U.S. to Begin Enforcing GLOMAG

U.S. to Begin Enforcing GLOMAG

On December 20, 2017, President Trump signed an Executive Order (EO 13818) which seeks to use economic sanctions to tackle international human rights abuses. EO 13818 blocks the assets of 13 persons and lays the framework for applying blocking and U.S. visa restrictions on additional persons in the future.

The EO also authorizes blocking sanctions to those who materially assist, sponsor, or provide financial, material, or technological support for, or goods or services to, the targeted activities even absent the presence of a Specially Designated National (SDN). This means that companies or individuals involved with parties that may be engaged in human rights violations or corrupt activities, even if not designated an SDN, run the risk of potentially being designated themselves under this broad authorization.

Read more about this development here.