The United States and its allies continue to use sanctions to attack adversarial governments and their perceived allies, putting companies and individuals with tenuous or merely alleged ties at risk.
Recent sanctions have targeted Russia, but PRC companies were designated in the February 2024 round, signaling increasing risk to PRC individuals and business if China-U.S. relations deteriorate.
At-risk individuals and business should take proactive steps to prepare.
The web of U.S. sanctions across the globe is dynamic and complex, and it can affect companies doing business in any corner of the world, even those with limited ties to the U.S.
Inadvertent sanctions violations can be considered “egregious” by OFAC and subject violators to significant fines.
