WASHINGTON, D.C. – April 7, 2026 – Akrivis Law Group, PLLC is pleased to announce that on April 3, 2026, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) officially removed Mikhail Zadornov from the Specially Designated Nationals and Blocked Persons (SDN) List.

In a landmark ruling, the U.S. Supreme Court rejected President Trump’s sweeping tariffs, holding that the International Emergency Economic Powers Act¹ (IEEPA) does not authorize the President to impose tariffs.  The Court delivered its opinion on the consolidated cases of Learning Resources, Inc. v. Trump and V.O.S. Selections v. Trump and upheld the conclusion from lower court ruling that the Presidential power to impose tariffs exceeds the authority granted by the Congress under IEEPA, a 1977 statute traditionally used as an authority for the imposition of U.S. sanctions against particular jurisdictions as well as legal and natural persons. As a result of the Supreme Court’s ruling, U.S. importers could potentially collect refunds on excess tariffs paid, with reports suggesting over $175 billion having been paid in such additional tariffs.²

‍

‍

The U.S. Department of Commerce’s Bureau of Industry & Security (BIS) on September 29, 2025 took a significant yet anticipated step by adopting an Interim Final Rule, referred to as the Affiliates Rule, extending the restrictions imposed on entities listed on the Entity List (“EL”) to unlisted entities that are 50% or more owned by one or more of the listed entities.  Presently, naming to the Entity List, the BIS’s strictest listing of non-U.S. parties, was limited to the named entity and none of its legally distinct affiliates or subsidiaries.  This rule drastically changes that by capturing a wider range of related entities whose names would not necessarily be on the list.  This action will have a momentous impact on many companies in China and elsewhere, significantly increasing compliance burdens, particularly on companies doing business in or with sensitive regions.

Farhad Alavi (Washington Partner), Sam Amir Toossi (New York Partner), and Valentin Povarchuk (Washington Counsel) will be attending the 2025 International Bar Association (IBA) Annual Conference in Toronto this year, which will be held between November 2-7.