On 02 August 2017, President Trump, signed the Countering America’s Adversaries Through Sanctions Act. This bill was sponsored by the U.S. Congress, which overwhelmingly voted for a fresh wave of sanctions against Iran, North Korea and the Russian Federation.
On 26 July 2017, OFAC imposed a new wave of sanctions against Venezuela. The OFAC action blacklists 13 current or former senior officials of the Venezuelan Government that the U.S. Government holds responsible for the undermining of democracy, violence against opposition protesters and corruption. As a result, all assets of these individuals subject to U.S. jurisdiction are frozen, and U.S. persons are prohibited from dealing with them.
On 29 June 2017, the U.S. Department of the Treasury announced that the Bank of Dandong, a Chinese bank, is a foreign bank of primary money laundering concern under Section 311 USA Patriot Act). Furthermore, the Treasury’s Office of Foreign Assets Control blacklisted two Chinese individuals and one Chinese company in response to North Korea’s ongoing WMD development and continued violations of UN Security Council resolutions.
On 16 June 2017, President Trump announced, that the U.S. would be rolling back Obama-era Cuba sanctions relaxations. As a consequence, the Trump Administration will reinstate travel and commercial restrictions eased by the Obama administration in an attempt to obtain additional concessions from the Cuban government.
On 15 June 2017, the U.S. Senate overwhelmingly voted to adopt new sanctions against Iran. The new sanctions are framed in the Countering Iran’s Destabilizing Activities Act of 2017 (S.722). Text of S.722 can be found here. …
On 18-05-2017, the U.S. Department of the Treasury’s OFAC slapped sanctions on Venezuela’s Supreme Court of Justice (Tribunal Supremo de Justicia or TSJ and Constitutional Chamber TSJ-C). OFAC designated eight members of the TSJ for their contribution to undermining the Venezuelan democratic process). Specifically, the black-listings are based on Executive Order 13692, which impose both a travel ban (into the U.S.) and freeze all assets (subject to U.S. jurisdiction) of the blacklisted judges. As a result, all U.S. persons are generally prohibited from engaging in any transactions with these persons.
On 17 May 2017, the Trump Administration renewed its waiver of sanctions by certifying that the Iran Nuclear Deal is working. However, the White House did state that the U.S. will continue its review of the deal.
On 04 May 2017, the U.S. House of Representatives approved the Korean Interdiction and Modernization of Sanctions Act (H.R. 1644). This latest salvo of U.S. sanctions against North Korea aims to thwart Pyongyang’s advancing nuclear and ballistic missile programs. The sanctions target North Korea’s shipping industry and use of slave labor. The approved bill has now moved to the U.S. Senate, who must now approve the restrictive measures.
On 25 April 2017, the Joint Commission (JC) established by the Iran Nuclear Deal, met in Vienna to review the implementation of the Nuclear Deal. Under the Nuclear Deal, the JC is responsible for overseeing the implementation of the JCPOA. The meeting, 5th meeting of the JC discussed amongst other things: cooperation in the field of civil nuclear safety, the modernization program of Arak, and sanctions relief.
On 28 April 2017, the UN Security Council (UNSC) meet to discuss North Korea’s nuclear program and ballistic missile testing (a flagrant violation of UNSC resolutions). With rising tensions, the UN Secretary-General, Antonio Guterres, said…