Tagged: cuba sanctions

JP Morgan Chase Bank Settles “Old” Sanctions Case for $5 Million

The Treasury Department’s Office of Foreign Asset Control (“OFAC”) announced its third enforcement action for 2018.  While OFAC has been busy with implementing new sanctions regimes and re-imposing the Iran sanctions regime, OFAC is beginning to clear some of the enforcement matters that have been pending. JP Morgan Chase agreed to a $5.2 million settlement with OFAC for 87 apparent violations from the processing of...

Sanctions Updates: Cuba, North Korea, Russia, Sudan, Venezuela

Sanctions compliance is challenging because of the changing nature of sanctions regulations and individuals identified as Specially Designated Nationals. With each new administration, foreign policy priorities are usually played out in a variety of sanctions regimes and policies. This year, however, saw Congress enter the regulatory fray, when it imposed detailed regulatory requirements and procedures designed to constrain the current administration from making major changes...

Sanctions Updates: Iran, Myanmar (Burma) and Cuba

With the rise of OFAC Sanctions enforcement and compliance issues, companies have to devote significant resources to following changes in OFAC Sanctions. Over the last few years, the US government has significantly altered the sanctions landscape with the Iran Nuclear Treaty, and major changes in its relationship with Cuba and Myanmar (Burma). Since the major changes have been announced or implemented, there have been continuing...

Cuba and Iran Export Compliance

I recently published an article on Trade Ready concerning export compliance and recent sanctions developments in Cuba and Iran.  A link to the article is here. Thanks for your continued support.