On October 6, 2017, the US Government announced that it will revoke certain sanctions with respect to Sudan and the Government of Sudan, effective October 12, 2017. As a result of the revocation, US Persons will no longer be prohibited from engaging in Sudan-related transactions that were previously prohibited under the Sudanese Sanctions Regulations (“SSR”), including dealings with the Government of Sudan, and the SSR will be removed from the US Code of Federal Regulations.
On Thursday, December 31, 2015, the US Treasury Department’s Office of Foreign Assets Control (“OFAC”) issued the Cyber-Related Sanctions Regulations, 31 C.F.R. Part 578 (“Regulations”), which implement Executive Order 13694 of April 1, 2015 (“Blocking the Property of Certain Persons Engaging in Significant Malicious Cyber-Enabled Activities” or the “Cyber EO”). Our prior blog post on the Cyber EO is available here. The Regulations implement the restrictions on transactions involving parties designated as Specially Designated Nationals (“SDNs”) under the Cyber…