News 09 Apr. 2024
Curtis Announces New Partners and Counsels Across Offices in Spring 2024
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News 25 Jan. 2024
Counsel Mohannad A. El Murtadi Suleiman Addresses “Africanization” of International Investment Law
Event 18 Aug. 2023
Partner Borzu Sabahi Speaks at FDI Moot Shenzhen
News 25 Jul. 2023
Partner Eric Gilioli Ranked in Top 10 Influential Energy & Natural Resources Lawyers in Kazakhstan in Business Today
Client Alert 28 Dec. 2023
U.S. to Impose Secondary Sanctions on Non-U.S. Banks For Financing Russia’s Defense Industry
Event 22 Aug. 2023
Partner Dr. Claudia Frutos-Peterson to Speak at Arbitration and ADR Commission of the ICC Mexico
Event 11 Jul. 2023
Partner Elisa Botero Speaks on the Role of the ICC in Investment Disputes
News 15 Aug. 2023
Legal Reader Publishes Article on Dr. Majed Alotaibi’s Arrival as Senior Counsel in Curtis’ Riyadh Office
News 31 Jul. 2023
Curtis Welcomes Senior Saudi Advisor, Dr. Majed Alotaibi, to its Riyadh Office
News 24 Aug. 2023
Curtis Attorneys Quoted in CoinDesk on FTX Founder Sam Bankman-Fried’s Strategy Ahead of His Criminal Trial
Client Alert 26 Jun. 2024
The EU Adopts its 14th Sanctions Package Against Russia
Client Alert 03 May. 2024
The EU Adopts the Directive on Definition of Criminal Offences and Penalties for Violations of EU Restrictive Measures
news
Anna Kozmenko Appointed to the ICC International Court of Arbitration
Curtis Elevates Jacopo Cordiano to Partner in the Milan Office
President Biden issued an executive order on December 22, 2023 that provides the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) with new authorities to target foreign financial institutions that continue to process transactions to Russia. In public remarks, Deputy Treasury Secretary Wally Adeyemo identified banks in China, Turkey and the United Arab Emirates as potential sanctions targets.
To mitigate secondary sanctions risks, foreign banks will have to step up compliance efforts to identify and restrict transactions that support Russia’s “military-industrial base.” U.S. financial institutions must also update compliance protocols to target correspondent banking transactions by covered foreign financial institutions.
Secondary Sanctions on Foreign Financial Institutions
The Executive Order of December 22, 2023 amends Executive Order 14024 to authorize sanctions on foreign financial institutions that conduct or facilitate significant transactions that support Russia’s military-industrial base.
Download the full briefing.
Economic Sanctions
International Trade
WTO and International Trade Dispute Settlement
Jason D. Wright
Partner
Ana Amador
Associate
Marwa Farag
Ziad El Oud
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Partner Charles Howland Discusses the Energy Transition and the Future of the Grid with the Energy Committee of the Greater...
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Colorado Sets the Bar for AI Compliance with New Law
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