Covington & Burling LLP | Corinne A. Goldstein

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Corinne A. Goldstein

Senior Counsel

Washington +1 202 662 5534 cgoldstein@cov.com Download V-card

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Corinne Goldstein counsels clients on the application to their worldwide operations of U.S. economic sanctions, export controls, and anti-boycott programs. She has particular expertise advising on all of the sanctions programs administered by the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC), including the U.S. sanctions against Iran, Russia, Sudan, Syria, Cuba, North Korea, and Burma/Myanmar, as well as list-based sanctions. Her clients include leading U.S. and non-U.S. companies in the oil and gas, financial services, pharmaceutical, biotechnology, defense, and general manufacturing sectors.

Ms. Goldstein’s work includes advising on complex interpretive issues, preparing corporate policies and procedures, developing compliance and training programs, securing licenses, conducting internal investigations of potential violations of applicable regulations, and representing clients in enforcement proceedings. Ms. Goldstein is a recognized expert and frequent speaker on the application of the U.S. sanctions programs to U.S. and non-U.S. parties. She also counsels clients concerning compliance with the Commerce Department’s Export Administration Regulations (EAR), the Defense Department’s International Traffic in Arms Regulations (ITAR), antiboycott programs administered by the Commerce and Treasury Departments, and restrictions on exports of nuclear technology and equipment administered by the U.S. Energy Department and Nuclear Regulatory Commission.

Ms. Goldstein's environmental practice focuses principally on the environmental aspects of corporate transactions. She routinely works with lawyers in the firm's corporate group, advising on the environmental due diligence aspects of transactions and negotiating and drafting sophisticated and complex contractual provisions.

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On behalf of an Audit Committee, conducted a significant internal investigation of sales by a U.S. energy-sector company and its foreign affiliates to U.S.-sanctioned countries and prepared a voluntary disclosure to the U.S Treasury and Commerce Departments concerning the findings of the investigation.
Advised major international oil & gas companies concerning the application of U.S. sanctions against Iran, Syria, and other U.S.-sanctioned countries to their businesses.
Represented a major non-U.S. financial institution in connection with an investigation into its processing of U.S. dollar transactions for U.S.-sanctioned parties.
Advised a major banking institution concerning the application of U.S. foreign trade controls to various investment and financial activities and trained bank employees.
Developed sanctions compliance policies and procedures for a major financial institution.

Developed policies and procedures relating to foreign trade controls compliance for a medical device company and a scientific research company.
Advised a major defense company concerning the application of the State Department regulations to exports of defense articles and disclosure of controlled technology.
Represented a chemical company in connection with potential Superfund liability pertaining to historic contamination of a major river.
Advised numerous financial and industry clients in connection with environmental liabilities associated with sales and acquisitions of businesses and negotiated complex contractual provisions to address these liabilities.

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Counsel to the Washington Wellesley Club.
Prepared checklist of information and resources to be provided to individuals evacuated to Tennessee as a result of Hurricanes Katrina and Rita.
Represented tenants in connection with claims for unpaid rent.

Wellesley College Business Leadership Council
American Bar Association, Water Quality Committee, Section of Environment, Energy and Resources, Former Vice-Chair
Bowdoin College Parents’ Committee (2001-2003)
National Child Research Center, Board of Trustees (1987-1990); Board Vice-President (1988-1990)
Wellesley College, 1973 Class President (1983-1988)
The George Washington University National Law Center, Assistant Professorial Lecturer in Law (1980-1984)

Developments in U.S. Iran Sanctions

Administration Also Revises Russia Sanctions, Terminates Most Sudan Sanctions On October 13, President Trump announced that he would no longer certify to Congress that the suspension of U.S. sanctions against Iran pursuant to the Joint Comprehensive Plan of Action (“JCPOA”) is “appropriate and proportionate” to the steps that Iran has taken to terminate its ...

Developments in U.S. Iran Sanctions

On October 13, President Trump announced that he would no longer certify to Congress that the suspension of U.S. sanctions against Iran pursuant to the Joint Comprehensive Plan of Action (“JCPOA”) is “appropriate and proportionate” to the steps that Iran has taken to terminate its illicit nuclear program. The President’s much-anticipated announcement does not ...

