The Office of Foreign Assets Control (“OFAC”) released last Friday its monthly report of civil penalties it imposed for violations of the economic sanctions programs administered by the agency. I was particularly interested in the announcement of a $10,341.00 fine…
In testimony before the House Foreign Affairs Committee, Susan Rice, the U.S. Ambassador to the United Nations, rattled the sanctions saber against Eritrea, saying that the Eritrean government had only a “short window of time” to improve its relationship with…
According to this article in the New York Times, the Obama administration announced today more easing of the sanctions against Syria, stating that it would begin expedited case-by-case consideration of export licenses to Syria: The move will particularly affect “requests…
The Office of Foreign Assets Control issued today a Final Rule, without notice or public participation, which, effective immediately, amends the Iranian Transactions Regulations to amend the definition of “Iranian Account” found in § 560.320 of those Regulations. Prior to…