Office of Foreign Assets Control (OFAC)

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Russia Sanctions:  The UK designated 63 individuals this week, including several war correspondents embedded with Russian forces in Ukraine that work at Channel One, a major state-owned media outlet in Russia.  The UK also designated one entity, Evraz PLC, a UK-incorporated holding company of a multinational steel manufacturing and mining company group.  Additionally, the…

Russia Sanctions:  There were limited developments this week.  There has been speculation that the EU would release its sixth round of sanctions against Russia, but no updates have been reported thus far.  The new package of sanctions is still expected soon.  The U.S. and UK also did not expand their list of designations this…

Russia Sanctions:  Last Friday, the U.S. (BIS) added a number of entities to the Entity List citing their support of the Russian and Belarusian militaries.  Over the April 1 weekend, the world began to learn of the atrocities in Bucha.  The U.S., UK, and EU have since responded with a number of new sanctions…

Russia Sanctions:  As the war enters its fifth week, the U.S. and UK continue to expand the restrictions and add to the list of designated individuals and entities.  Relative to sanctions and other prohibitions previously announced, there were few developments over the past week, but additional targeted sanctions may be forthcoming should the Russian…

President Joseph Biden formally announced via Executive Order that the following Russian-origin goods will no longer be permitted importation into the U.S. customs territory:

  • Fish, seafood, and preparations thereof;
  • Alcoholic beverages;
  • Non-industrial diamonds; and
  • Any other products of Russian Federation-origin as may be determined by the Secretary of the Treasury, in consultation with the Secretary

…

Russia Sanctions:  The U.S., EU, and UK continue to apply pressure on Russia through new sanctions on oligarchs and politicians and restrictions on exports.  A number of other countries have implemented similar measures and continue to widen the scope of such prohibitions as the invasion continues.  On a more limited scale, Belarus has also…

Friday, March 11, 2022 – Today, United States President Joseph Biden formally announced via Executive Order that the following Russian-origin goods will no longer be permitted importation into the U.S. customs territory:

  • Fish, seafood, and preparations thereof;
  • Alcoholic beverages;
  • Non-industrial diamonds; and
  • Any other products of Russian Federation-origin as may be determined by the Secretary

…

The American Conference Institute is hosting a Virtual AML & OFAC Conference for the Insurance Industry from January 19-20, 2022.

On January 19, 2022 at 12:30pm, Nicole Sayegh Succar, Counsel in Crowell & Moring’s New York Office, will be speaking on a panel with Matthew Saint, Group AML Officer/Deputy Group Chief Financial Crime Officer of…

On December 16, 2021, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) added eight Chinese entities to its Non-SDN Chinese Military-Industrial Complex Companies (NS-CMIC) list for “actively support[ing] the biometric surveillance and tracking of ethnic and religious minorities in China, particularly the predominantly Muslim Uyghur minority in Xinjiang.” As such, U.S. persons…

On December 2, 2021, the United States, the European Union (“EU”), the United Kingdom (“UK”) and other allies took coordinated action to designate various individuals, entities, and aircraft connected to human rights abuses by Belarussian President Alexander Lukashenko and his regime. This builds on asset freezing actions by the U.S., UK, EU, and Canada earlier…