Mahmoud Baki Fadlallah

May 21, 2024 | jdsupra.com | Mahmoud Baki Fadlallah |Ryan Fayhee |Nnedinma Ifudu Nweke

Key Points On May 10, 2024, OFAC issued an IFR that would amend its Reporting, Procedures and Penalties Regulations (RPPR) at 31 C.F.R. Part 501 to, among other things, modify certain reporting requirements pertaining to blocked property and rejected transactions. Subject to any changes OFAC may make following a 30-day comment period, the proposed changes will become effective on August 8, 2024.

May 7, 2024 | mondaq.com | Mahmoud Baki Fadlallah |Ryan Fayhee |Alexis Guinan |Jonathan Poling

On April 24, 2024, President Biden signed into law H.R. 815, a significant foreign aid legislative package that also included the 21st Century Peace Through Strength Act (the Act), a bill introduced in the House that includes multiple U.S. sanctions-related provisions.

Apr 26, 2024 | mondaq.com | Mahmoud Baki Fadlallah |Alexis Guinan |Jonathan Poling |Melissa Schwartz

On April 17, 2024, based on a determination by the U.S. government that Nicolás Maduro and his representatives "have not fully met the commitments made" with respect to upcoming Venezuelan elections, the U.S. Department of the Treasury's OFAC replaced GL 44, which had previously authorized transactions related to oil or gas sector operations in Venezuela, with a limited wind-down authorization, provided in GL 44A.