Shearman & Sterling LLP | Sanctions | Sanctions Round Up: Third Quarter 2013
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  • Sanctions Round Up: Third Quarter 2013

    Following a flurry of activity at the end of the last quarter, U.S. authorities were almost silent on the sanctions front in the third quarter of 2013. In fact, perhaps the most notable actions by OFAC consisted of an easing of Iranian sanctions to allow for humanitarian and goodwill activities and to expand the list of items that may be exported to Iran without a specific license. Still, OFAC continued to announce enforcement actions in relation to a wide range of violations, demonstrating that the Treasury Department will pursue infractions of any size or value, whether or not they were committed with intent. The U.S. also extended its ban on the import of jade or rubies from Burma (Myanmar) and continued to designate individuals and entities on terrorism related grounds. In the European Union, sanctions against Syria and North Korea were extended against the backdrop of the E.U.’s General Court’s continued annulment of sanctions against Iranian entities.

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    CATEGORY: US Sanctions