On 2 May 2023, for the second time this year, the US and Turkish governments took joint action in imposing sanctions. Specifically, the United States and Türkiye imposed sanctions against two individuals determined to be financial facilitators of Syria-based terrorist groups Hay’at Tahrir al-Sham and Katibat al-Tawhid wal-Jihad, both of which are sanctioned by the United States and the United Nations. This follows a prior joint action in January targeting parties associated with the financial facilitation network of the Islamic State of Iraq and Syria.
Baker McKenzie’s Sanctions Blog published the alert titled United States: OFAC Reissues General License Extending Authorization Period for Transactions Related to Energy on 5 May 2023. Read the article via the link here. Please also visit our Sanctions Blog for the most recent updates.
Baker McKenzie’s Sanctions Blog published the alert titled New Blog Series: Sanctions Enforcement Around the World on 24 April 2023. Read the article via the link here. Please also visit our Sanctions Blog for the most recent updates.
Baker McKenzie’s Sanctions Blog published the alert titled OFAC Amends and Reissues the Belarus Sanctions Regulations on 19 April 2023. Read the article via the link here. Please also visit our Sanctions Blog for the most recent updates.
Baker McKenzie’s Sanctions Blog published the alert titled Sanctions Enforcement Around the G7: Intro to Blog Series and View from the United States on 28 February 2023. Read the article via the link here. Please also visit our Sanctions Blog for the most recent updates.
Baker McKenzie’s Sanctions Blog published the alert titled US and UK sanction cyber criminals in coordinated action on 17 February 2023. Read the article via the link here. Please also visit our Sanctions Blog for the most recent updates.
On 9 February 9, the US Department of the Treasury’s Office of Foreign Assets Control issued Syria General License 23, “Authorizing Transactions Related to Earthquake Relief Efforts in Syria.” General License 23 authorizes transactions related to earthquake relief efforts in Syria that would otherwise be prohibited by the Syrian Sanctions Regulations through 12:01 p.m. eastern daylight time, 8 August 2023.
Baker McKenzie’s Sanctions Blog published the alert titled FinCEN Issues Alert on Potential Russia Sanctions Evasion in the US Commercial Real Estate Sector on 7 February 2023. Read the article via the link here. Please also visit our Sanctions Blog for the most recent updates.
On 23 December 2022, President Biden signed into law the National Defense Authorization Act for Fiscal Year 2023. Section 5949 of the FY2023 NDAA would prohibit executive agencies from procuring or contracting with entities to obtain any electronic parts, products, or services that include covered semiconductor products or services from certain Chinese companies. The semiconductor prohibitions will not take effect until five years after the date of enactment, and the Federal Acquisition Regulatory Council will issue regulations implementing the prohibitions no later than three years from the enactment date.
Just before the holidays, President Biden signed two bills passed in the final days of the last Congress that contain a number of provisions with implications for sanctions, export controls, and supply chain restrictions: the National Defense Authorization Act and the Consolidated Appropriations Act, 2023.