Tagged: OFAC Russia Sanctions

Interpreting OFAC Sanctions: The Fine Line Between Compliance and Evasion

Matt Stankiewicz, Partner at The Volkov Law Group, joins us for a posting on compliance with OFAC Sanctions. Matt can be reached at [email protected] Unsurprisingly, we’ve been fielding a significant number of inquiries regarding the latest Russian sanctions.  Most companies seek black and white answers – what can we do and what can’t we do.  However, sanctions are very rarely, if ever, that black and...

OFAC Issues New Sanctions Against Russia’s Central Bank and Sovereign Wealth Funds

In a significant step designed to increase financial pressure on Russia in response to its invasion of Ukraine, the Department of Treasury’s Office of Foreign Asset Control (“OFAC”) issued new sanctions to prohibited United States persons from engaging the Central Bank of the Russia, the National Wealth Fund of Russia, and the Ministry of Finance.  In effect, the new sanctions freeze all Central Bank assets...

President Biden Announces Broad Coordinated Set of Sanctions and Export Controls Against Russia

The Biden Administration announced a robust set of trade sanctions and export controls against Russia in response to the Russian invasion of Ukraine.  The Treasury Department’s Office of Foreign Asset Control (“OFAC”) and the Department of Commerce’s Bureau of Industry and Security (“BIS”) issued broad sanctions and export controls respectively, designed to impose severe economic costs on Russia.  The United States, along with its Allies,...

Biden Administration Ratchets Up Russia Sanctions

The Biden Administration announced new and significant trade sanctions against Russia.  The action was long expected given the Biden Administration’s criticism of Russia, and was a comprehensive response to Russia’s interference in the 2020 US election, its SolarWinds cyberattack and its ongoing occupation of Crimea and threatening addition of troops along the Ukraine border. President Biden issued a new Executive Order, No. 13848, Targeting the...

Episode 190 — Catching Up on Russia and Burma Sanctions Programs

Last week, the Biden Administration announced new and significant trade sanctions against Russia. The action was long expected given the Biden Administration’s criticism of Russia, and was a comprehensive response to Russia’s interference in the 2020 US election, its SolarWinds cyberattack and its ongoing occupation of Crimea and threatening addition of troops along the Ukraine border. Over the last few months, OFAC has ratcheted up sanctions against...