United States Imposes Additional Sanctions Against North Korea

President Trump has issued an Executive Order (“the Order”), effective September 21, 2017, imposing additional sanctions on persons doing business in certain sectors of the North Korean economy or engaging in certain trade or financial activities involving North Korea. President Trump issued the Order in response to North Korea’s recent intercontinental ...

United States Imposes New Economic Sanctions on Venezuela; Sanctions 16 Entities and Individuals for Dealings with North Korea

Last week, President Trump issued an Executive Order imposing new economic sanctions on the Venezuelan government in response to President Nicolás Maduro’s increasingly authoritarian actions. The new sanctions expand the U.S. restrictions against Venezuela, which previously were comprised of sanctions against a few key individuals, but they do not amount to a ...

Congress Adopts Significant New Sanctions Against Russia, Iran, and North Korea

Congress has passed and sent to President Trump, for his signature or veto, a bill that would impose significant new sanctions against Russia, Iran, and North Korea. The legislation—the Countering America’s Adversaries Through Sanctions Act—enjoys broad bipartisan support, having passed the U.S. House of Representatives on July 25 by a vote of 419-3, and the ...

U.S. Tightens Cuba Embargo; Senate Passes Iran/Russia Sanctions Bill; Arab Nations Boycott Qatar

On Friday, June 16, 2017, President Donald J. Trump announced a tightening of the United States’ long-standing Cuba embargo, rolling back some of the easing implemented during the Obama Administration and described in our prior client alerts. The Trump Administration’s approach is outlined in a National Security Presidential Memorandum, but the full scope of this policy shift will not be known until the Treasury Department’s Office of Foreign Assets Control (“OFAC”) adopts new regulations in the coming months. As OFAC clarified in its Frequently Asked Questions, none of the changes announced by the President last week take effect until the new regulations are issued.

The U.S. Senate has also passed a bill that would codify existing sanctions and impose new sanctions against Russia, and also impose new sanctions against Iran. This bill now goes to the House of Representatives. Additionally, the boycott of Qatar by Saudi Arabia, the United Arab Emirates, and other countries raises issues under the U.S. antiboycott regimes administered by the U.S. Treasury and Commerce Departments. These recent developments potentially present legal risks for companies operating in Russia and the Middle East.

United States Suspends Sudan Sanctions

In response to “positive actions” taken by the Government of Sudan over the past six months, the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) announced today an amendment to the Sudanese Sanctions Regulations (“SSR,” 31 C.F.R. Part 538) that effectively suspends virtually all of the U.S. sanctions against Sudan by authorizing through a general license (hereinafter, the “General License”) all transactions otherwise prohibited by the SSR and two related executive orders (13067 and 13412). The General License will take effect when it is published in the Federal Register, which is scheduled to occur on Tuesday, January 17, 2017.

United States Further Eases Cuba Trade Embargo and Terminates Burma/Myanmar Sanctions; Recent Developments in U.S. Sanctions Against Iran and Russia

Effective today, the U.S. Treasury Department’s Office of Foreign Assets Control (“OFAC”) has amended the Cuban Assets Control Regulations (“CACR”) and the U.S. Commerce department’s Bureau of Industry and Security (“BIS”) has amended the Export Administration Regulations (“EAR”) to expand permissible dealings involving Cuba, further easing the longstanding U.S. trade embargo and continuing a policy shift that the Obama Administration announced in December 2014.

Simultaneous with last Friday’s announcement of these changes, President Obama issued a Presidential Policy Directive that outlines a policy of “normalization” as to U.S.-Cuba relations. The directive states that the embargo — elements of which remain in place — is “outdated” and renews calls for Congress to lift the remaining restrictions.

U.S. Treasury Department Publishes New Guidance on Iran Sanctions Relief

The U.S. Treasury Department’s Office of Foreign Assets Control (“OFAC”) yesterday published new Frequently Asked Questions (“FAQs”) that help clarify the scope of certain measures taken by the United States in January to ease its sanctions against Iran in accordance with the Joint Comprehensive Plan of Action (“JCPOA”), the multilateral agreement signed in mid-July 2015 in which Iran agreed to accept certain limitations on its nuclear program in exchange for sanctions relief. In a prior alert, we described this sanctions relief in detail, as well as concurrent guidance that OFAC issued addressing many of its aspects.

