United States: Export Controls & Trade & Investment Sanctions

Another busy month in customs & international trade news:

In recent years, many Iranian-Americans have faced growing uncertainty when trying to manage property or financial ties in Iran. One of the most sensitive issues is what happens when someone sells property in Iran and wants to transfer the money to the United States.

On March 18 and 19, 2026, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) issued two new Venezuela-related general licenses: General License No. 52 (GL 52), authorizing most previously prohibited transactions involving Petróleos de Venezuela, S.A. (PdVSA) and General License No. 5V (GL 5V), authorizing further transactions related to the PdVSA 2020 8.5 Percent Bond issued on or after May 5, 2026

International trade policy has emerged as a dominant force shaping the oil & gas sector, with sweeping tariffs imposed on products from virtually every nation using authorities including IEEPA, Section 232 and Section 301.

On 2 March 2026, Mr Justice Bright of the English Commercial Court dismissed Russia's objections to enforcement of arbitration awards worth more than USD 50 billion in favour...

The Sanctions Update, compiled by attorneys from Steptoe's award-winning International Regulatory Compliance team and the Stepwise: Risk Outlook editorial team, publishes every Monday...

The Sanctions Update, compiled by attorneys from Steptoe's award-winning International Regulatory Compliance team and the Stepwise: Risk Outlook editorial team, publishes every Monday.

On March 2, 2026, the United States Trade Representative (USTR) delivered President Trump's 2026 Trade Policy Agenda and the 2025 Annual Report to Congress (Report).

In a significant development, on March 4, 2026, Judge Richard K. Eaton of the Court of International Trade (CIT) ordered U.S. Customs and Border Protection (CBP)...