As arguably its first major action of the new year, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) on January 6 issued a new general license (GL) in response to last month’s fall of the government…
U.S. Sanctions Regulations Blog
Tracking Developments in U.S. and other International Sanctions Regulations
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$1.1 Million OFAC Penalty for Personal Investment in Iran
You may have read that the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) on November 15 announced the issuance of a $1.1 million penalty, in a [so far] rare instance of enforcement against an individual for…
US Announces Sweeping Sanctions on Russian related entities on eve of anniversary of Ukraine invasion
Approaching the second anniversary of the Russian war on Ukraine and in the immediate aftermath of opposition leader Aleksy Navalny’s death, the U.S. Departments of State, Treasury, and Commerce today introduced a wide-ranging sanctions on individuals and entities tied to…
Sanctioned – what being added to OFAC’s SDN list really means
With all the news surrounding the imposition of sanctions on Russia following the country’s February 2022 invasion of Ukraine, many questions abound as to what “being sanctioned” really means. This post will address the issues surrounding being named onto the…
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U.S. sanctions large global networks of Russia facilitators and evaders
The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) today announced scores of designations onto its List of Specially Designated Nationals and Blocked Persons (the “SDN List”). The 25 individuals and 29 entities had a nexus to…
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US Department Of Justice Can Pursue Criminal Charges For Sanctions Evasion By Cryptocurrency, Court Rules
My partner at Akrivis, Sam Amir Toossi, who heads the firm’s White Collar Defense and Commercial Litigation practice wrote this piece, which features on our firm’s website as well. Those of us in the sanctions regulatory and compliance field may…
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Iran Family Remittances: What’s the Latest?
It’s been a long time since I wrote about this topic, but it remains one of perennial interest for many. Unlike many developing countries, Iran is a perhaps a net sender rather than receiver of family remittances. This therefore constantly…
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New Sanctions Hours after Russian Recognition of Sympathetic Regions of Ukraine
The Biden Administration today swiftly implemented broad-reaching sanctions on what it referred to as the “so-called” Donetsk and Luhansk People’s Republics (the DNR and LNR) within Ukraine, hours after Russia recognized these two pro-Russian regions of the country. Specifically, a…
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Yes, the Taliban is sanctioned
We all watched the events of these past weeks in Afghanistan take place in rapid succession. Then Sunday, the Taliban overran the roughly 20-year old, U.S.-supported government last headed by Ashraf Ghani, forcing him into exile. While U.S. contractors have…
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OFAC issues penalties against U.S. and U.A.E. subsidiaries of Swedish manufacturer for Iran sanctions violations
The U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) announced a settlement yesterday with a U.S.-based company Alfa Laval Inc. (“Alfa Laval U.S.”) and a Dubai-based affiliate company Alfa Laval Middle East Ltd. (“Alfa Laval Middle East”)…
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