Trade and Manufacturing Monitor
Sanctions Penalties Tick Up Again
Penalties for violations of sanctions rules administered by the Office of Foreign Assets Control (OFAC) ticked up again yesterday. Most violations of OFAC’s rules now face statutory penalties of $295,141 or twice the…
Trump makes it official: Venezuelan digital currency is subject to sanctions
The President signed a new Executive Order today making it unlawful to engage in transactions involving digital currency issued by the Venezuelan government. The Executive Order makes official prior guidance from the…
The U.S. sanctions Russian trolls and threatens future measures against Russian officials and oligarchs
Yesterday, the U.S. Office of Foreign Assets Control (OFAC) blacklisted 14 new Russian individuals and the Internet Research Agency as Specially Designated Nationals (SDNs) for their role interfering with the 2016 U.S.…
Gil Kaplan Confirmed as Undersecretary of Commerce for International Trade
Yesterday evening, the Senate confirmed Gilbert Kaplan to serve as Undersecretary of Commerce for International Trade, after his April 2017 nomination and September 2017 confirmation hearing. In this position, Mr.…
New North Korea Sanctions Regulations Become Effective Today
The Office of Foreign Assets Control (OFAC)’s new North Korea Sanctions Regulations become effective today. In addition to making certain technical and conforming changes, the newly updated Part 510 incorporates recent…