US Strengthened And Expanded Economic Sanctions In 2019
Law360 (December 10, 2019, 5:24 PM EST) -- In 2019, U.S. regulatory developments and enforcement related to sanctions continued at a breakneck pace. In addition to strengthening existing sanctions targeting Venezuela and Cuba, the U.S. Department of the Treasury's Office of Foreign Assets Control published new sanctions compliance program expectations and expanded the scope of sanctions-related reporting requirements for U.S. persons.
OFAC also flexed its enforcement muscle, imposing nearly $1.3 billion in monetary penalties, while laying the groundwork for further, aggressive enforcement of sanctions violations committed by non-U.S. subsidiaries, affiliates and portfolio companies.
The administration of President Donald Trump significantly strengthened U.S. sanctions against Venezuela through...
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