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Wake Up To Sanctions: SanctionsAlert.com Sanctions Round Up

October 6, 2017

US Substantially Increases Sanctions against North Korea to include Non-U.S. Persons

On September 20, 2017, the U.S. President signed Executive Order (E.O.) 13810 imposing additional sanctions against North Korea targeting trade and financial transactions.This move closely compliments the September 11 resolution by the United Nations Security Council on imposing sanctions on North Korea’s textile and oil industry.

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OFAC Shortens New Debt Maturity Periods under Russian Financial and Energy Sectoral Sanctions

By Peter Jeydel on September 29, 2017

OFAC today revised its Ukraine/Russia-related sectoral sanctions directives prohibiting US person dealings in new debt or new equity of listed Russian financial institutions and new debt of listed Russian energy companies (in both cases, these prohibitions continue to apply to the “interests in property” of the listed entities, meaning any entity 50% or more owned by them). OFAC took this step pursuant to a statutory mandate in the Countering Russian Influence in Europe and Eurasia Act of 2017 (CRIEEA).  See our advisory on CRIEEA.  The changes made today are as follows (and as expected based on the statutory mandate): read more…

SanctionsAlert.com Sanctions Round Up

Sanctions as an Anti-Corruption Tool: South Sudanese Corrupt PEPs Slapped with OFAC Designations
September 18, 2017

On September 6, 2017, pursuant to Executive Order (E.O.) 13664, OFAC added three South Sudanese officials, Malek Reuben Riak Rengu, Michael Makuei Lueth, and Paul Malong Awan, in addition to three companies owned or controlled by Riak Rengu, to the Specially Designated Nationals (SDN) List for their roles in the continued undermining of the peace, security, and stability of the country. As a result of these actions, all of the aforementioned individuals’ and entities’ assets within U.S. jurisdiction are blocked, and U.S. persons are generally prohibited from engaging in transactions with them. read more…

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