The fourth quarter of 2014 was marked by a major shift in the United States’ approach to Cuban relations. While the parameters of the new relationship between the United States and Cuba have yet to be defined, President Obama has made a strong commitment to thawing relations between the two countries. In contrast, the United States and the European Union maintained strong sanctions against Russia, in an effort to resolve the crisis in Ukraine. Finally, as the P5+1 was unable to reach an agreement with Iran regarding its nuclear program by the November deadline, the US and the EU have extended temporary sanctions relief until this summer.

Included in this quarter’s sanctions round-up is a discussion of:

• US and EU continue sanctions against Russia for its activity in Ukraine
• US and EU sanctions against the Crimea region
• US makes major change in Cuban relations
• The EU extends its sanctions programs for Syria
• US Enforcement Actions
• US sanctions target terrorists abroad
• OFAC sanctions target drug-trafficking operations in Central and South America

View full memo, Sanctions Round Up: Fourth Quarter 2014