May 17, 2023

US and EU sanctions authorities meet to enhance partnership and improve sanctions design and implementation

The US Department of the Treasury recently reported on May 16, 2023, that the United States and the European Union had met in order to enhance their bilateral partnership by committing to work more closely on sanctions.  The announcement followed three days of meetings attended by the US Office or Foreign Assets Control (“OFAC”), the European External Action Service (“EEAS”), and the European Commission Directorate-General of Financial Stability, Financial Services and Capital Markets Union (“DG FISMA”).  These technical meetings, which occurred in Brussels from April 26-28, allowed the teams to address shared foreign policy goals, exchange information on best practices, and discuss ways to improve capabilities related to sanctions design, implementation and compliance.  OFAC, EEAS, and DG FISMA also discussed methods of preventing sanctions from affecting humanitarian trade, and ways to preserve internet freedom for persons in sanctioned jurisdictions.

Department of Treasury Press Release