Topic: Sanctions

Companies grapple with Chinese media backlash over US sanctions compliance

Companies complying with US sanctions focused on China’s Xinjiang region have faced a local media backlash. Lawyers say the retaliation puts multinationals at a crossroads.

28 January 2022

US sanctions authority clears Korea to pay Iranian award

South Korea says the US Office of Foreign Assets Control has authorised it to pay an investment treaty award to an Iranian family despite sanctions against Iran.

13 January 2022

We have an over-compliance problem, say in-house officials

In-house sanctions specialists say banks too often refuse to handle perfectly legal transactions out of fear of violating US sanctions.

12 January 2022

OFAC fines Hong Kong trading firm over Iran sanctions

The US fined a Hong Kong trading company $5 million after several employees went rogue and carried out transactions that violated sanctions on Iran.

11 January 2022

Under-staffed and overwhelmed, OFAC grapples with delays

The US sanctions agency is facing criticism from private sector lawyers about its slow response to licensing and enforcement matters.

07 January 2022

Miller & Chevalier takes Smith Pachter partner

In announcing the hire, Miller & Chevalier’s international department chair cited Daniel Solomon’s “deep insight into China's legal and business environments”.

04 January 2022

Airbnb settles with OFAC over Cuba sanctions violations

OFAC said the online travel services company rushed into opening operations in Cuba without a sufficiently tailored compliance programme.

03 January 2022

TD Bank compliance failures lead to US sanctions settlement

OFAC said the case “highlights the need for proper coordination of compliance efforts and actions across various departments and business units within a financial institution”.

03 January 2022

EU court rules on law blocking US sanctions compliance

The ruling provides a few more clues to companies about how to cut ties with Iranian entities without getting successfully sued, and suggests that the EU blocking statute doesn't block much when it comes to US sanctions.

21 December 2021

Danish court convicts fuel company of Syria sanctions violations

A former US Treasury Department official described the ruling as “monumental”.

14 December 2021

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