Trade and Manufacturing Monitor
News and insight from our international trade practice group
U.S. Treasury Lifts Sanctions on Nynas AB
On May 12, 2020, the U.S. Treasury’s Office of Foreign Assets Control (“OFAC”) announced that U.S. persons no longer need OFAC authorization to engage in dealings with Nynas AB, provided such activities do not involve…
Implications for Suppliers - Chevron Ordered to Wind Down Venezuela Business By December 1, 2020 (with Limited Wind-Down Activities)
On April 22, 2020, President Trump ordered Chevron to "wind down" its business in Venezuela by December 1, 2020. This will have a significant impact on companies that supply Chevron with equipment used for oil and gas…
U.S. Proposes Framework for Transition and Lifting of Venezuela Sanctions
Elliott Abrams, the U.S. Special Representative for Venezuela, announced a plan to lift sanctions on Venezuela should the Maduro regime step aside to permit a transitional government to be elected until full elections…