After months of intense negotiations, this quarter saw the announcement of a framework agreement between the P5+1 and Iran that, if it results in a final agreement, will lead to a suspension of Western sanctions. In another historic moment, U.S. announced the first Cuba-related regulatory reforms following President Obama’s 2014 announcement that his administration would seek to improve economic ties with the country. The U.S. and E.U. continue to implement tough sanctions targeting Russia despite the negotiation of a new Ukraine armistice in February. In the spotlight for enforcement actions this quarter was the long-anticipated settlement between Commerzbank AG and U.S. authorities over alleged sanctions violations.
View full memo, Sanctions Round Up: First Quarter 2015