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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.

Sanctions Round Up: Second Quarter 2018

This quarter, companies around the globe prepared to exit Iran-related business in the wake of U.S. sanctions snap-back.  Meanwhile, OFAC provided a path to relief to designated Russian entities, extending several deadlines to allow for the continued divestment by their oligarch owners.  The U.S. took no new sanctions actions against North Korea as the two countries entered highly anticipated negotations surrounding denuclearization.  Finally, in its first enforcement action of the year, OFAC stressed the importance of empowering compliance personnel to prevent prohibited transactions.

Non-US Companies Face Challenges as US Sanctions on Iran Return

The U.S. exit from the Iran Deal and the return of U.S. sanctions on Iran will impact companies located around the world, particularly if they conduct some part of their business in the U.S. Partner Philip Urofsky (Washington, D.C.-Litigation) and Of Counsel Danforth Newcomb (New York-Litigation) look at which companies will be most affected and how they could respond.

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