Economic Sanctions & Export Controls: Cause & Effect
Helping U.S. and Non-U.S. Companies Recognize and React to Evolving U.S. Sanctions and Export Controls

U.S. sanctions and export controls have become an increasingly important U.S. regulatory device. Sanctions are rapidly evolving and being used to adjust markets and market participant behaviors. These changes make understanding sanctions and export controls essential for financial institutions, manufacturers and other companies contemplating cross-border transactions or domestic transactions with foreign persons.

Locke Lord’s International Trade lawyers are closely monitoring developments relating to sanctions and export controls. We encourage you to return to this page for resources and key updates in areas of importance to your business.


U.S. Department of the Treasury’s Office of Foreign Assets (OFAC)U.S. Department of Commerce’s Bureau of Industry and Security (BIS)U.S. Department of Commerce’s Bureau of Economic Analysis (BEA)Advanced Notice of Proposed Rulemaking (ANPRM)Uyghur Forced Labor Prevention Act (UFLPA)Foreign Extortion Prevention Act (FEPA)


 

U.S. Department of the Treasury’s Office of Foreign Assets (OFAC)

U.S. Announces New Sanctions Against ‎Russia following Ukraine-Russia War 2-Year Anniversary and the Death of Aleksey Navalny, February 2024

OFAC Oil Price Cap Alert, OPC Violations, and Russian Diamond Ban, February 2024

OFAC Revokes Venezuela Gold Mining ‎General License and Threatens to Reimpose Oil and Gas ‎‎Sanctions, February 2024

OFAC Sanctions New Russian Price Cap ‎Violator and Publishes General Licenses and FAQ, January 2024

GL 6N Extends to April 2024 the Moratorium That Prohibits Holders of PdVSA 8.5% Bonds From Acting on CITGO Collateral, January 2024

New U.S. Presidential Order Bans Import of Russian Seafood, January 2024

U.S. Issues Warning to Foreign ‎Financial Institutions That Assist Russia’s War Machine, January 2024

OFAC Targets Maritime Companies & Vessels for Violating Russian Oil Price Cap & Issues Related General Licenses, January 2024

U.S. Sanctions Persons Supplying Russia’s Military-Industrial Base and Issues New Related General Licenses, December 2023

OFAC Sanctions Additional Maritime ‎‎Companies & Vessels for Violating Russian Oil Price Cap & Issues Related General License, December 2023

OFAC Issues Venezuela-Related ‎General Licenses and FAQs, November 2023

Oil Price Cap Violations & New OFAC ‎GL for Crew Health and Safety and Safety of Blocked ‎Vessels, November 2023

OFAC Russia Sanctions Update, November 2023

Global Coalition Provides Guidance to Frustrate Russian Sanctions Evasion for Weapons Development, November 2023

OFAC Myanmar ‎Sanctions Update, November 2023

OFAC Russian Related Sanctions Update Extended GLs 13G, 74, 75 and 76, November 2023

Russian Oil Price Cap Advisory and Violation & Issuance of Russia-Related General License, October 2023

OFAC Russia Related Sanctions Update to Extend Deadline for Transactions With Sanctioned Financial ‎Institutions, October 2023

The U.S. Moves to Normalize Relations ‎With Venezuela by Suspending Certain VSR Sanctions ‎Predicated on Agreement for Free Elections, October 2023

Issuance of Russia-Related General Licenses, October 2023

Issuance of Russia-Related General License and Russia-Related FAQ Regarding Letterone Holdings S.A., August 2023

Belarus Designations, Issuance of ‎Belarus General Licenses and Expansion of Sanctions on the ‎‎Belarusian Regime, August 2023

Joint Compliance Note Issued by ‎Departments of Justice, ‎Commerce and Treasury on Voluntary ‎‎Self-Disclosure of ‎Potential Violations‎, August 2023

OFAC Russia Related Sanctions ‎Update: August 4, 2023

OFAC Amends Venezuela-Related ‎General License ‎Extending Delay of Actions Against Defaulted ‎PdVSA 2020 8.5% Bonds, August 2023

OFAC Issues General License Extending Export Authorization of Liquefied Petroleum Gas to Venezuela: July 19, 2023

OFAC Russia Related Sanctions Update: ‎July 18, 2023‎

OFAC Russia Related Sanctions Update: ‎June 6, 2023

OFAC Russia Related Sanctions Update: May 30, 2023

OFAC Russia Related Sanctions Update: ‎May 11, 2023

OFAC Issues FAQs and General License ‎to Clarify Venezuela Sanctions, May 2023

OFAC Issues Amended Venezuela-‎Related ‎General ‎License and ‎‎FAQ Extending Delay of Actions ‎Against Defaulted PdVSA 2020 8.5% Bonds, April 2023

OFAC Russia Related Sanctions Update: April 20, 2023 Russian Tactics to Evade the Oil Price Cap

OFAC Russia Related Sanctions Update: ‎April 17, 2023

OFAC Russia Related Sanctions Update: ‎April 3, 2023‎

OFAC Russia Related Sanctions Update: ‎‎March 30, 2023‎

OFAC Russia Related Sanctions Update: ‎‎March 6, 2023‎

OFAC Russia Related Sanctions ‎Update: ‎February 21, 2023‎

OFAC Russia Related Sanctions Update: ‎‎February 13, 2023

OFAC Issues Amended Venezuela-‎Related ‎General ‎License and ‎FAQ Extending Delay of PdVSA ‎‎2020 8.5 Percent Bond Authorization‎, January 2023

