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International Compliance blog Blog

Articles: 1-10 of 259

Treasury tightens remittances to Cuba and prohibits “U-turn” transactions

Cuba, USA - September 9 2019 Today the Treasury Department’s Office of Foreign Assets Control (“OFAC”) issued new restrictions on remittances and “U-turn” transactions to Cuba…

OFAC Issues regulations implementing Nicaragua sanctions

Nicaragua, USA - September 6 2019 On September 5, OFAC issued regulations to implement Executive Order (EO) 13851 related to the situation in Nicaragua. Signed on November 27, 2018…

New Round of Sanctions Block Government of Venezuela, Issue General Licenses

USA, Venezuela - August 8 2019 On August 5, President Trump issued Executive Order (EO) 13884 expanding sanctions in Venezuela by blocking the property of the Government of…

U.S. Sanctions Chinese Company for Buying Oil from Iran

China, Iran, USA - July 23 2019 On July 22, 2019, Secretary of State Mike Pompeo announced that the U.S. Government would impose sanctions on Chinese state-owned oil trading company…

Surprisingly Not Surprising China’s Announcement of “Unreliable Entities List” Regime

China, USA - June 3 2019 At a press conference on May 31, 2019, China’s Ministry of Commerce (MOFCOM) announced that China is going to establish an “unreliable entities list…

New EU Framework to Target Malicious Cyber-Attacks from Outside the Union

European Union - May 29 2019 On 17 May 2019, the Council of the EU established a framework against external cyber-attacks which constitute an external threat to the EU or its…

Commerce Department Catches Up with Export Controls on Venezuela

USA, Venezuela - May 24 2019 After months of escalating US economic sanctions on Venezuela and its international partners, the US Commerce Department’s Bureau of Industry and…

FinCEN Issues New Advisory on BSA/AML Obligations Related to Virtual Currency

USA - May 16 2019 On May 9, 2019, the US Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) published long-awaited guidance addressing how…

Sweeping New Metals Sector Sanctions on Iran with 90-Day Wind-Down Period

Iran, USA - May 9 2019 President Trump issued an Executive Order (EO) on May 8, 2019 imposing broad new sanctions against Iran’s Metals industries that go beyond…

New Jersey Software Company Settles with OFAC for Accepting Late Payments from Rosneft

USA - May 1 2019 On April 25, 2019, OFAC announced that Haverly Systems, Inc. (“Haverly”), a New Jersey software company, had agreed to pay $75,375 to settle apparent…