On February 3, 2026, the US Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) issued new General License No. 47 (“GL 47”) authorizing transactions related to the exportation/reexportation of US-origin diluents (i.e., diluting agents used to reduce viscosity of fluids, e.g., for use in crude oil pipelines) to Venezuela that would otherwise be prohibited under the Venezuela Sanctions Regulations, 31 C.F.R. Part 591. You can find our blog posts about developments under US…
Baker McKenzie’s Global Trade Team is pleased to invite you to our 2026 Global Trade and Customs Webinar Series. This series includes a variety of sessions spread throughout the year, addressing the latest developments in trade and customs compliance. In these sessions, our panel of international trade and customs experts will discuss key trends and topics including customs, sanctions, export controls and trade remedies developments across regions. Click here for more information and to register.
On December 15, 2025, the US Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) has issued Belarus General License 13 (“GL 13”), “Authorizing Transactions Involving Joint Stock Company Belarusian Potash Company, Agrorozkvit LLC, and Belaruskali OAO.” GL 13 authorizes all transactions involving the following entities that are otherwise prohibited by the Belarus Sanctions Regulations (“BSR”): GL 13 does not authorize the unblocking of any blocked property or any transactions involving any other blocked persons…
The US Department of State has issued a final rule amending the International Traffic in Arms Regulations (“ITAR”) at 22 CFR § 126.1 to remove the embargo on defense trade with Cambodia, following its announcement effective October 26, 2025 that it would review ITAR license applications for Cambodia on a case-by-case basis (see here and here). Cambodia had been subject to a US arms embargo since December 2021, as discussed in our previous blog post. …