United States Sanctions Turkish Government over Syrian Incursion
On October 14, 2019, President Trump issued an executive order authorizing sanctions targeting the Turkish government in connection with its military operations in northern Syria. The U.S. government also announced a 50% tariff on imports of steel from Turkey and cancellation of trade agreement negotiations.
The initial sanctions announced by the Treasury Department’s Office of Foreign Assets Control (OFAC) under the order are symbolic, narrowly targeted and unlikely to have a substantial practical impact on either Turkey’s economy or on U.S. persons required to comply with the sanctions. It is quite possible, however, that additional, more significant sanctions will be imposed in short order.
This communication, which we believe may be of interest to our clients and friends of the firm, is for general information only. It is not a full analysis of the matters presented and should not be relied upon as legal advice. This may be considered attorney advertising in some jurisdictions. Please refer to the firm's privacy notice for further details.
Copy link to share post