Covington Wins Chambers Award for Excellence in International Trade

WASHINGTON—Chambers USA has selected Covington for its 2016 Award for Excellence in International Trade. The Award for Excellence in International Trade is presented at Chambers USA’s annual awards dinner and awarded to one law firm. The award coincides with the release of the Chambers USA 2016 guidebook, in which Covington received a top-tier ranking nationally ...

United States, EU Implement Significant Iran Sanctions Relief

On January 16, 2016, the United States and the European Union (“EU”) significantly eased their sanctions against Iran, following verification by the International Atomic Energy Agency (“IAEA”) that Iran had carried out its commitments under the Joint Comprehensive Plan of Action (“JCPOA”), the multilateral agreement signed in mid-July 2015 in which Iran agreed ...

Prospects for Iran Sanctions Under the April 2 Nuclear Framework

There are no changes in the application of US sanctions against Iran as a result of the framework parameters regarding Tehran’s nuclear program announced on April 2. Additional sanctions relief will come only if there is a final agreement concluded among Iran, the United States, the United Kingdom, France, Russia, China, Germany, and the European...… Continue ...

Covington Advises MidFirst Bank in Acquisition of Steele Street Bank and Trust

NEW YORK, June 26, 2014 — Covington & Burling advised MidFirst Bank in connection with its agreement to acquire Steele Street Bank. The acquisition, expected to close in the first quarter of 2015, is subject to shareholder and regulatory approval and other customary conditions. MidFirst, one of the five largest privately owned banks in the United States, is a ...

Top Environmental Lawyer Don Elliott Joins Covington

WASHINGTON, DC, January 8, 2013 — E. Donald Elliott, a leading environmental and administrative lawyer and scholar, has joined Covington & Burling, strengthening the firm’s top-ranked environmental and product liability practices. Mr. Elliott has more than 30 years of experience in environmental law, administrative law and product liability and toxic torts. He ...

Covington Lawyers Recognized by D.C. Super Lawyers

WASHINGTON, DC, May 2, 2012 — D.C. Super Lawyers selected 64 Covington & Burling lawyers for its 2012 list of top legal talent. Super Lawyers selects no more than five percent of the total lawyers who practice in Washington based on peer review and the publication’s independent research. Deborah Garza and Robert Long have been named among the “Top 100” for ...

Covington Advises Joy Global in Sale of Drilling Products Business

NEW YORK, August 31, 2011 — Joy Global Inc. (NASDAQ: JOYG), a worldwide leader in high-productivity mining solutions, reported today that it has entered into a definitive agreement to sell the drilling products business of its recently acquired LeTourneau Technologies, Inc. to Cameron International Corporation (NYSE: CAM) for $375 million in cash, subject to ...

Covington Advises Joy Global in Acquisition of LeTourneau Technologies, Inc.

WASHINGTON, DC, May 16, 2011 — Joy Global Inc. (NASDAQ: JOYG), a worldwide leader in high-productivity mining solutions, reported today that it has signed a definitive agreement to acquire 100 percent ownership interest in LeTourneau Technologies, Inc. (“LeTourneau”) from Rowan Companies, Inc. (“Rowan”) (NYSE: RDC) for $1.1 billion in cash. LeTourneau designs, ...

Covington Advises Charlesbank on Acquisition of Peacock Engineering Company

NEW YORK, January 6, 2011 — Charlesbank Capital Partners has announced that it has acquired Peacock Engineering Company, LLC, a leading provider of outsourced food packaging and supply chain management services to many of the nation’s largest branded consumer products companies, from Behrman Capital. The terms of the transaction, which closed on December 21, ...

Covington Advises Atlas Pipeline Holdings L.P. in Acquisition of Upstream Oil & Gas Assets from Atlas Energy, Inc.

