Sanctions Expert’s Post

July 23rd has come and gone, a day that imposed numerous deadlines for sanctions-related tasks under the April 24, 2024 National Security Package on the President (i.e., OFAC). Several reports in relation to Russia, Iran (e.g. the "MAHSA Act"), and terrorism were required to be filed as of that date, including a report identifying any gaps between foreign persons that are subject to the EU and UK sanctions programs for Russia, but that are not yet sanctioned by OFAC. It doesn't appear that any such reports have yet been filed with Congress, at least not publicly? In a recent co-authored article with UK counsel Mikhail Vishnyakov FCIArb and Anna-Rose Davies of Cooke, Young & Keidan LLP, we had assessed this reporting requirement for the EU, UK, and US sanctions gap, and the coming wave of designations by OFAC on persons identified in the report. There is no stated requirement for the report or any portion thereof to be classified. However, even if not made public, it would be useful to know if it was at least filed with Congress. #ofac #russiasanctions #sanctionscompliance #eusanctions #uksanctions #sanctions #sanctionsscreening #mahsaact https://lnkd.in/drEtWGVi

The Russian sanctions of the U.S. expanding on a short-term regularly basis which may cause to fail to follow. Here is the pie chart showing the most designated countries. Türkiye is one of the main designated countries in terms of total number sanctioned listed individuals and companies. It is not too late for companies to make risk assesment and become compliant with the sanctions regulations especially the U.S., EU and UK.

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. Read our latest blog post to learn more about these amendments.

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. Read our latest blog post to learn more about these amendments.

BITE Data Tracker - June 17th - 22nd 2024 Updated Data Sets include: - Asian Development Bank Sanctions - DHS / FLPA - Uyghur Forced Labor Prevention Act Entity List - FBI Most Wanted - Individuals Terrorists Listed in the Fourth Schedule of the Unlawful Activities (Prevention) Act, 1967 - Inter-American Development Bank Sanctions - Interpol Red Notices - South African Targeted Financial Sanctions - Unlawful Associations Under Section 3 of Unlawful Activities (Prevention) Act, 1967 - Russian Industry Sector Sanctions List - Supplement Number 7 to Part 746 - Russia Belarus and Iran - Consolidated Screening List updates (including OFAC updates) - EU Financial Sanctions *Note: EU and CSL updates/numbers not shown below

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. Read our latest blog post to learn more about these amendments.

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. Read our latest blog post to learn more about these amendments.

KYC took on added significance in the sanctions world in 2023. No, not Know Your Customer, though that certainly remains important. Know Your Cargo became a new mantra for sanctions practitioners and there is every indication it will continue to be heard throughout 2024. But growing geopolitical tensions and national security concerns mean that trade-related sanctions will not be the only area of focus in 2024. Read more here: https://lnkd.in/epYPdTcC #kyc #knowyourcustomer #riskmanagement #protiviti Perry Huijgen Owen Roderik Strijland Yvonne van der Schoot

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. Read our latest blog post to learn more about these amendments.

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. Read our latest blog post to learn more about these amendments.