Posts by: Dmytro Konovalenko

The U.S. sanctions regime does not stop at the doors of financial institutions in the traditional sense. Investment funds — mutual funds, hedge funds, private equity, venture capital, and exchange-traded funds — are all subject to OFAC’s jurisdiction when they involve U Read more »

Banks occupy a uniquely exposed position under U.S. sanctions law. Every wire transfer, every account opening, every letter of credit carries the potential to touch a sanctioned party or jurisdiction — and the consequences of missing that connection can be severe. Understanding Read more »

OFAC — the Office of Foreign Assets Control — is a U.S. Treasury Department agency that administers and enforces economic and trade sanctions against foreign countries, governments, terrorist organizations, and individuals based on U.S. foreign policy and national security ob Read more »

The duration of an OFAC license depends on its type: General Licenses usually remain valid until officially revoked or amended, while Specific Licenses have a clearly defined period. After this period, continuing activities without license renewal may lead to serious legal conseq Read more »

If your business is related to supply, money transfers, and services to countries under U.S. sanctions, knowing OFAC rules is a matter of financial and legal security. The Office of Foreign Assets Control issues two main types of licenses: General License and Specific License. Ma Read more »

If your business is engaged in international transactions, the supply of goods, financial operations, or services, you must comply with OFAC requirements. Many sanctions programs prohibit or restrict interaction with certain countries, companies, and individuals. However, in some Read more »

Being placed on a sanctions list is one of the most serious legal and financial consequences a person or business can face in today’s world. It is not merely a bureaucratic designation — it sets off an immediate chain of restrictions that can freeze your assets, shut down Read more »

The UK’s Office of Financial Sanctions Implementation (OFSI) is one of the most actively enforced financial sanctions authorities in the world, and its importance has grown exponentially since Brexit and the expansion of Russia-related sanctions in 2022. For any business wi Read more »

Global sanctions have become one of the defining features of international business in the 2020s. No industry, geography, or company size is immune. The financial services sector faces direct regulatory obligations. The energy, shipping, and commodities sectors face targeted prog Read more »

Quick Answer: What Is the OFAC 50 Percent Rule? The OFAC 50 Percent Rule automatically treats any entity as sanctioned if one or more blocked persons own 50% or more of it — directly or indirectly, in aggregate. This means a company can be subject to full US sanctions even with Read more »

The distinction between primary and secondary sanctions is one of the most consequential — and most misunderstood — concepts in modern sanctions law. For U.S. persons, the difference is relatively straightforward: primary sanctions prohibit direct dealings with designated par Read more »

Trade sanctions have become one of the most powerful — and complex — instruments of international economic policy. For businesses, financial institutions, and legal advisors operating in global markets, understanding what trade sanctions are, how they work, and how to achieve Read more »