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Limited US Sanctions Relief after Historic Myanmar Elections
  • Steptoe & Johnson LLP
  • USA
  • May 19 2016

On May 17, 2016, the US Department of the Treasury's Office of Foreign Assets Control (OFAC) announced its long-awaited changes to US sanctions on


Lessons From A Rare Reporting Action Against MasterCard
  • Steptoe & Johnson LLP
  • USA
  • March 31 2016

On March 16, 2016, the US Department of the Treasury's Office of Foreign Assets Control issued a Finding of Violation to MasterCard International Inc


OFAC Brings Rare Reporting Enforcement Action Against MasterCard
  • Steptoe & Johnson LLP
  • USA
  • March 29 2016

On March 16, 2016, the US Department of the Treasury's Office of Foreign Assets Control (OFAC) issued a Finding of Violation to MasterCard


Treasury Announces Significant Revisions to Cuba Sanctions Regulations
  • Steptoe & Johnson LLP
  • Cuba, USA
  • March 15 2016

Today, the Department of the Treasury’s Office of Foreign Asset Control announced significant amendments to the Cuban Assets Control Regulations


European Court of Justice Rules in Favor of Bank Mellat
  • Steptoe & Johnson LLP
  • European Union
  • March 3 2016

On February 18, 2016, the Fifth Chamber of the European Court of Justice (ECJ) rendered a judgment in the matter of Council of the European Union v


OFAC Penalizes Barclays for Zimbabwe Sanctions Violations
  • Steptoe & Johnson LLP
  • USA
  • February 23 2016

On February 8, 2016, the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) announced a $2,485,890 settlement with Barclays


Obama Signs Hizballah Sanctions Law Targeting Foreign Banks
  • Steptoe & Johnson LLP
  • Middle East, USA
  • December 23 2015

On December 18, 2015, President Barack Obama signed into law the Hizballah International Financing Prevention Act of 2015 (HR 2297), which authorizes


Could proper documentation have saved NY bank from OFAC?
  • Steptoe & Johnson LLP
  • Iran, USA
  • December 3 2015

On Nov. 4, 2015, the Office of Foreign Assets Controls of the US Department of the Treasury announced that Banco do Brasil SA, New York Branch (BBNY


Sen. Hatch to convene hearing on OECD BEPS reports, EU State Aid investigations
  • Steptoe & Johnson LLP
  • European Union, Global, OECD
  • November 24 2015

Today, Senate Finance Committee Chairman Orrin Hatch (R-UT) announced that the Senate Finance Committee will hold a hearing on December 1, to examine


Crédit Agricole settles sanctions allegations: risks to multinational banks remains high
  • Steptoe & Johnson LLP
  • USA
  • November 12 2015

On October 20, 2015, US federal and New York state authorities announced that they had each reached an agreement with France's Crédit Agricole