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After many rumors of potential changes to the U.S. policy on Venezuela, on October 18, 2023 the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) issued four general licenses, representing a significant shift in its Venezuela sanctions program.  Most pertinent for the shipping industry, certain sanctions that were in place against Petróleos de Venezuela, S.A. (PdVSA) and the Venezuela oil, gas and mining sectors have now largely been relaxed.Continue Reading Shipping briefing: Drill, baby, drill? A new Venezuelan wave for the shipping industry

At the forefront of addressing the global challenge of climate change is the effort to reduce carbon.

In their latest podcast, Pittsburgh’s energy transactional partner, Ryan Haddad and Brussels’ international trade and customs partner, Yves Melin explore how Carbon capture, utilization, and sequestration (CCUS) and the Carbon Border Adjustment Mechanism (CBAM) could interact in the…

In May 2023, the European Union (EU) adopted Regulation (EU) 2023/1115 on the making available on the Union market and the export from the Union of certain commodities and products associated with deforestation and forest degradation (the Regulation). The Regulation was officially published on 9 June 2023 and will enter into force on 29…

Governments around the world have imposed an unprecedented range of sanctions on Russia, as a result of its prolonged invasion of Ukraine. As each time a new sanctions package is released, companies are scrambling to view, receive advice on and modify their practices to ensure compliance.

On 2 June 2022, an updated FAQ on the…

The U.S. Department of Treasury’s Office of Foreign Assets Control (OFAC) announced on June 8, 2022, that it is amending the Cuban Assets Control Regulations, 31 C.F.R. Part 515 to implement aspects of a policy announced by President Biden’s administration which intends to “increase support for the Cuban people.”

It is common for the Cuba…