OFAC: Issues Guidance on Extended Statute of Limitations for IEEPA and TWEA Violations Under New Law

OFAC: Issues Guidance on Extended Statute of Limitations for IEEPA and TWEA Violations Under New Law

Office of Foreign Assets Control released some guidance on the extension of the statute of limitations that was signed into law on April 24, 2024. Section 3111 of the 21st Century Peace through Strength Act extended the statute of limitations from five years to 10 years for civil and criminal violations of the International Emergency Economic Powers Act (IEEPA) or Trading with the Enemy Act (TWEA).

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