In the previous Podcast, we started navigating trade in a world of sanctions. We understood that among the numerous measures adopted by the US, the war has brought into focus the use of sanctions as an instrument to penalize Russia and its allies such as Belarus. As a leading user of sanctions, the United States has one of the most comprehensive legal frameworks for the imposition of sanctions that can be mind-boggling for both US and foreign businesses alike. One of the key agencies implementing sanctions in the United States is the Office of Foreign Assets Control. 

The podcast discusses some of the salient aspects of the US sanctions regime as administered by the OFAC. It also discusses how can Indian businesses provide more attention to the implications of sanctions on them, the challenges that Indian businesses face, and how they comply with provisions of OFAC to overcome these challenges.

Audio Source: An article published on the LKS website in December 2022
OFAC - Insights into the US sanctions regime | Lakshmikumaran & Sridharan Attorneys (lakshmisri.com)

Author: Arpit Mehra, Associate LKS