UPDATE: Congress Passes Sweeping Iran, Russia, and North Korea Sanctions Legislation

By Alexis Early*
July 27, 2017

On July 27, the Senate passed 98-2 the Countering America’s Adversaries Through Sanctions Act (HR 3364), which previously passed the House 419-3 on July 25, setting up a showdown with President Trump. This bill is an omnibus of three separate sanctions measures: the Countering Iran’s Destabilizing Activities Act (“CIDAA”), the Countering Russian Influence in Europe and Eurasia Act (“CRIEEA”), and the North Korean Interdiction and Modernization of Sanctions Act (“NKIMSA”).

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Indictment of Lebanese Businessman, Tajideen, Points to Bold Methods of Sanctions Enforcement by DoJ and May Trigger Compliance Headaches for Banks

July 14, 2017
By Anna Sayre, Legal Content Writer, SanctionsAlert.com

On March 24, 2017, Kassim Tajideen, an international financier and businessman operating a network of businesses in Lebanon and Africa, was charged by the U.S. Department of Justice (DoJ) with evading sanctions by purposefully concealing his association with certain companies, the profits of which were used in part to support the Shiite militant movement Hezbollah. This terrorist group was also designated by the U.S. Department of State as a Foreign Terrorist Organization in 1997. Tajideen, who was extradited from Morocco to the U.S., pleaded not guilty to all 11 counts. (more…)

Designated by D.C.: How U.S. Sanctions Combat Foreign Corruption

June 16, 2017
By: Saskia Rietbroek, Principal SanctionsAlert.com and Anna Sayre, Legal Content Writer,www.SanctionsAlert.com

The use of sanctions as an international means of effecting change has grown exponentially in recent times. As countries become less and less keen to use military force, the world has turned to sanctions implementation as a means of affecting international change, both politically and socially. (more…)

Between a rock and a hard place: How to ensure sanction compliance when operating a facility in a sanctions-targeted country

June 13, 2017
By Simon Hirsbrunner and Alice Lauterjung

The recently reported resignation of cement manufacturer LafargeHolcim’s CEO has thrown a spotlight on the risks of operating commercial activities in countries targeted by economic sanctions. [1] Without drawing any conclusions on the legal qualification of LafargeHolcim’s conduct in the specific circumstances, the following provides an overview of the principal issues at stake in this case. (more…)

Trump Sanctions Policies Still Undefined, But Could Affect Many Nations and Compliance Officers – Part 6: Treasury Secretary Steven Mnuchin’s Conciliatory Commitment to the Status Quo, For the Most Part

June 3, 2017
By: Anna Sayre, Legal Content Writer, SanctionsAlert.com

In this series, we present the comments and assertions made by President Donald Trump and his top assistants concerning economic sanctions and export controls so that compliance professionals can make informed decisions as to the likely positions of the new U.S. administration in the next four years. (more…)

Increasingly Complex Iranian Sanctions Regimes Cause Ongoing Complications for Compliance Suites

May 17, 2017
By: Anna Sayre, Legal Content Writer, SanctionsAlert.com

Since the international community decided to implement a plan to reduce sanctions against Iran, formally known as the Joint Comprehensive Plan of Action (JCPOA), on January 16, 2016 (“Implementation Day”), the European and U.S. regimes have become increasingly misaligned. Not surprisingly, this has led to compliance officers and other professionals having to navigate extremely treacherous waters. In a recent poll conducted by Sanctions Alert, when attendees were asked what the prospects are that U.S. sanctions will be eased in the near future, almost 90% of those polled indicated that this was either “Unlikely” or “Very Unlikely”. (more…)