NEW YORK, November 9, 2010 — Atlas Pipeline Holdings L.P. and Atlas Energy, Inc. announced today that they have entered into an agreement for Atlas Holdings to acquire from its parent, Atlas Energy, all of Atlas Energy’s partnership management business and certain producing oil & gas assets for total consideration of $250 million, consisting of $220 million in ...

Covington Advises Gilead Sciences on Acquisition of CGI Pharmaceuticals

NEW YORK, June 25, 2010 — Gilead Sciences, Inc. and CGI Pharmaceuticals, Inc. today announced the signing of a definitive agreement pursuant to which Gilead will acquire CGI. Under the terms of the agreement, Gilead will acquire CGI for up to $120 million, the majority as an upfront payment and the remaining based on clinical development progress. Covington & ...

Covington Advises Charlesbank Capital Partners on Recapitalization of Cedar Creek Lumber

NEW YORK, May 21, 2010 — Charlesbank Capital Partners, LLC and Cedar Creek Lumber have announced a recapitalization whereby Charlesbank will acquire majority ownership of Cedar Creek. The transaction, which is structured as an asset purchase, will provide the Cedar Creek business with capital to grow organically and expand within the wholesale building materials ...

Covington Advises Pepco Holdings on $1.7B Sale of Conectiv Energy’s Generation Assets

WASHINGTON, DC, April 21, 2010 — In a statement released today, Pepco Holdings, Inc. announced that it has entered into an agreement to sell the power generation assets of its Conectiv Energy segment to Calpine Corporation for approximately $1.7 billion. Covington & Burling LLP advised Pepco Holdings on the transaction. Pepco Holdings, headquartered in ...

Covington Advises Boehringer Ingelheim on Acquisition of Animal Health Assets from Pfizer and Wyeth

NEW YORK, September 24, 2009 — Boehringer Ingelheim, and its US animal health business Boehringer Ingelheim Vetmedica, Inc., has entered into an agreement with Pfizer to acquire certain assets of Wyeth’s Fort Dodge Animal Health business upon the closing of the global Pfizer-Wyeth merger. Covington & Burling LLP represented Boehringer Ingelheim on the ...

Covington Advises Procter & Gamble on $3.1B Sale of Global Pharmaceuticals Business to Warner Chilcott

NEW YORK, NY, August 24, 2009 — Procter & Gamble today announced the sale of its global pharmaceuticals business to Warner Chilcott Ltd. Covington & Burling LLP advised Procter & Gamble on the transaction. Procter & Gamble is a leading global branded products company, with one of the strongest portfolios of quality, leadership brands in consumer health and ...

Covington Advises Medarex on $2.4B Merger with Bristol-Myers Squibb

NEW YORK, NY, July 22, 2009 — Medarex and Bristol-Myers Squibb announced today that Bristol-Myers Squibb entered into an agreement for Bristol-Myers Squibb to acquire all of the outstanding stock and stock equivalents of Medarex for $16.00 in cash per share, or aggregate consideration of $2.4 billion. Covington & Burling LLP advised Medarex on the ...

Covington Advises Memory Pharmaceuticals in Acquisition by Roche

NEW YORK, NY, December 2, 2008 — Roche and Memory Pharmaceuticals have announced a definitive merger agreement for Roche to acquire all the outstanding shares of Memory Pharmaceuticals. Covington & Burling LLP advised Memory Pharmaceuticals on the deal, valued at approximately $50 million. Roche, headquartered in Switzerland, is one of the world’s leading ...

Covington Advises Pfizer on Acquisition of Serenex

NEW YORK, NY, March 3, 2008 — Pfizer Inc. announced today that it has entered into an agreement to acquire Serenex Inc., a privately held biotechnology company. Covington & Burling LLP advised Pfizer on the transaction. Pfizer, the world’s largest research-based biomedical and pharmaceutical company, discovers and develops innovative medicines to treat and help ...

Covington Advises Encysive on Pfizer Deal

WASHINGTON, DC, February 21, 2008 — Encysive Pharmaceuticals Inc. announced yesterday that it has entered into an agreement to be acquired by Pfizer Inc. Under the terms of the agreement, Pfizer will make a cash tender offer for all issued and outstanding shares of Encysive for $2.35 per share, representing an equity value of approximately $195 million. ...

