On May 6, 2021, the Department of the Treasury’s Office of Foreign Assets Control published a frequently asked question related to Luokung Technology Corp. and its ongoing lawsuit challenging the validity of sanctions imposed under Executive Order 13959, “Addressing the Threat From Securities Investments That Finance Communist Chinese Military Companies.” According to FAQ 893, in accordance with a May 5, 2021 order entered in the US District Court for the District of Columbia, OFAC is preliminarily enjoined from enforcing any EO 13959 prohibitions against Luokung. As a result, no sanctions will be imposed against the company until a subsequent order is entered by the court.
May 6, 2021
OFAC issues frequently asked question related to Luokung Technology Corp.
Related by Topic
New Post
OFAC designates one individual and one entity for supporting a corrupt patronage network in Bosnia and Herzegovina
November 7, 2024
News Alert
New Post
U.S. Department of Treasury announces new rule expanding CFIUS ability to review certain real estate transactions
November 5, 2024
News Alert
New Post
DOJ announces arrest of Turkish national for his role in a sanctions evasion scheme involving the transport of Venezuelan oil
November 5, 2024
News Alert