Failure to comply with the complex web of US sanctions laws and regulations carries significant risks both in terms of exposure to civil fines and penalties and reputational harm. To help maritime sector stakeholders navigate these regulations, the US Department of Treasury’s Office of Foreign Assets Control (OFAC) has published scenario-based sanctions compliance guidance on … Continue Reading
In our previous article on this topic (which you can read here), we analyzed recent enforcement activity by the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) related to the maritime transport of Russian-origin crude oil and Russian-origin petroleum products above price caps agreed by the “Price Cap Coalition,” comprising Australia, Canada, … Continue Reading
In June 2022, the Group of Seven (“G7”) countries—Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States—decided to pursue a policy to cap the price of Russian oil. In December 2022, the G7 countries, joined by Australia and the supranational European Union (together, the “Price Cap Coalition”) officially implemented measures to ban … Continue Reading
Last week, corporate defendant Lindsey Manufacturing, Inc. (“Lindsey Manufacturing”) was convicted of violating the Foreign Corrupt Practices Act (FCPA) for allegedly bribing and conspiring to bribe representatives of a state-owned Mexican utility through a third party intermediary. The Department of Justice’s press release on the case can be found here. Conduct The Department of Justice … Continue Reading
Two executives from a Chinese company were arrested by the Mexican Federal Police working together with the Federal Comptroller and the Attorney General’s office.This is the first time corporate executives are arrested as a result of a claim brought by Public Servants in Mexico. On November 30th 2010, the two Chinese executives delivered $3,000 USD … Continue Reading
