BIS
China
Commerce Department
Global Trade
OFAC
Sanctions
SDN

Huawei Temporary License Issued

May 23, 2019:  Effective May 20, 2019, the BIS issued a 90 day license for Huawei and its related entities that were added to the OFAC’s SDN list earlier this month.  This general license is temporary, and will run out on August 19, 2019.  Not all transactions are allowed – check the license language for […]

Read More
EU
Sanctions

EU Cyber Crime Sanctions Regime is Out

May 18, 2019: earlier this week, the EU issued a cyber-attack sanction regime.  The goal is to “deter and respond to cyber-attacks which constitute a threat to EU member states, third States or international organisations” via travel bans and asset freezes on those who are “responsible for cyber-attacks or attempted cyber-attacks, who provide financial, technical […]

Read More
Brexit
Russia
Sanctions
UK

UK Published Regulations on Russia Sanctions Post Brexit

May 15, 2019: Earlier this month, the UK has published regulations that will serve as its Russia Sanctions regulations regime after a no-deal Brexit.  For guidance on UK’s Russia sanctions, click here.  Click the hyperlinks for the full documents.  For a report regarding the purpose of these regulations, click here.

Read More
China
Freshly Brewed
Global Trade
Sanctions

301 Tariff Increase: Tranche 3 Goods on the Water and in Foreign Trade Zones

May 15, 2019:  Effective May 10, 2019 Chinese imports into the US that are covered under the Section 301 third tranche are subject to the new import duty that went from 10% to 25%.  However, according to U.S. Customs and Border Protection updated guidance, the increased duties of 25% will not apply to goods that […]

Read More
Best Practices & Resources
Global Trade
OFAC

OFAC’s Framework for Compliance Commitments

Earlier this month, OFAC published a guidance on compliance commitments.  The full name is A Framework for OFAC Compliance Commitments and you can access it by clicking the foregoing hyperlink. OFAC lists the following 5 essential components of compliance: Management Commitment: OFAC stresses the importance of a “culture of compliance” that is built from top […]

Read More
Crimea
Freshly Brewed
Global Trade
Russia
Sanctions

Ukraine Imposes Sanctions on Russia

May 15, 2019: Earlier today, the Ukrainian Cabinet of Ministers imposed economic sanctions on Russia in the form of import bans on certain products that can be produced domestically, in Ukraine.  The embargo applies to Russian cement, plywood, mineral fertilizers, certain types of industrial products, vehicles and some other products, according to Deputy Prime Minister […]

Read More
Global Trade
OFAC
Sanctions
SDN
Venezuela

Venezuelan Defense & Oil Sectors – OFAC Sanctions

May 10, 2019:  The US Treasury identified the Venezuelan defense sector as a subject to its sanctions.  The May 10 designations were in response to SEBIN’s illegal arrests of National Assembly members and intend to target those actors who have had a hand in the repressive Maduro defense and intelligence sector.  SEBIN is a is […]

Read More
Brexit
UK

UK Adopts EU’s Blocking Statute for No-Deal Brexit

The UK Parliament has approved regulations for post-Brexit blocking statute.  The protecting against the Effects of the Extraterritorial Application of Third Country Legislation essentially causes the EU blocking statute to become a UK law, in the event of a no-deal Brexit.  The blocking statute was most visibly invoked recently in connection with the US stepping […]

Read More
Freshly Brewed
Global Trade
Iran
OFAC
Sanctions

New Executive Order: Targeting Iran’s Metals Sector

Yesterday, the Trump administration issued an Executive Order (“EO”) to take steps to deny Iran revenue derived from exports of Iranian metals that may be used to fund or support the proliferation of WMDs and terrorist activities.  According to the EO, US persons cannot operate or engage in the Iranian metals sector, engage in significant […]

Read More
Cases
Iran
OFAC
SDN

MID-SHIP Group: OFAC Settlement

Last week, OFAC announced that it has reached a $871,837 settlement with MID-SHIP Group LLC (“MID-SHIP”). The Settlement Agreement notes that in 2011, MID-SHIP (a ship broker) processed transfers of funds related to payments  for five apparent violations of the Weapons of Mass Destruction Proliferators Sanctions Regulations. OFAC Notice, Settlement Agreement and Enforcement Information. Per the […]

Read More
The Kitchen in your Inbox
See Us
Feeds from the Kitchen
Mention Us
LINKEDIN
Contact Us