Each quarter, I send my clients a trade compliance update, highlighting important developments over the last few months and summarizing key points for important sanctions programs. In addition to a variety of ad hoc designations, below is a summary of key events this...
On July 8, 2025, the United States Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) announced a settlement with Harman International Industries, Inc. (“Harman”) for $1,454,145 to settle potential civil liabilities stemming from eleven apparent...
On July 2, 2025, The U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) announced a settlement agreement for $608,825 with Key Holdings, Inc. (“Key Holdings”), a Delaware-based global logistics company. The settlement resolves potential...
On July 15, 2025, the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) announced a settlement agreement with Interactive Brokers LLC (“Interactive Brokers”) violations of multiple U.S. sanctions programs. OFAC identified 12,367 apparent...
President Trump continued his flurry of sanctions actions with the recent revocation of the Syrian sanctions program. On June 30, 2025, President Donald Trump issued Executive Order (“EO”) 14312 “Providing for the Revocation of Syria Sanctions” marking a significant...
On June 16, 2025, the U.S. Department of Treasury’s Office of Foreign Assets Control (“OFAC”) entered into a settlement agreement with Unicat Catalyst Technologies, LLC (“Unicat”), for violations of both the Iranian Transactions and Sanctions Regulations (“ITSR”) and...