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The Department of the Treasury’s Office of Foreign Assets Control (OFAC) and the Department of State have announced further sanctions toward Iran by designating and placing on the Specially Designated Nationals (SDN) List a China-based supplier of graphite electrodes, 12 Iranian producers of steel and other metals products, three foreign-based sales agents of a major…

The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) announced that it has issued General License (GL) 5F (Authorizing Certain Transactions Related to the Petróleos de Venezuela, S.A. 2020 8.5 Percent Bond on or After July 21, 2021), which continues to delay U.S. persons’ ability to enforce bondholder rights to the CITGO…

On December 21, 2020, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) sanctioned three entities it has identified are controlled by the Cuban military and that have “strategic roles in the Cuban economy.” OFAC has placed the following three entities on the Specially Designated Nationals (SDN) List: (1) Grupo de Administración Empresarial…

On December 14, 2020, the State Department announced that the United States was rescinding Sudan’s designation as a State Sponsor of Terrorism. The brief statement indicated that this removal “represents a fundamental change in our bilateral relationship toward greater collaboration and support for Sudan’s historic democratic transition. This achievement was made possible by the efforts…

The Office of Foreign Assets Control (OFAC) has revised Iran-related frequently asked questions (FAQs) to clarify that the sanctions authorized against the Iranian construction, mining, manufacturing and textiles sectors, among others, will not target Iranian manufacturers of medicines, medical devices, or products used for sanitation or hygiene or as personal protective equipment, solely for use…

On November 30, 2020, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) sanctioned and placed on the Specially Designated Nationals (SDN) List China National Electronics Import and Export Corporation (CEIEC). The Treasury Department indicated in a press release that this designation was due to CEIEC’s support for “the illegitimate Maduro regime’s efforts…

On November 17, 2020, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) issued Venezuela-related General License 8G, “Authorizing Transactions Involving Petróleos de Venezuela, S.A. (PdVSA) Necessary for the Limited Maintenance of Essential Operations in Venezuela or the Wind Down of Operations in Venezuela for Certain Entities.”  This general license continues to…

On October 27, 2020, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) published a final rule in the Federal Register amending the Cuban Assets Control Regulations (CACR) to remove from the scope of generally authorized remittances any transactions involving “entities or subentities” identified on the U.S. Department of State’s Cuba Restricted…

On October 14, 2020, pursuant to the Hong Kong Autonomy Act (HKAA), the State Department submitted to Congress a report identifying foreign persons “who are materially contributing to, have materially contributed to, or attempt to materially contribute to the failure of the People’s Republic of China (China) to meet its obligations under the Sino-British Joint…