January 21, 2021 - As the Biden Administration begins, global companies are assessing whether they should shift compliance objectives based on the priorities of a new team. Although the Biden China strategy will likely involve a broad range of sanctions, involving not only the Office of Foreign Assets Control (OFAC) but also the Department of Commerce’s Bureau of Industry and Security (BIS) and the Defense Department, among others, Julie Myers Wood’s latest column focuses principally on the OFAC sanctions and framework.