Day: May 15, 2019

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.

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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 […]

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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 […]

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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 […]

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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 […]

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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 […]

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