Litigation

Sanctions Roundup Second Quarter 2021

Shearman & Sterling LLP

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SECOND QUARTER 2021 • In the face of court challenges, Biden Administration drops sanctions against Chinese electronics firm, but revamps Trump-era sanctions on other public companies with alleged PRC military ties. • JCPOA future remains unclear despite signs of progress in Vienna talks. • OFAC issues Burma Sanctions Regulations, targets state-owned enterprises in Myanmar's gemstone and timber industries. • Defying years of Congressional efforts, Biden Administration effectively drops US opposition to completion of Nord Stream 2 pipeline. • In settlement with German tech giant, DOJ announces first non- prosecution agreement pursuant to new "Export Controls and Sanctions Enforcement Policy."

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