According to a January 19 press release, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) “designated three individuals, fourteen entities, and six vessels for their ties to a network attempting to evade United States sanctions on Venezuela’s oil sector.” According to OFAC, the Maduro regime is continuing to use “Petroleos
OFAC Issues Fact Sheet Regarding Humanitarian Trade Involving Sanctioned Countries and Provides COVID-19 Guidance
In response to criticism that sanctions are hampering the global response to the COVID-19 pandemic, the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) has released new guidance to encourage those interested in humanitarian trade involving jurisdictions sanctioned by the United States to “avail themselves of longstanding exemptions, exceptions, and authorizations” pertaining to that
Congress Passes New Russia and Venezuela Sanctions and Advances New Russia & Turkey Sanctions
Dec.27.2019
As 2019 draws to an end, Congress has been busy on economic sanctions legislation. This includes passing new Russia-related sanctions and a Venezuela-related government contracts procurement restriction as part of the National Defense Authorization Act for Fiscal Year 2020 (NDAA 2020). The U.S. Senate Foreign Relations Committee has also approved two new pieces of
Latin America Regional Recap: January and February
Crowell & Moring’s Latin America Practice publishes a Regional Recap each month to highlight some of the most relevant news and trends from the region impacting international trade and investment.
To learn more about each issue, please click on the hyperlink below.
PROSUR: Chile to Host First Summit for New South American Union Next Month
Following Colombia’s official withdrawal from the intergovernmental regional organization UNASUR (Union of South American Nations), Colombian President Iván Duque announced on January 14 the creation of a new union called PROSUR. President Duque explained that PROSUR would function as an organization for regional coordination and cooperation of public policy, defense of democracy, promotion of the