Topic
Sanctions
3,138 published works
GT London Law Blog
OFSI Updates Guidance on Refusing Licences
By Annabel Thomas, Gavin Costelloe, Bethany Histed, Kara M. Bombach
HM Treasury announced 26 July that the UK’s Office of Financial Sanctions Implementation (OFSI) has amended Section 6.12, Refusal of a licence, of its UK Financial Sanctions, General Guidance, removing the…
Shufti Pro Blog
New York Federal Reserve Sued by Puerto Rican Bank For Blocking Service in Venezuela
By Richard M.
A Puerto Rican bank has sued the New York Federal Reserve on 25th July for suspending their access to the US international banking system, for improperly cutting off the link…
GovCon & Trade
[WEBINAR] Significant EAR Violations and BIS Policy Shift: Incentivized Voluntary Self-Disclosure, Third-Party Whistleblowing
By Thad McBride
I am looking forward to speaking on a panel at an upcoming Strafford webinar addressing the U.S. Department of Commerce's recent policy shift that increases the incentives for companies to…
Cleary Foreign Investment and International Trade Watch
Nationalization of Russian Assets of Investors From Unfriendly States Continues
By Yulia A. Solomakhina, Nikita Klepalov, Chase D. Kaniecki, Polina Lyadnova, dmulloy
On May 9, 2023, we wrote about Decree of the President of Russia No. 302 that created a framework for nationalization of Russian assets belonging to persons from “unfriendly” states…
Trade Compliance Resource Hub
EU clarifies Article 3eb and 3ec port ban restrictions
By Leigh T. Hansson, Alexander Brandt, James Willn, Tan Albayrak, Sophie Davis, Finlay Donaldson, Ray-Shio Ho, Stephan Johansen, William Young
On 24 July 2023, the EU Commission published updated FAQs (here and here) relating to the port ban restrictions under Articles 3eb and 3ec of the EU’s 11th Sanctions Package…
SmarTrade
OFAC Designates Additional Russian Companies, Banks and Vessels to Further Hinder Russia’s Military Efforts in Ukraine
By Scott E. Diamond**, Samir D. Varma, Francesca M.S. Guerrero
On July 20, 2023, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) implemented further sanctions against Russia to restrict “access to products that support its military and…
SmarTrade
OFAC Again Revises Venezuela General License, Extending Delay of PdVSA 2020 8.5% Bond-Related Authorizations
By Scott E. Diamond**, Samir D. Varma, Francesca M.S. Guerrero
On April 19, 2023, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) issued General License (GL) 5L, “Authorizing Certain Transactions Related to the Petróleos de Venezuela, S.A. 2020…
The IP Law Blog
Court Orders Monetary Sanctions after Plaintiff Fails to Provide any Response to Allegedly Overbroad Discovery Requests
In Buergofol GmbH v. Omega Liner Company, Inc., 4-22-cv-04112 (DSD Jul. 13, 2023) (Karen E. Schreier), the court granted the defendant’s motion to compel and awarded monetary sanctions after the…
Cleary Foreign Investment and International Trade Watch
Russian Countermeasures: The Governmental Commission Imposes Additional Conditions on Exits by Investors From Unfriendly Jurisdictions
By Yulia A. Solomakhina, Nikita Klepalov, dmulloy
On July 7, 2023, the Governmental Commission for Control over Foreign Investments (the “Governmental Commission”) adopted a new set of conditions for exits by investors from “unfriendly” jurisdictions (those that…
SmarTrade
OFAC Issues General License 40B Continuing to Authorize Certain Transactions Involving the Export of LP Gas to Venezuela
By Scott E. Diamond**, Samir D. Varma, Francesca M.S. Guerrero
On July 10, 2023, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) issued Venezuela-related General License 40B, “Authorizing Certain Transactions Involving the Exportation or Reexportation of Liquefied Petroleum…