SECOND QUARTER 2022
• US sanctions against Russia continued to escalate, with new blocking
sanctions imposed on major Russian banks and corporates, as well as
sweeping new trade and investment bans.
• DOJ and Treasury Department announce strong new policies to
prioritize Russia sanctions enforcement.
• This quarter saw the resumption of US sanctions on Iran's energy and
petrochemicals sectors, as diplomatic efforts to revive the JCPOA
reportedly falter.
• OFAC enforcement action highlights importance of compliance controls
in post-merger operations.
• Non-US logistics company settles potential liability for using US banks
to process payments involving Iran, North Korea and Syria.
