Author: Morrison & Foerster
Published: February 16th
Original Source Link
The following client alert is courtesy of CGCC
member Morrison Foerster. This resource does not, and is not intended to
constitute legal advice.
In too many ways to count, 2020
was an extraordinary year. As we move into 2021 with optimism for an end
to the pandemic and better days ahead, we understand that the activity last
year of the U.S. Department of the Treasury’s Office of Foreign Assets Control
(“OFAC”) may not be the first thing on your mind. Yet, 2020 was an incredibly
busy year in the sanctions world as the Trump Administration continued to rely
on sanctions as perhaps its primary national security and foreign policy tool
of choice. To refresh your recollection of the year, we are summarizing
the most significant U.S. sanctions developments of 2020 — including
enforcement and designations statistics, programmatic changes, and major lessons
gleaned from enforcement actions — in a two‑part series. In this Part One, we
summarize OFAC’s major actions and programmatic developments in 2020. Part Two
will summarize the year’s OFAC enforcement actions and key lessons to be
learned from them.
CLICK HERE to read Part One
For any questions, kindly contact Jiang Liu, jiangliu@mofo.com