Shearman And Sterling

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Jul 11, 2013

Sanctions Round Up: Second Quarter 2013

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The end of the second quarter was marked by a flurry of Iran related activity, with President Obama authorizing new sanctions targeting Iran and OFAC preparing for IFCA sanctions that came into effect on July 1. OFAC otherwise continued to target human rights abusers, foreign sanctions evaders, and North Korea’s nuclear weapons and ballistic missile programs. Meanwhile, OFAC’s issuance of a new licensing policy and a waiver authorizing certain transactions in support of Syrian opposition forces mirrored the Obama administration’s evolving policy toward greater involvement in the Syrian conflict. Minor changes were also made to US sanctions targeting Burma and Sudan. Additionally, both OFAC and the NY Department of Financial Services announced settlements regarding sanctions violations at the end of the second quarter.

View full memo, "Sanctions Round Up: Second Quarter 2013"

Authors and Contributors

Philip Urofsky

Partner

Litigation

+1 202 508 8060

+1 202 508 8060

Washington DC

Danforth Newcomb

Of Counsel

Litigation

+1 212 848 4184

+1 212 848 4184

New York

Stephen Fishbein

Partner

Litigation

+1 212 848 4424

+1 212 848 4424

New York

Brian G. Burke

Partner

Litigation

+1 212 848 7140

+1 212 848 7140

+86 21 6136 5000

+86 21 6136 5000

New York