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New U.S. Legislation Extends Sanctions Statute of Limitations and Authorizes New Sanctions: What Companies Need to Know

New U.S. Legislation Extends Sanctions Statute of Limitations and Authorizes New Sanctions: What Companies Need to Know
A new law brings with it a new compliance and enforcement landscape. Our team discusses what companies should consider doing to adapt.

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The 21st Century Peace Through Strength Act, part of H.R. 815, has been signed into law, providing aid to Ukraine, Israel, and Taiwan. The law includes sanctions targeting the provision of sensitive data of U.S. individuals to China, Iran, North Korea, and Russia, as well as creating new national security controls. The statute of limitations for most sanctions violations has been extended from 5 to 10 years, impacting various government programs. The law also includes measures targeting foreign financial institutions engaging in activities contrary to U.S. interests and illicit opioid trafficking. Companies are advised to adapt to the new compliance and enforcement landscape.

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