International sanctions and export control
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International sanctions and export control
2020
US amends North Korean Sanctions Regulations, imposes secondary sanctions
Last week, the US Department of the Treasury's Office of Foreign Assets Control amended the North Korea Sanctions Regulations (31 CFR part 510, "the Regulations"). The revised Regulations implement the Treasury-administered provisions of the North Korea Sanctions and Policy Enhancement Act as amended by Countering America's Adversaries Through Sanctions Act and the National Defense Authorization Act for Fiscal Year 2020. The amendments include certain secondary sanctions, and took effect on 10 April 2020.
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International sanctions and export control
2019
New US sanctions target Russia for use of chemical weapons
The US has imposed new sanctions against Russia for its use of chemical weapons.
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International sanctions and export control
2020
US imposes secondary sanctions over Nord Stream 2
US imposes secondary sanctions over the Nord Stream 2 pipeline in Europe, currently under construction led by Russian state company Gazprom. The intention is to stop completion of the pipeline.
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International sanctions and export control
2019
New US (and potential EU) sanctions on Turkey
Turkey's military offensive in north-east Syria has led to new US primary and secondary sanctions from the US and announcements of potential future sanctions from the EU.
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International sanctions and export control
2019
OFAC announces changes in sanctions rules on Cuba
In previous Sanctions Alerts, we have discussed the Trump administration's shift in its sanctions policy against Cuba. Last week, the Department of the Treasury's Office of Foreign Assets Control (OFAC) took additional steps intended to financially isolate the Cuban government.
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International sanctions and export control
2019
Update: US sanctions on Cuba
Multiple lawsuits filed under Libertad Act
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International sanctions and export control
2019
Sanctions update regarding Iran
On 24 June 2019, President Trump announced another set of sanctions targeting Iran.
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International sanctions and export control
2019
Development in US sanctions relating to Venezuela
On 17 April 2019, OFAC designated Banco Central de Venezuela under Executive Order 13850, as amended, for operating within the Venezuelan economy. At the outset, this means that all dealings involving Banco Central de Venezuela, or entities owned 50 % or more by this bank, are prohibited if subject to US jurisdiction.
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International sanctions and export control
2019
US warns of potential sanctions relating to INSTEX and of sanctions on Iranian oil
US warns of potential secondary sanctions on INSTEX
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International sanctions and export control
2019
US renews legal basis for sanctions against Iran
On 12 March 2019, the US renewed the legal basis for its sanctions against Iran.
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2019
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International sanctions and export control
2019
US issues updated General License 7A in relation to sanctions against Venezuela
Last week, we informed that OFAC had issued General Licences 3D and 9C relating to certain Venezuelan bonds and Petroleos de Venezuela S.A. ("PdVSA") securities. Yesterday, OFAC issued yet another General Licence relating to US sanctions against Venezuela.
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International sanctions and export control
2019
Updated General Licenses in relation to the US Sanctions against Venezuela
Previously, the US President has issued various Executive Orders ("EO"s) to stop the human rights abuses and antidemocratic actions of the regime of Venezuelan President Nicolas Maduro. Various General Licenses, issued by OFAC, do however provide exemptions from the EO provisions in order to minimize the impact on the Venezuelan people and US interests.
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International sanctions and export control
2018
EU renews its Russia sectoral sanctions
On 21 December 2018, the EU decided to extend its Russia-related sectoral sanctions and export controls for another six months, until 31 July 2019.
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International sanctions and export control
2018
New US sanctions against Nicaragua
On 20 December 2018, President Trump signed into law the Nicaragua Human Rights and Anticorruption Act of 2018. Being quite limited in scope, the Act instructs the US to oppose international loans and financial or technical assistance to the Nicaraguan government for projects in Nicaragua, unless the loans are sought for the purposes of addressing basic human needs or promoting democracy in Nicaragua.
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International sanctions and export control
2018
EU lifts Eritrea sanctions
On the 10th of December, the EU terminated its sanctions regime against Eritrea.
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International sanctions and export control
2018
Norway lifts Eritrea sanctions
Earlier this month, we informed that the UN has lifted its sanctions against Eritrea after nine years as a consequence of the improved political and military situation in the country.
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International sanctions and export control
2018
UN lifts Eritrea sanctions
On 14 November 2018, the UN Security Council adopted resolution 2444 (2018) terminating all UN restrictive measures against Eritrea with immediate effect.