By Harry Sandick, Daniel Ruzumna and Jo Backer Laird ( November 10, 2020, 4:46 PM EST) -- On Oct. 30, the U.S. Department of the Treasury's Office of Foreign Assets Control issued an advisory and guidance addressing sanctions that may be imposed in connection with high-value artwork transactions.[1] The advisory expresses OFAC's view that the market for artwork valued above $100,000 is particularly susceptible to abuse by sanctions targets seeking to mitigate or evade applicable sanctions,[2] and is ripe for OFAC enforcement actions....
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