On November 2, 2023, the United States government issued new Russia-related sanctions targeting more than 200 individuals and entities. OFAC also issued three new Russia-related General Licenses and reissued another one, and the US Department of Commerce Bureau of Industry and Security (âBISâ) added 13 entities to the Entity List. SDN Designations The US Department of the Treasury Office of Foreign Assets Control (âOFACâ) and the US Department of State added a range of targeted…
On October 18, 2023, the US Departments of Commerce, State, Treasury, and Justice issued the Iran Ballistic Missile Procurement Advisory (the âAdvisoryâ) to alert persons and businesses to Iranâs ballistic missile procurement activities. The Departments of State and Justice also issued separate statements related to the Advisory. The Advisory and related statements underscore the US Governmentâs concerns about Iranâs ballistic missile program and its efforts to stymie that program. In addition, the US Government and…
On August 23, 2023, the US Treasury Departmentâs Office of Foreign Assets Control (“OFAC”) issued the first Determination Pursuant to Section 1(a)(i) of Executive Order (“EO”) 14014 (the “Determination”), which extends the application of section 1(a)(i) of EO 14014 to the jet fuel sector of the Burmese economy. On the same day, OFAC also published two related Frequently Asked Questions (“FAQs”): FAQ 1132 and FAQ 1133. Our blog post on the issuance of EO 14014…
On June 27, 2023, the US Departments of State, the Treasury, Labor, Commerce, and Homeland Security, and the United States Agency for International Development issued a joint advisory — the Africa Gold Advisory (“Advisory”) — that (i) highlights the opportunities and specific risks raised by the gold trade across sub-Saharan Africa and (ii) encourages industry participants to adopt and apply strengthened due diligence practices to guard against such risks. The Advisory states that it was…