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Feb 11, 2025 | 
sanctionsnews.bakermckenzie.com | Paul Amberg |Alexandre Lamy |Rob O'Brien |William Logsdon
On February 6, 2025, the US State Department reversed the Biden Administration’s revocation of President Trump’s National Security Presidential Memorandum 5 of June 16, 2017 and recreated the Cuba Restricted List (“CRL” or “List“), which identifies entities and subentities that are controlled by, or acting on behalf of, the Cuban military, intelligence, or security services or personnel. The US State Department also added a Cuban remittance provider to the CRL, effective March 10, 2025.
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Jan 14, 2025 | 
sanctionsnews.bakermckenzie.com | Paul Amberg |Ben Smith |Lise S. Test |Sophie Armstrong
On 10 January 2025, the US Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) and the UK’s Office of Financial Sanctions Implementation (“OFSI”) announced the designations of two major Russian oil companies, PJSC Surgutneftegas and Gazprom Neft. The US and the UK have introduced new general licenses to permit limited activity relating to these entities, detailed further below.
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Dec 6, 2024 | 
sanctionsnews.bakermckenzie.com | Paul Amberg |Rob O'Brien
On December 2, 2024, the US Department of Commerce’s Bureau of Industry and Security (“BIS“) issued long anticipated and extensive new controls to impair China’s indigenous production of advanced semiconductors and other items that can be used in advanced weapon systems, AI, and advanced computing in support of China’s military-civil fusion program.
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Oct 23, 2024 | 
sanctionsnews.bakermckenzie.com | Paul Amberg |Daniel Andreeff
The US Department of the Treasury’s Office of Foreign Assets Controls (“OFAC”) has issued a final rule (“FR”) amending its Reporting, Procedures and Penalties Regulations (the “Regulations”), which will be effective on November 7, 2024. Our previous blog detailing OFAC’s prior interim final rule (“IFR”) for these amendments is available here. The FR will make only one amendment to the Regulations, which will expand the list of exclusions from OFAC’s blocked property reporting requirements.
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Sep 16, 2024 | 
sanctionsnews.bakermckenzie.com | Julian Godfray |Ben Smith |Paul Amberg
On 10 and 11 September 2024, the US, UK and France and Germany took coordinated action in response to Iran’s support for Russia’s war effort and, in particular, the supply of ballistic missiles by Iran to Russia for use in Ukraine. The measures announced include restrictions on Iran’s national airline, Iran Air, travel bans and asset freezes on Iranian individuals and organisations involved in ballistic missile and drone supply chains, and new Russian shipping sector sanctions.
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Sep 16, 2024 | 
lexology.com | Julian Godfray |Ben Smith |Paul Amberg
On 10 and 11 September 2024, the US, UK and France and Germany took coordinated action in response to Iran’s support for Russia’s war effort and, in particular, the supply of ballistic missiles by Iran to Russia for use in Ukraine. The measures announced include restrictions on Iran’s national airline, Iran Air, travel bans and asset freezes on Iranian individuals and organisations involved in ballistic missile and drone supply chains, and new Russian shipping sector sanctions.
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Aug 13, 2024 | 
sanctionsnews.bakermckenzie.com | Paul Amberg |Daniel Andreeff |Michael Amberg
The US Department of Commerce’s Bureau of Industry and Security (“BIS”) has issued two proposed rules amending the Export Administration Regulations (“EAR”) to impose expansive new controls on US persons’ activities in connection with non-US military, security, and intelligence end users and end uses, as well as new end user-, end use-, and list-based controls applicable to items subject to the EAR.
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Aug 13, 2024 | 
lexology.com | Paul Amberg |Daniel Andreeff |Michael Amberg
The US Department of Commerce’s Bureau of Industry and Security (“BIS”) has issued two proposed rules amending the Export Administration Regulations (“EAR”) to impose expansive new controls on US persons’ activities in connection with non-US military, security, and intelligence end users and end uses, as well as new end user-, end use-, and list-based controls applicable to items subject to the EAR.
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Jun 21, 2024 | 
sanctionsnews.bakermckenzie.com | Paul Amberg |Alexandre Lamy
On June 5, 2024, the US Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) amended the Syrian Sanctions Regulations (“SSR”), 31 C.F.R. Part 542 and issued and amended frequently asked questions (“FAQs”) related to the SSR. According to a new OFAC FAQ, these changes are aimed, in part, at facilitating humanitarian assistance and internet-based communication services to Syrian civilians.
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May 2, 2024 | 
sanctionsnews.bakermckenzie.com | Paul Amberg |Eunkyung Shin |Rob O'Brien |Julian Godfray
On April 18, 2024, the US Treasury Department’s Office of Foreign Assets Control (“OFAC”) and the UK’s Foreign, Commonwealth & Development Office (“FCDO”) announced a coordinated sanctions package targeting Iran.
