Freshly Brewed

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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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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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 […]

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Cuba
Freshly Brewed
Sanctions

Helms-Burton: Claims against Companies in Cuba Are Underway

Earlier this week, litigation under Title III of the Helms-Burton Act for “traffick[ing] in stolen properties” begun when plaintiffs started to file claims against US companies legally doing business in Cuba.  Specifically, Carnival Corporation that sails to Havana (under an OFAC license) was named as a defendant in law suits filed in Miami by plaintiffs seeking […]

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Freshly Brewed
Global Trade
Iran
OFAC
Sanctions

Stanley Black & Decker OFAC Settlement: Iran Exports

March 28, 2019:  Yesterday, the Treasury Department issued a notice of settlement with Stanley Black & Decker, Inc. and its Chinese subsidiary for alleged violations of Iran sanctions.  The $1,869,144 settlement is related to allegations that in 2013 and 2014 the Chinese sub “exported and attempted to export 23 shipments of power tools and spare […]

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Anti-Trust
Cases
EU
Freshly Brewed

Google Fined by the EU for Antitrust Violations

Earlier today, the the European Commission issued a press release noting that it has fined Google €1.49 billion for breaching EU antitrust rules. According to the release, Google abused its market dominance by imposing restrictive clauses in contracts with third-party websites, preventing them from placing their search ads on these websites. The Commission found that: […]

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Anti-Corruption
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Global Trade
OFAC
Sanctions
Venezuela

Treasury Sanctions Venezuela’s State Gold Mining Company – Minerven

Earlier today, the Treasury Department announced that OFAC designated “VG Compania General de Mineria de Venezuela CA, or Minerven, the Venezuelan state-run ferrous metals mining company, and its President, Adrian Antonio Perdomo Mata, targeting the illicit gold operations that have continued to prop up the illegitimate regime of former President Nicolas Maduro.” The following individual […]

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Freshly Brewed
OFAC
Sanctions
Venezuela

Venezuela Sanctions: OFAC Extends General License Related to PDVH, CITGO

March 14, 2019:  OFAC announced in a release today that it extended the expiration of a general license related to PDV Holding, Inc. (PDVH), and CITGO Holding, Inc. (CITGO).  For CITGO, General License 7A provides an 18 month authorization that self renews on a monthly basis.  This will enable CITGO to maintain operations in markets that […]

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Freshly Brewed
Global Trade
OFAC
Sanctions

Treasury Department Introduces CAPTA List for Sanctioned Foreign Financial Institutions

March 14, 2019:  Today, the Treasury Department’s OFAC introduced the Correspondent Account or Payable-Through Account Sanctions (“CAPTA”) List, which replaces the List of Foreign Financial Institutions Subject to Part 561.  The CAPTA List contains information on those foreign financial institutions that are sanctioned and, therefore, for which the opening or maintaining of correspondent account or […]

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Freshly Brewed
Global Trade
OFAC
Russia
Sanctions
Venezuela

OFAC Designates Russian Bank Evrofinance Mosnarbank as an SDN

March 11, 2019:  OFAC issued an update to its Venezuela SDN designations today.  Russian bank Evrofinance Mosnarbank that is based in Moscow, is jointly owned by Russian and Venezuelan state-owned companies, was designated as an SDN.  According to the Treasury Department’s Release, today’s action was taken pursuant to Executive Order (E.O.) 13850 and targets a […]

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