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This quarter, companies around the globe prepared to exit
Iran-related business in the wake of U.S. sanctions
snap-back. Meanwhile, OFAC provided a path to relief to
designated Russian entities, extending several deadlines to allow
for the continued divestment by their oligarch owners. The
U.S. took no new sanctions actions against North Korea as the two
countries entered highly anticipated negotations surrounding
denuclearization. Finally, in its first enforcement action of
the year, OFAC stressed the importance of empowering compliance
personnel to prevent prohibited transactions.
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