International Emergency Economic Powers Act Archives

Trump Makes Quick Moves on Sanctions (and Export Control Policy)

January 21, 2025 By Kerry B. Contini (USA) and Alexandre (Alex) Lamy (USA) 3 Mins Read

Shortly after taking the oath of office today, newly inaugurated President Trump signed a flurry of Executive Orders (“EOs”) and other executive actions. This include several actions related to US sanctions and export controls. Authority to Designate Cartels as Foreign Terrorist Organizations or Specially Designated Global Terrorists Trump signed an EO Designating Cartels and Other Organizations as Foreign Terrorist Organizations and Specially Designated Global Terrorists. This EO creates a legal authority to designate certain international…

Annual Increase in Civil Monetary Penalties for OFAC, State, Commerce, and DOE

January 23, 2023 By Sylwia Lis (USA) and Eunkyung Kim Shin (USA) 4 Mins Read

The US Department of the Treasury’s Office of Foreign Assets Control (“OFAC”), the US Department of State (“State”), the US Department of Commerce (“Commerce”), and the US Department of Energy (“DOE”) issued rules adjusting maximum civil monetary penalties (“CMPs”) under the Federal Civil Penalties Inflation Adjustment Act Improvements Act of 2015, as outlined below. (For additional years of CMPs, see our previous blog post available here.) OFAC CMP Adjustments Under OFAC’s final rule issued on January 13,…

US Government Sanctions More than 100 Russia-Related Parties and Prohibits the Import of Russian Gold in Coordination with G7 Allies

July 1, 2022 By Alexandre (Alex) Lamy (USA), Taylor Parker (USA), Kerry B. Contini (USA) and Caroline Howard 9 Mins Read

On June 27, 2022, President Biden and the other G7 leaders issued a statement on support for Ukraine (“G7 Statement”), in which they vowed to sustain and intensify their coordinated sanctions measures in response to Russia’s war of aggression. The corresponding White House Announcement outlines the actions the Biden Administration planned to take in coordination with the G7, including additional sanctions measures. The following day, the US Treasury Department’s Office of Foreign Assets Control (“OFAC”)…

US Government Imposes Additional Financial Sanctions on Russia, Targeting Several Russian Banks and Russian Sovereign Debt

February 23, 2022 By Alexandre (Alex) Lamy (USA), Taylor Parker (USA), Alison J. Stafford Powell (USA) and Meghan Hamilton (USA) 6 Mins Read

On February 22, 2022, the US Government issued a number of additional sanctions measures against Russia in response to President Putin’s recognition of the independence of the “so-called Donetsk People’s Republic (DNR) and Luhansk People’s Republic in Ukraine (LNR)” and his request to deploy forces to those regions – with President Biden characterizing these developments as “the beginning of a Russian invasion of Ukraine.” The new US sanctions measures build on the comprehensive region-wide sanctions…