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On October 27, 2020, the US Treasury Department’s Office of Foreign Assets Control (OFAC) published a final rule amending the Cuban Assets Control Regulations (CACR) restricting certain remittance-related transactions to and from Cuba (the “Final Rule”). OFAC also published updated and new Frequently Asked Questions (FAQs) related to transactions with Cuba. Significantly, the recent amendments…

The Baker McKenzie Global Wealth Management Subpractice Group is presenting a series of short webinars to keep members of the community abreast of recent developments in these uncertain times. On 10 November 2020, the topics focused on during the webinar were “Giving it away piece by piece: an update and discussion on conservation easement deductions from planning and controversy perspectives” and “US domestic planning opportunities amidst crisis”.

On November 12, 2020, CBP issued CSMS #44838240 – GUIDANCE: Section 232 Exemption for Canadian Unwrought Aluminum – Entry Summary and Post Summary Correction Processing, which is reproduced below: Background On October 27, 2020, the President signed Presidential Proclamation 10106, “Adjusting Imports of Aluminum into the United States,” published in the…

We are pleased to announce the release of the Global Oil & Gas Survey: Response to the Oil Price Crisis.

This multijurisdictional survey current to Q4 2020 summarizes the response of 24 key oil producing jurisdictions to the 2020 oil price crisis and the drop in demand resulting from the COVID-19 pandemic. For each of these jurisdictions our Baker McKenzie oil & gas experts have outlined the government’s response to the crisis, the ensuing sector vulnerabilities, as well as certain critical issues to watch out for — including the implications for the energy transition for each country. An interactive map enables clients to easily access jurisdictions of particular interest.

On October 26, 2020, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) designated additional Iranian individuals, entities and vessels to the Specifically Designated Nationals and Blocked Persons List (the “SDN” List) pursuant to Executive Order 13224 (as amended) (EO 13224), a counter-terrorism authority, for their support to Iran’s Islamic…