certain Administrative…
International Trade Law
OFAC Re-Adds Yemen’s Houthis to SDN List
On January 17, 2024, the US Department of the Treasury (“Treasury”) Office of Foreign Assets Control (“OFAC”) announced the re-addition of Ansarallah, better known as the Houthis, to the List…
SmarTrade
OFAC Continues to Extend Venezuela General License Delaying PdVSA 2020 8.5% Bond-Related Authorizations
By Scott E. Diamond**, Francesca M.S. Guerrero, Aaron C. Mandelbaum
On January 16, 2024, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) issued General License (GL) 5N, “Authorizing Certain Transactions Related to the Petróleos de Venezuela, S.A. 2020…
Global Investigations & Compliance Review
U.S. Sanctions Review: A Recap of OFAC’s Recent Enforcement Actions (Second Half 2023)
The second half of 2023 saw eight enforcement actions from the Department of the Treasury’s Office of Foreign Assets Control (“OFAC”). These actions reflect a range of penalties, industries, sanctions…
Federal Regulatory & Enforcement Insider
Latest Round of Russia Sanctions Targets Foreign Financial Institutions Supporting Russia’s Military-Industrial Base
By Brent Connor, David M. Hernandez, Jaime Rosenberg
On December 22, 2023, President Biden issued Executive Order (E.O.) 14114 further addressing the Russian Federation’s (Russia) continued use of its military-industrial base to support its aggression against Ukraine and…