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Jan 18, 2025 | 
sanctionsnews.bakermckenzie.com | Kerry Contini
The Biden Administration issued another round of sanctions against Russia in its final days, with less than a week left in the Administration. This followed on the heels of major sanctions imposed by OFAC on Russia’s energy sector just five days prior – see our blog post on that development here.
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Nov 27, 2024 | 
sanctionsnews.bakermckenzie.com | Lise S. Test |Vivian Tse |Rob O'Brien |Kerry Contini
On November 21, 2024, the US Department of the Treasury‚Äôs Office of Foreign Assets Control (‚ÄúOFAC‚ÄĚ) designated dozens of Russian banks, including Gazprombank and other Russian banks, securities registrars, and finance officials, to the List of Specially Designated Nationals and Blocked Persons (‚ÄúSDN List‚ÄĚ).
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Nov 26, 2024 | 
sanctionsnews.bakermckenzie.com | Kerry Contini |Ben Smith |Kelvin Hong |Tatiana Kalaji
In October 2024, the United States Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) and the United Kingdom’s Office of Financial Sanctions Implementation (“OFSI”) celebrated the second anniversary of their Enhanced Partnership. This collaboration, initiated in response to the increasingly complex geopolitical landscape, aims to bolster the effectiveness of sanctions as a global tool for national security.
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Nov 22, 2024 | 
sanctionsnews.bakermckenzie.com | Kerry Contini |Alexandre Lamy |Michael Amberg |Rob O'Brien
On October 30, 2024, the US Government imposed sanctions on hundreds of entities and individuals across the globe, primarily in response to Russia’s continued war in Ukraine, and amended US export controls related to Russia and Belarus. Below, we describe the key actions taken by the US Departments of the Treasury, State, and Commerce. 1.
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Nov 22, 2024 | 
sanctionsnews.bakermckenzie.com | Kerry Contini |Alexandre Lamy |Michael Amberg
On October 30, 2024, the US Government imposed sanctions on hundreds of entities and individuals across the globe, primarily in response to Russia’s continued war in Ukraine, and amended US export controls related to Russia and Belarus. Below, we describe the key actions taken by the US Departments of the Treasury, State, and Commerce.
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Sep 11, 2024 | 
sanctionsnews.bakermckenzie.com | Kerry Contini
Join Baker McKenzie and the Customs and International Trade Bar Association (CITBA) National Security and Sanctions Committee for a discussion of top enforcement priorities in sanctions and export controls, best practices for the private sector, and considerations for voluntary self-disclosure. The panelists for this discussion include Ian C.
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Sep 6, 2024 | 
sanctionsnews.bakermckenzie.com | Kerry Contini |Lise S. Test |Rob O'Brien
On August 23, 2024, the eve of Ukraine’s Independence Day (August 24, 2024), the US Departments of Commerce and Treasury issued new export controls and sanctions in response to Russia’s invasion of Ukraine. The new controls target the procurement networks who support Russia’s war on Ukraine and its military industrial complex and payment channels.
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Jul 23, 2024 | 
sanctionsnews.bakermckenzie.com | Kerry Contini |Terence Gilroy
On July 23, 2024, the Office of Foreign Assets Control (“OFAC”) in the US Treasury Department announced that it was publishing a notice requiring financial institutions holding Russian sovereign assets to report those assets to OFAC no later than August 2, 2024 or within 10 days of the detection of such assets.
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Jun 4, 2024 | 
sanctionsnews.bakermckenzie.com | Janet Kim |Kerry Contini |Daniel Andreeff |Xin Tao
Bipartisan legislation advancing in the U.S. Senate and the U.S. House of Representatives known as the “BIOSECURE Act” (“the Act”) has the potential to significantly restrict the ability of biotechnology companies to collaborate with certain Chinese companies without losing the ability to contract with the U.S. government.
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May 16, 2024 | 
sanctionsnews.bakermckenzie.com | Kerry Contini
Earlier this month, as reported on our blog, the Turkish Ministry of Trade announced a complete export and import ban targeting Israel. This week, the Office of Antiboycott Compliance in the Bureau of Industry and Security at the US Commerce Department published an “Antiboycott Advisory on Türkiye”.
