Sanctions

Subscribe to Sanctions via RSS

On January 19, 2021, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) sanctioned and placed on the Specially Designated Nationals (SDN) List three individuals, fourteen entities, and six vessels for their involvement in a network attempting to evade U.S. sanctions on Venezuela’s oil sector.  According to a press release, the “illegitimate…

On January 15, 2021, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) published in the Federal Register final regulations to implement a July 14, 2020 Hong Kong-related Executive Order. In Executive Order 13936, President Donald Trump determined that Hong Kong was no longer sufficiently autonomous from the People’s Republic of China…

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…

On December 23, 2020, the Department of Commerce’s Bureau of Industry and Security (BIS) published a final rule in the Federal Register that removes Hong Kong as a “separate destination” under the Export Administration Regulations (EAR). This rule follows U.S. Secretary of State Michael Pompeo’s May 2020 announcement that Hong Kong no longer warrants treatment…

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 11, 2020, the Treasury Department submitted its first report to Congress under the Hong Kong Autonomy Act, stating that to date it has not identified any foreign financial institutions (FFIs) that have knowingly conducted a significant transaction with an identified foreign person under the Hong Kong Autonomy Act (HKAA). The Department of…

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…