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Sanctions Round Up: Second Quarter 2019

This quarter, the Trump Administration continued its “maximum pressure” campaign against Iran, extending sanctions to its metals industries and senior officials as prospects of an EU alternative payment system all but collapsed. OFAC also maintained focus on Venezuela, disrupting the country’s oil revenues and its ties to Cuba. Meanwhile, OFAC published new guidance for building an effective sanctions compliance program and revised regulations governing reporting requirements. On track for a record number of enforcement actions, OFAC announced multiple resolutions, including settlements with three U.S. entities for arranging Cuba-related travel services. Finally, Turkey’s scheduled purchase of a Russia-developed defense system will test the Trump Administration’s resolve in imposing mandatory CAATSA sanctions.

Sanctions Round Up: First Quarter 2019

In this quarter, OFAC lifted sanctions on Rusal and other companies following divestment by Oleg Deripaska.  Meanwhile, as Venezuela descends into economic and political crisis, the US targeted PdVSA and others to hasten regime change.

Shearman & Sterling Wins Four China Business Law Awards 2019

Shearman & Sterling won four awards from China Business Law Journal’s China Business Law Awards 2019, in the categories of Anti-Bribery & Compliance, Capital Markets (Overseas), Construction and Infrastructure, and Dispute Resolution.

Sanctions Round Up: Fourth Quarter 2018

Closing out 2018, OFAC announced its plan to lift sanctions against United Co. Rusal and others, despite bi-partisan opposition from Congress. Simultaneously, OFAC continued to target Russia’s defense and intelligence sectors for continued destabilizing activity in Ukraine, and worldwide elections interference.

FCPA Compliance Report Podcast – Episode 412

Partner Philip Urofsky (Washington, D.C.- Litigation) was interviewed in the FCPA Compliance Report Podcast, where he discussed some of the top highlights from Shearman & Sterling’s FCPA Digest 2019 with host Tom Fox. The episode aired in January 2019.

6th Cercle de la Compliance Conference

Partner Brian Burke (New York/Shanghai – Litigation) spoke at the OECD (Organization for Economic Cooperation and Development) headquarters in Paris, France for the 6th Cercle de la Compliance Conference on September 27.

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