CommLaw Monitor
OFAC Targets Corruption In Bulgaria With Designation of Influential Individuals and Companies
Yesterday, the Office of Foreign Assets Control (“OFAC”) announced sanctions against three prominent Bulgarian individuals and 64 related companies for corruption. The designations are the largest action in the history…
Recent OFAC Settlement Highlights Need to Consider IP Address Geolocation Data
On December 30, 2020, the Office of Foreign Assets Control (“OFAC”) announced a settlement agreement with BitGo, Inc. (“BitGo”) for providing digital wallet services to users located in sanctioned jurisdictions,…
OFAC Extends Authorization for Wind Down and Divestment Activities Involving Xinjiang Production and Construction Corps (XPCC) Subsidiaries
Last week OFAC extended its general license authorizing U.S. persons to wind down and divest from certain transactions with subsidiaries of the Xinjiang Production and Construction Corps (XPCC) until November 30, 2020.…
U.S. Adds 24 Chinese Construction and Communications Companies to the Entity List
Today the Bureau of Industry and Security (BIS) added 24 Chinese state-owned companies to the Entity List for their role in the construction of artificial islands in the South China Sea. The Entity List prohibits the…
OFAC announces first Hong Kong sanctions designations
On Friday, OFAC issued its first designations under the new Hong Kong sanctions program imposed by E.O. 13936 . OFAC added 11 current and former Hong Kong government officials, including Carrie Lam, Hong Kong’s Chief…