Trade and Manufacturing Monitor
New OFAC designations signal continued U.S. sanctions pressure on Russia
Last week, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) blacklisted 21 individuals and nine entities for various reasons, including involvement in the ongoing conflict in eastern…
Going to Get Paid in Venezuelan Cryptocurrency? Not so fast.
In December last year, Venezuelan President Nicolas Maduro announced that Venezuela would launch a cryptocurrency called “Petro” in an effort to ease the country’s serious economic woes and avoid U.S. sanctions. Maduro…
Trump Waives Secondary Sanctions on Iran, But Vows Not to do so Again Without Changes to the JCPOA
Last week the President begrudgingly extended waivers continuing to lift U.S. “secondary sanctions” on Iran. But the President also insisted that he will not issue further extensions without a renegotiation of certain…
U.S. Implements Global Magnitsky Sanctions Targeting Corruption and Human Rights Abuses Worldwide
On December 20, 2017, the President issued Executive Order 13818 implementing new sanctions against human rights abusers and persons involved in corruption pursuant to the Global Magnitsky Human Rights Accountability…
Distributor danger: OFAC case highlights sanctions liability for bad acts by distributors and foreign subsidiaries
Many companies supply goods and services through third party distributors. When well-structured, the use of distributors can shift some of the cost and compliance risk of selling products outside of your home…