On July 14, 2015, the P5+1 nations (United States, United Kingdom, France, Russia, China and Germany) and Iran announced that they had agreed upon a Joint Comprehensive Plan of Action (JCPOA) regarding Iran’s nuclear program.
Foreign Affairs
P5+1 Nations Reach Nuclear Deal With Iran
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We will never sell or share your information without your consent. See our privacy policy.Update on U.S. Sanctions Relating to Ukraine
By Daniel Gerkin, Donald Smith, Jerome Zaucha | K&L Gates LLP
Please find below a summary of recent development regarding U.S. sanctions against Russia and a summary of the U.S. sanctions to date.
U.S. Sanctions
On September 12, the United States, in coordination with the EU, imposed additional sanctions against Russia in connection with events in Ukraine. Specifically,
the Office of Foreign Assets Control, U.S. Department of the Treasury (“OFAC”): (i) placed additional Russian persons on OFAC’s Specially Designated Nationals and Blocked Persons (“SDN”) list; (ii) placed additional Russian persons on OFAC’s Sectoral Sanctions Identifications List (“SSIL”); (iii) amended the bar on activities by U.S. persons relating to debt of SSIL-listed persons from the Russian financial services sector to cover new debt of more than 30 days maturity (previously the bar related to debt of 90 days or longer); (iv) imposed a bar on activities by U.S. persons relating to new debt of more than 30 days maturity of SSIL-listed persons from the Russian defense and related materiel sector; and (v) imposed a bar on activities by U.S. persons in support of deepwater, Arctic offshore, or shale exploration or production projects that have the potential to produce oil in Russia and that involve any person designated on the SSIL in connection with the bar; and
the Bureau of Industry and Security, U.S. Department of Commerce (“BIS”): (i) added five entities from the Russian defense or related material sector to the BIS Entity List; (ii) added five entities from the Russian energy sector to the BIS Entity List, which are now subject to an export licensing requirement for certain energy projects; and (iii) imposed an export licensing requirement on certain Commerce Control List items known to be destined to Russia for a military end use or user (expanding the current licensing requirement for such exports to China to also cover Russia).
U.S., EU Impose Sector-Specific Sanctions Against Russia
By Christine Savage, Iain MacVay, Mark Wasden, Jane Cohen, Sajid Ahmed, Shannon Doyle Barna, Clint Long | King & Spalding
Recently the United States and the EU imposed additional targeted sanctions against Russia in response to the ongoing conflict in Ukraine. Although previous sanctions issued by the U.S. and EU since March 2014 affect various sectors of the Russian economy, including Russia’s military industrial complex, the most recent sanctions target Russia’s financial and energy sectors.
U.S. Sanctions
Since March 2014, the United States has imposed visa bans on certain government officials and blocked property and interests in property of certain persons and entities that are stated to contribute to the situation in Ukraine. The most recent sanctions imposed restrictions on exports and re-exports of oil- and gas-related items for deepwater, Arctic offshore, or shale projects in Russia. These sanctions have been imposed primarily by the U.S. Treasury Department’s Office of Foreign Assets Control (“OFAC”) and the U.S. Commerce Department’s Bureau of Industry and Security (“BIS”).
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