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…
U.S. Sanctions Regulations Blog
Tracking Developments in U.S. and other International Sanctions Regulations
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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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BIS Adds Four Burmese Companies to the Entity List
The U.S. Department of Commerce’s Bureau of Industry & Security today issued a Final Rule, published in the Federal Register, adding four Burmese companies onto its Entity List. This move was in furtherance of Executive Order 14014 (February 12, 2021),…
OFAC’s $4.1 Million Penalty on Berkshire Hathaway Subsidiary: Why it Matters
The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) today announced it was imposing a $4.1 million penalty against Nebraska-based Berkshire Hathaway Inc. for illicit transactions by its Turkish subsidiary Iscar Kesici Takim Ticareti ve Imalati Limited…
Are Friendships Subject to Sanctions?
In an interesting OFAC Enforcement Release issued this week, the agency announced that an individual formerly working for the U.S. Army was fined for engaging in transactions with a foreign person designated as a Specially Designated National (SDN). Specifically, a…
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U.S. Government Issues Xinjiang Supply Chain Advisory
On July 1, the U.S. Departments of State, the Treasury, Commerce, and Homeland Security issued a detailed advisory. This is in response to the various types of regulatory exposure companies could face when dealing with suppliers and vendors in China’s…
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