On Friday, January 13, the Obama Administration announced that sanctions against Sudan will be suspended (via issuance of a general license) on Tuesday, January 17. The President also issued an Executive Order eliminating the Sudan sanctions program in six months’ time, on July 12, 2017, if the Secretary of State (in consultation with the heads of other relevant agencies) certifies that the Government of Sudan has continued its positive actions in ending armed conflict in Sudan, improving humanitarian access, and cooperating in the fight against terrorism.

Continue Reading Obama Administration Announces Suspension and Planned Termination of Sudan Sanctions

On January 11, 2017, a bipartisan group of senators introduced a draft bill that, if adopted, would cement and significantly broaden U.S. sanctions relating to the Russian Federation and Ukraine. The authors have dubbed the bill the “Counteracting Russian Hostilities Act of 2017,”[1] but the scope of the bill goes well beyond recent allegations of cyber activities said to have targeted the U.S. presidential election. The bill appears to have broad support, but the position of the Senate Republican leadership is not yet clear, nor is that of the incoming Trump Administration. It is theoretically possible, though not likely, that the bill could be enacted during the last days of the Obama Administration. Amendments prior to enactment are also possible.

Continue Reading Bipartisan Group of Senators Introduces Draft Bill to Expand U.S. Sanctions against Russia

On October 7, 2016, the President issued a new Executive Order, “Termination of Emergency with Respect to the Actions and Policies of the Government of Burma,” which, together with related actions by the President, OFAC, and FinCEN, terminates U.S. sanctions against Myanmar. As a result:

• Sanctions against Myanmar (Burma) have been lifted;
• All property and interests in property previously blocked under the Burmese Sanctions Regulations are now unblocked;
• The Myanmar Specially Designated Nationals (“SDNs”) previously designated under the Burmese Sanctions Regulations have been removed from OFAC’s SDN List
• Correspondent account restrictions on banks in Myanmar under Section 311 of the USA PATRIOT Act are suspended; and
• Compliance with the U.S. Department of State’s Responsible Investment Reporting Requirements is now voluntary.

While the Burmese Sanctions Regulations are no longer in effect, please note that:

• All Myanmar SDNs designated under other OFAC sanctions authorities (e.g., counter-narcotics sanctions) will remain blocked; and
• The lifting of sanctions does not affect any pending or future OFAC enforcement action with respect to violations committed while the Burmese Sanctions Regulations were still in effect.

Recent developments in economic sanctions and export controls administered by the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) and the U.S. Department of Commerce’s Bureau of Industry and Security (“BIS”) provide for the incremental easing of sanctions in support of the President’s rapprochement with Cuba while responding to the growing threat from North Korea by imposing comprehensive sanctions. Section I of this memorandum addresses recent actions taken by BIS and OFAC to expand access to Cuba. Section II outlines the new restrictions on dealings with North Korea.

Continue Reading United States Ratchets Up North Korean Sanctions

I. Overview

On January 27, 2016, the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) released revised Cuban Assets Control Regulations (“CACR”) to continue implementing policy changes announced by President Obama on December 17, 2014[1] and initiated on January 16, 2015. In a coordinated action, the U.S. Department of Commerce’s Bureau of Industry and Security (“BIS”) issued a rule updating U.S. export controls to facilitate permitted activities.[2] These revisions follow prior amendments to the OFAC and BIS regulations regarding Cuba published on September 21, 2015. The revised regulations, effective January 27, 2016, continue to ease U.S. sanctions on Cuba. General travel and tourism in Cuba remain prohibited to persons acting within U.S. jurisdiction, as does most commercial and financial activity.

Continue Reading U.S. Continues Incremental Easing of Cuban Sanctions

On January 16, 2016, following a favorable report from the International Atomic Energy Agency, the P5+1 powers (the United States, United Kingdom, China, France, Russia, and Germany) and Iran declared that “Implementation Day” had occurred under the Joint Comprehensive Plan of Action (“JCPOA”), bringing into force agreed relief from sanctions against Iran.[1] The scope of relief was largely as expected, but the timing of the declaration was significantly earlier than unofficial estimates provided last year by U.S. officials.

Continue Reading Implementation of Sanctions Relief for Iran