On August 12, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) announced a $60,764 settlement with Rice Lake Weighing Systems (Rice Lake), a Wisconsin-based manufacturer of scales and other weight measuring equipment, to address apparent violations of U.S. sanctions on Iran. The violations were committed by Dini Argeo S.r.l. (Dini), Rice Lake’s Italian subsidiary.
Continue Reading OFAC Settlement Highlights Iran Sanctions Risks for Non-U.S. Subsidiaries of U.S. Companies
Sanctions (OFAC)
OFAC Launches Reconsideration Portal to Streamline Delisting Petitions
By Faith Dibble & Thad McBride on
On June 29, the U.S. Department of the Treasury, Office of Foreign Assets Control (OFAC) launched an online Reconsideration Portal for requests to remove persons or property from OFAC sanctions lists, including the Specially Designated Nationals and Blocked Persons (SDN) List. OFAC states that the portal streamlines delisting petitions by collecting key information upfront rather than through repeated questionnaires.…
Continue Reading OFAC Launches Reconsideration Portal to Streamline Delisting Petitions
OFAC Enforcement Update: $1.72M Settlement Highlights Screening Gaps in Education, Similar Sectors
On February 12, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) announced a $1.72 million settlement with IMG Academy, LLC (IMG) arising from apparent violations of OFAC’s counternarcotics sanctions program. OFAC is the U.S. government agency with primary responsibility for administering economic sanctions.
Continue Reading OFAC Enforcement Update: $1.72M Settlement Highlights Screening Gaps in Education, Similar SectorsUpdate on Venezuela: Significant Trade Restrictions and Risks Continue
By Faith Dibble & Thad McBride on
We hope everyone had a great holiday. 2026 is now officially off and running, and particularly in light of recent events, we want to briefly summarize current trade restrictions related to Venezuela. The landscape will almost certainly shift soon – and often – and we will provide updates as often as possible. Importantly, at present, there continue to be significant restrictions when doing business in and with Venezuela.
Continue Reading Update on Venezuela: Significant Trade Restrictions and Risks ContinueOFAC Enforcement Update: Recent Penalties Highlight Expectations Around Beneficial Ownership, Transparency, and Reporting Obligations
By Faith Dibble & Thad McBride on
The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) recently announced two separate enforcement actions against IPI Partners, LLC and Gracetown, Inc. for violations of Ukraine-/Russia-related sanctions. OFAC is the agency responsible for administering and enforcing U.S. economic sanctions programs.
These actions highlight OFAC’s willingness to scrutinize private equity and other investment…
U.S. Government Ends Sanctions on Syria
By Faith Dibble & Thad McBride on
Posted in International Trade, Sanctions (OFAC)
On June 30, President Trump signed Executive Order 14312, “Providing for the Revocation of Syria Sanctions” (EO), which formally terminates many U.S. sanctions on Syria. Public reports indicate that the European Union has also lifted nearly all sanctions on Syria.
Continue Reading U.S. Government Ends Sanctions on SyriaSanctions Enforcement Update: DOJ Declines Prosecution After Post-Acquisition Disclosure
By Thad McBride on
In June 2025, the U.S. Treasury’s Office of Foreign Assets Control (OFAC) announced that Unicat Catalyst Technologies, LLC (Unicat), a Texas-based petrochemical company, had agreed to settle its potential civil liability relating to U.S. sanctions on Iran and Venezuela. OFAC is the primary U.S. government agency that administers and enforces U.S. sanctions.
Continue Reading Sanctions Enforcement Update: DOJ Declines Prosecution After Post-Acquisition DisclosureU.S. Government Eases Some Restrictions on Syria
By Faith Dibble & Thad McBride on
On May 23, 2025, the U.S. Treasury Department, Office of Foreign Assets Control (OFAC) announced several actions to provide sanctions relief to Syria. OFAC is the primary government agency responsible for administering U.S. economic sanctions.
Continue Reading U.S. Government Eases Some Restrictions on SyriaAmerica First Investment Policy Sets Sights on China
On February 21, the Trump Administration released the America First Investment Policy (the memo or memorandum). The wide-ranging memo formally targets investment from the People’s Republic of China, including Hong Kong and Macau (collectively, the PRC), in sensitive U.S. sectors, modifies aspects of the Committee for Foreign Investment in the United States (CFIUS) process, and proposes new restrictions on outbound investment.
Continue Reading America First Investment Policy Sets Sights on ChinaHaas Automation Agrees to Pay More Than $2.5 Million to Settle Sanctions and EAR Violations
By Faith Dibble & Thad McBride on
On January 17, the Treasury Department’s Office of Foreign Assets Control (OFAC) and the Commerce Department’s Bureau of Industry and Security (BIS) announced that Haas Automation Inc. (Haas) agreed to settle potential civil liability related to multiple violations of the Ukraine-/Russia-related Sanctions Regulations and the Export Administration Regulations (EAR).
Continue Reading Haas Automation Agrees to Pay More Than $2.5 Million to Settle Sanctions and EAR Violations