Covington Advises Joy Global in Acquisition of Continental Global

WASHINGTON, DC, January 8, 2008 — Joy Global Inc., a worldwide leader in high-productivity mining solutions, reported today that it has signed a definitive agreement to acquire 100% of the stock of NES Investment, Co., the parent holding company of Continental Global Inc. Continental designs, manufactures, installs and services highly engineered bulk material ...

Covington Advises Coty on Completion of Del Laboratories Acquisition

NEW YORK, NY, January 2, 2008 — Coty Inc. has completed its acquisition of DLI Holding Corp., the parent company of Del Laboratories, Inc., one of the leading manufacturers of nail care, cosmetics, personal care, and OTC products. Covington & Burling LLP advised Coty on the transaction.Coty Inc. is the world’s largest fragrance company and a recognized leader in ...

Covington Advises Pfizer in Completion of Coley Pharmaceutical Tender Offer

NEW YORK, NY, January 2, 2008 — Pfizer announced on December 31 that it has completed the cash tender offer for the outstanding shares of common stock of Coley Pharmaceutical Group, Inc., a publicly-held biopharmaceutical company specializing in vaccine adjuvant technology and a new class of immunomodulatory drug candidates designed to fight cancers, allergy and ...

Covington Advises Fiber Composites on Acquisition of LP’s WeatherBest

NEW YORK, NY, October 30, 2007 — Fiber Composites has completed its previously announced acquisition of Louisiana-Pacific Corporation’s (LP’s) WeatherBest decking and railing business and manufacturing and distribution facility in Meridian, Idaho. Covington & Burling LLP advised Fiber Composites on the transaction. Fiber Composites is a leading manufacturer of ...

Covington Advises GSI and Charlesbank on Centerbridge Partners Acquisition

NEW YORK, NY, June 26, 2007 — The GSI Group, Inc. announced that its parent company, GSI Holdings Corp., which is controlled by Charlesbank Capital Partners, has entered into an agreement pursuant to which affiliates of Centerbridge Partners, L.P. will acquire a majority stake. Covington & Burling LLP advised The GSI Group and Charlesbank Capital Partners on the ...

Covington Advises Pfizer in Acquisition of BioRexis

NEW YORK, NY, February 1, 2007 — Covington & Burling LLP advised Pfizer in the acquisition of BioRexis, a privately held biopharmaceutical company. The transaction is expected to close in the first or second quarter of 2007. The financial terms of the transaction were not disclosed.BioRexis is developing long-acting GLP-1 receptor agonists for the potential ...

Covington Advises Oregon Steel in $2.3 Billion Acquisition by Evraz Group

NEW YORK, NY, January 17, 2007 — Evraz Group S.A. announced that it successfully completed its tender offer for Oregon Steel Mills, Inc. (NYSE: OS) common stock for $63.25 per share, with approximately 91.5% of the outstanding shares of common stock of Oregon Steel Mills tendered into the offer. The tender offer was the first step of the previously announced ...

Covington Advises Abbott Laboratories in $3.7 Billion Acquisition of Kos Pharmaceuticals, Inc.

NEW YORK, NY, November 6, 2006 — Abbott Laboratories (NYSE: ABT) announced the acquisition of Kos Pharmaceuticals (NASDAQ: KOSP) through a cash tender offer of $78.00 per common share, or $3.7 billion. Covington & Burling LLP represented Abbott in the transaction. Abbott is a global, broad-based health care company devoted to the discovery, development, ...

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Chambers USA - America's Leading Business Lawyers, International Trade: Export Controls & Economic Sanctions (2014-2017)
Chambers Global - named one of the “Leaders in Their Field” for International Trade: Export Controls & Economic Sanctions (USA) (2015-2017)
Legal 500 US, International Trade (2014-2017) and Environment: Litigation (2014-2015)
Named to BTI’s “Client Service All-Stars 2016” list by General Counsels and In-House Lawyers.
Washington DC Super Lawyers, International (2012-2017)

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University of Michigan Law School, J.D., 1976

Wellesley College, B.A., 1973

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