OFAC Russia Related Sanctions Update: ‎‎‎January 24, 2023‎

OFAC Issues New and Revised ‎Venezuela-Related ‎General Licenses and FAQs for ‎‎Humanitarian Relief, January 2023

OFAC Russia Related Sanctions ‎Update: ‎‎January 3, 2023

OFAC Russia Related Sanctions Update: ‎‎‎December 27, 2022‎

OFAC Russia Related Sanctions Update: ‎‎‎December 7, 2022‎ ‎Relating to the ‎Russian Oil Price ‎Cap

OFAC Issues Venezuela-Related ‎General Licenses and FAQs, December 2022

OFAC Russia Related Sanctions Update: ‎‎November 29, 2022‎ ‎Relating to the Extension of GL 13 and the ‎Russian Oil Price Cap

OFAC Russia Related Sanctions Update: November 21, 2022

OFAC Russia Related Sanctions Update: ‎November 18, 2022‎

OFAC Russia Related Sanctions Update: ‎November 11, 2022

OFAC Russia Related Sanctions Update: ‎October 18, 2022‎

G7 Coordinated Effort to Implement a ‎Price Cap on Russian Oil and ‎Petroleum Products: September 27, 2022

OFAC Russia ‎Related Sanctions Update: September 26, 2022‎

OFAC Russia Related Sanctions Update: August 22, 2022

OFAC Russia Related Sanctions Update: ‎August 4, 2022

OFAC Russia Related Sanctions Update: ‎‎July 26, 2022‎

OFAC Russia Related Sanctions Update: ‎‎July 20, 2022‎

OFAC Russia Related Sanctions Update: ‎July 6, 2022‎

OFAC Russia Related Sanctions Update: ‎June 22, 2022‎

OFAC Authorization of Certain ‎Transactions Related to Patents, ‎Trademarks, and Copyrights, June 2022

OFAC Russia Related Sanctions Update: ‎June 14, 2022

OFAC Russia Related Sanctions Update: ‎June 7, 2022‎

OFAC Russia and Related Sanctions ‎Update, May 2022

Russia-Related Sanctions Update: SEC Disclosures and New U.S. Measures, May 2022

Russia-Related Sanctions Update: U.S. and Allies Expand Sanctions, May 2022

Understanding U.S. Sanctions and Export Controls (WEBINAR), April 2022

Russia Response to Western Sanctions – Nationalization, April 2022

Sanctions Round-up and Possible New Russia Sanctions Triggered by Hostilities Against Ukraine (A second version published in the American Bar Association Banking Law Committee Journal Spring 2022), February 2022

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U.S. Department of Commerce’s Bureau of Industry and Security (BIS)

BIS Penalizes U.S. Corporation for Anti-Boycott Violations, February 2024

BIS Issues Three New Rules to Ease ‎Licensing Requirements and ‎Enhance Exceptions for Exports to ‎Selected Countries, December 2023

BIS Designates Entities and OFAC ‎Sanctions Belarusian Persons and ‎Issues Related General ‎License, December 2023

Commerce Issues Rule to Secure ‎Semiconductor Supply Chains, November 2023

FinCEN Report Identifies Potential ‎Evasion of US Export Controls; The U.S. ‎FDPR and End Use ‎End User Certificate Protections, October 2023

Joint Compliance Note Issued by ‎Departments of Justice, ‎Commerce and Treasury on Voluntary ‎‎Self-Disclosure of ‎Potential Violations‎, August 2023

Iran Related Sanctions and Export ‎Controls Update: March 31, 2023‎

BIS Designates Six Chinese Entities ‎to the Entity List in Response to China’s ‎High-Altitude Balloon ‎Incident in the United States, February 2023

Understanding U.S. Sanctions and Export Controls, April 2022

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U.S. Department of Commerce’s Bureau of Economic Analysis (BEA)

BEA Reporting Requirements for ‎Foreign Direct Investment in the United States, May 2023

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Advanced Notice of Proposed Rulemaking (ANPRM)

Further Examination Into President ‎Biden’s Outbound Investment Controls in ‎Certain Chinese ‎Technology Sectors, October 2023

President Biden Issues Executive Order ‎Banning Certain Technology Sharing With China, August 2023

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Uyghur Forced Labor Prevention Act (UFLPA)

Commerce Department Issues ‎Preliminary Determination Regarding Solar Panel ‎Manufacturers Circumventing U.S. Tariffs, December 2022

Between a Rock and a Hard Place: ‎Conflicting Legal Obligations, July 2022

FLETF Strategy Guidance to Comply ‎‎With the Uyghur Forced Labor Prevention Act‎, July 2022

UK Enacts Sanctions Legislation for the ‎Protection of ‎Uyghur ‎Muslim Community in Xinjiang Province, ‎People’s ‎Republic of ‎China (“PRC”)‎, June 2022

Not So(lar) Fast My Friends – Uyghur ‎Forced Labor Prevention Act Takes ‎Effect June 21, 2022‎, June 2022

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Foreign Extortion Prevention Act (FEPA)

The New Foreign Extortion Prevention Act Augments U.S. Anti-Corruption and Anti-Bribery Laws and Targets Demand-Side Corruption, January 2024

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