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OFAC Issues Venezuela Oil Trade General Licenses

The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) has issued General License (GL) 46, authorizing certain transactions related to Venezuelan oil and petroleum products for established U.S. entities. This action aims to expand trade and investment opportunities, though broader sanctions remain in place.

Treasury RFI on CFIUS Known Investor Program

The U.S. Department of the Treasury has issued a Request for Information (RFI) regarding the implementation of the CFIUS Known Investor Program (KIP). The RFI seeks public input on formalizing this voluntary program, which aims to streamline foreign investment reviews. The comment period closes on March 18, 2026.

Supreme Court Invalidates IEEPA Tariffs

The U.S. Supreme Court, in a 6-3 decision in Learning Resources v. Trump, ruled that the International Emergency Economic Powers Act (IEEPA) does not authorize the President to impose tariffs. This decision invalidates previously imposed IEEPA tariffs and forecloses their future use as a statutory basis for tariffs.

OFAC Authorizes Expanded Oil Activities in Venezuela

The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) has issued new General Licenses (GLs) expanding authorizations for U.S. persons involved in Venezuela's oil and gas sector. These licenses permit a wider range of transactions related to oil extraction, export, and services, aligning with a broader U.S. strategy to relax sanctions.

Swiss Sanctions Amended for Sudan

On February 18, 2026, Switzerland's Federal Department of Economic Affairs, Education and Research amended its ordinance on measures against Sudan. Seven individuals have been added to the sanctions list, with the measures taking effect immediately.

SECO Amends Ukraine Sanctions Ordinance

The Swiss State Secretariat for Economic Affairs (SECO) has amended Annex 8 of the Ordinance on Measures Relating to the Situation in Ukraine. The amendment modifies entries for 88 individuals and 92 organizations, with measures taking effect on February 24, 2026.

Swiss Ordinance on Sudan Sanctions Updated

Switzerland has updated its ordinance on Sudan sanctions following amendments by the UN sanctions committee. The SESAM database has been updated to reflect these changes, which enter into force in Switzerland without delay.

Ukraine Sanctions Measures Ordinance Update

On February 26, 2026, the Swiss Federal Department of Economic Affairs (EAER) updated its interpretative aid for sanctions measures related to the situation in Ukraine. The modifications are visible in track changes mode within the updated document.

EU Sanctions Against Russia and Belarus Updated

The European Commission has updated its guidance and FAQs regarding sanctions against Russia and Belarus. These updates address specific measures such as the Nord Stream infrastructure ban, provision of services, and the oil price cap, impacting entities under EU jurisdiction.

EU Sanctions FAQs on Provision of Services

The European Commission's Directorate-General for Financial Stability, Financial Services and Capital Markets Union has published Frequently Asked Questions (FAQs) regarding the provision of services in the context of sanctions adopted following Russia's military aggression against Ukraine. These FAQs clarify specific sector-related questions for businesses operating within the EU.