Since we published our blog post on the relaxation of the Syria sanctions over the weekend, there have been two more related developments this week: (1) US guidance on the Syria sanctions relaxed on Friday, May 23, and (2) the EUās move to formally lift nearly all of its remaining sanctions on Syria. United States: Guidance on Syria Sanctions Relaxation On Wednesday, May 28, the Office of Foreign Assets Control (āOFACā) in the US Treasury…
In less than two weeks, we have seen Syria go from one of the most heavily sanctioned countries on the planet to a country well on the road to establishing normal trade relations with the Western world. The latest flurry of developments started on May 13, 2025, when President Trump caught much of the world by surprise when he said in a speech in Riyadh: āI will be ordering the cessation of sanctions against Syria…
On April 16, 2025, the US Treasury Department’s Office of Foreign Assets Control (“OFAC”) re-issued and updated its Advisory for Shipping and Maritime Stakeholders on Detecting and Mitigating Iranian Oil Sanctions Evasion (“the Advisory”), originally issued in September 2019. The updated Advisory is part of OFAC’s implementation of the February 4, 2025 National Security Presidential Memorandum (NSPM-2), which directs the Treasury Department to enact “maximum pressure” on Iran. The Advisory expands on the red flags…
On April 11, 2025, the US Department of Justice National Security Division (āDOJā) took steps to implement its December 2024 Final Rule on Protecting Americansā Sensitive Data from Foreign Adversaries (āFinal Ruleā). Specifically, the DOJ issued answers to more than 100 Frequently Asked Questions (āFAQsā), published a Compliance Guide, and issued a Limited Enforcement Policy for the first 90 days of the Final Rule. This Baker McKenzie Client Alert outlines key points regarding the FAQs,…