Turkey’s SSB Subject to Secondary Sanctions & OFAC Publishes New Sanctions List
By EsqSocial Corporation 16/12/20
Yesterday, the United States imposed secondary sanctions on Turkey’s Presidency of Defense Industries (SSB), the country’s main defense procurement entity, for purchasing the Russian S-400 missile system. The sanctions were imposed pursuant to Section 231 of the Countering America’s Adversaries Through Sanctions Act (CAATSA), which authorize secondary sanctions against non-U.S. parties that conduct a “significant transaction” with the Russian defense or intelligence sectors. The action marks...
By: Kelley Drye & Warren LLP