Tagged: Venezuela Sanctions

Banco Popular de Puerto Rico Settles with OFAC for $255,937 for Violations of Venezuela Sanctions Program

The Treasury Department’s Office of Foreign Asset Control (“OFAC”) is a busy enforcement agency.  OFAC has implemented the comprehensive Russia Sanctions Program in response to Russia’s invasion of the Ukraine.  The scope and pace of this process has been unprecedented.  Along the way, OFAC is continuing a steady pace of sanctions enforcement actions.  In a recent action, Banco Popular de Puerto Rico (“Banco Popular”), a...

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...