On August 21, 2025, the European Union and United States unveiled their Framework on an Agreement on Reciprocal, Fair, and Balanced Trade (“Framework”). The Framework follows, and provides further detail to, the July announcement that the European Union and United States had agreed on broad terms of a trade deal. The Framework outlines the key terms of the trade deal that will be negotiated between the parties, and is a first step in a process…
On July 1, 2025, the Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) published the International Criminal Court-Related Sanctions Regulations to implement Executive Order (“EO”) 14203, “Imposing Sanctions on the International Criminal Court”, issued on February 6, 2025. EO 14023 authorized sanctions on foreign persons engaged in certain efforts by the International Criminal Court (“ICC”) to target the United States and Israel. EO 14023 In EO 14203, President Trump finds that the ICC…
On Friday, May 16, 2025, the US Treasury Department’s Office of Foreign Assets Control (“OFAC”) and Switzerland’s State Secretariat for Economic Affairs (“SECO”) issued a joint Memorandum of Understanding (“MOU”) in regard to the United States and Switzerland’s commitment to collaborate and share information related to sanctions and enforcement which was signed on May 9, 2025. The notice is published on OFAC’s website here. The MOU provides that information sharing between the United States and…
On March 4, 2025, the US Department of State announced the redesignation of Ansarallah (a political movement and militia group in Yemen also known as the Houthis) as a Foreign Terrorist Organization (“FTO”). The US Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) separately designated seven high-ranking members of Ansarallah as Specially Designated Nationals (“SDNs”) for smuggling weapons into Houthi-controlled areas of Yemen and negotiating weapons procurement from Russia. In addition, OFAC designated…