The U.S. Reacts to Ortega’s Fourth Consecutive Term in Power in Nicaragua

On January 10, 2022, Nicaraguan President Daniel Ortega was sworn into office for his fourth consecutive term, despite the United States and European Union allegations that the election was a “sham.”  On the same day, the U.S. imposed sanctions on Nicaraguan officials accused of undermining democracy. Over the past years, the Office of Foreign Assets … Read more

Bureau of Industry & Security Issues New Export Controls on “Cybersecurity Items”

On October 21, 2021, the Bureau of Industry & Security (BIS) of the US Department of Commerce issued a significant interim final rule (the Interim Rule).  The Interim Rule, reflecting an overall recent government emphasis on cybersecurity and ransomware issues, establishes new export controls for “cybersecurity items” such as intrusion software and network surveillance equipment … Read more

Designated: A Sanctions Podcast EP3: Cross over event with The Bettor’s Verdict

In a special podcast cross over event, the Designated team joins The Bettor’s Verdict to discuss the Impact of Crypto on Sanctions and AML Laws in the United States.  In this episode, Designated host Jonathan Cross, is joined by The Bettor’s Verdict host Steve Jacobs, and Herbert Smith Freehills Partner John O’Donnell. Jonathan, Steven and … Read more

OFAC Enters Settlement Agreement With a U.S. Company Related to Certain Exports to Iran Through Non-U.S. Distributors

On September 9, 2021, the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) entered a settlement agreement with NewTek, Inc. (“NewTek”), headquartered in San Antonio, Texas. According to a press release, NewTek agreed to pay $189,483 to settle its potential civil liability for 52 apparent violations of the Iranian Transactions and Sanctions … Read more

Designated: A Sanctions Podcast EP2: History of US Sanctions Under the JCPOA May Offer Insight to Terms of Renewed JCPOA Participation

In this episode, Jonathan Cross, Brittany Crosby-Banyai and Dan Hudson discuss the history of the Iran sanctions program under the Iranian nuclear deal, known as the Joint Comprehensive Plan of Action (“JCPOA”). They also analyze the mechanisms by which sanctions were re-imposed when the US left the agreement. These considerations offer insight as to the … Read more

UK, US and Canada impose additional sanctions on Belarus

On 9 August 2021, the UK, US and Canadian governments announced the imposition of additional sanctions on Belarus. These new measures follow the coordinated imposition of sanctions against Belarus by the EU, UK, Canada and the US in June 2021. The new US measures involve, among other restrictions: new US secondary sanctions applicable to companies … Read more

US Expands Myanmar Sanctions Measures

We continue to closely monitor the international response to the political situation in Myanmar and are providing regular updates in relation to sanctions and other developments that may impact international businesses with interests or operations in Myanmar. For further information on the current situation, please get in touch with one of our key contacts below. … Read more

OFAC, State Department, and Coast Guard Issue New Guidance About Sanctions Evasion Practices in Shipping Industry

On May 14, 2020, the US Department of Treasury’s Office of Foreign Assets Control (“OFAC”), the US Department of State, and US Coast Guard issued a Sanctions Advisory for the Maritime Industry, Energy and Metal Sectors, and Related Communities (the “Advisory”). The Advisory focuses on Iran, North Korea, and Syria, and offers information about, and tools to … Read more