Client Alert August 2017

August 2017 Client Alert issued by the Export Control Team of Studio Legale Padovan informs about the latest modifications introduced in the area of US economic sanctions.

On August 2, 2017, President Trump has signed the Countering America’s Adversaries Through Sanctions Act, which imposes stringent measures (with extra-territorial effect as well) on subjects relating to Russian financial entities, and subjects that are active in the Russian energy and crude oil sector. The Act also provides that the US President cannot revoke measures previously adopted against Russia through Presidential Executive Orders without the Congressional prior consent. Moreover, the Administration is authorized to impose new sanctions on entities involved in Iranian ballistic missile programs, in the violations of internationally recognized human rights in Iran, in the sale or transfer to Iran of military equipment, as well as on subjects involved in the transfer of great quantities of certain fuels to North Korea, in the maintenance of North Korean cargoes and the provision of financial services to North Korea.

Sanctions imposed by the Department of the Treasury (OFAC) against Venezuelan president   Nicolas Maduro have been examined too.

Download the Italian version of August 2017 Client Alert issued by Studio Legale Padovan’s Export Control Team.

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