U.S. Sanctions



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U.S. Sanctions Venezuelan Supreme Court

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.



U.S. Congress slaps North Korea with more sanctions

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.


Nuclear Deal Still Alive: Joint Commission meets to review Iran Nuclear Deal

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.





President Trump Certifies Tehran’s Compliance with Nuclear Deal, but starts Review of Sanctions Relief

On 18 April 2017, U.S. Secretary of State Rex Tillerson certified to Congress that Iran is in compliance with the recently concluded Nuclear Deal – Joint Comprehensive Plan of Action (JCPOA). However, he also announced that President Trump would start an inter-agency to review on the appropriateness of U.S. Iran sanctions relief.