The U.S. is making greater use of economic and trade sanctions as tools of foreign policy, extending their reach to more targets around the world ... creating new compliance pitfalls for companies that do business on a global basis. The U.S. is leaning in on economic...
OFAC and BIS rule changes reverse some – but not all – liberalized polices on travel and trade with Cuba; the Cuba Restricted List lengthens. Treasury Dept.’s Office of Foreign Assets Control (OFAC) has announced that the Cuban Assets Control Regulations will be...
President Trump’s executive order authorizes the Treasury Dept. to enforce economic sanctions against foreign companies, financial institutions and individuals that do business with North Korea. A new executive order signed Thursday by President Trump significantly...
Thirteen current and former government officials in Venezuela are designated for sanctions that freeze their U.S. assets and bar U.S. persons from doing business with them. The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has added 13...
by Peter Quinter, guest columnist It has been a year since President Obama issued Executive Order 13660, entitled “Blocking Property of Certain Persons Contributing to the Situation in Ukraine,” and opened an economic front in the international dispute with Russia...
New names, new priorities at the Bureau of Industry and Security by Peter Quinter, guest columnist Earlier this spring, David Mills, the new Assistant Secretary for Export Enforcement, Bureau of Industry and Security (BIS), US Department of Commerce, and his Special...
Got a notice letter from the federal government? Get a lawyer. by Peter Quinter, guest columnist Every year, the numerous agencies of the US government send out letters to companies putting them on notice that the company is suspected of committing some serious...
Maersk pays $3 million for trading with Iran and Sudan By Peter Quinter, guest columnist Maersk Line, Ltd. paid the U.S. Office of Foreign Assets Control (OFAC) $3 million to settle allegations of violations of the U.S. trade embargo with Sudan and Iran that Maersk...
