As the 49th Group of Seven (G7) Summit gets underway in Japan, the United States, in coordination with several other G7 members, marked the occasion to announce sweeping new sanctions and export controls aimed at “further...more
The Biden administration continues to utilize United States trade sanctions and export controls as a key tool in its efforts to put pressure on China, Myanmar/Burma and Russia. Since our last update, actions by the U.S....more
4/30/2021
/ Biden Administration ,
Bureau of Industry and Security (BIS) ,
Commerce Control List ,
Directorate of Defense Trade Controls (DDTC) ,
ECCNs ,
Economic Sanctions ,
Export Administration Regulations (EAR) ,
Export Controls ,
Office of Foreign Assets Control (OFAC) ,
Popular ,
SDN List
In its first 50 days, the Biden administration has been busy utilizing sanctions and export controls to support its foreign policy priorities of human rights, multilateralism and support for democratic regimes. The U.S....more
On September 20, 2019, the world changed for many exporters of agricultural commodities, medicines and medical devices. Previously, those items had been authorized for export to Iran pursuant to a humanitarian general license...more
Economic sanctions, when imposed by a regime, have the purposes of advancing national security, foreign policy or economic goals. Sanctions can take multiple forms, including restrictions on investment, restrictions on trade,...more
Effective October 17, 2016, the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) and the U.S. Commerce Department’s Bureau of Industry and Security (BIS) have expanded the scope and nature of transactions...more
U.S.-Iranian relations took a major step forward on January 16, 2016, with the arrival of “Implementation Day” under the Joint Comprehensive Plan of Action (JCPOA). Although this may present new business opportunities in...more
President Obama announced yesterday the creation of the new Sectoral Sanctions Identification List (“SSI List”) issued pursuant the Russian sanctions program and the addition of two Russian energy companies and two Russian...more
7/18/2014
/ Banking Sector ,
Banks ,
Barack Obama ,
EU ,
Executive Orders ,
Office of Foreign Assets Control (OFAC) ,
Russia ,
Sanctions ,
SDN List ,
SSI List ,
UK
Last week French bank BNP Paribas (BNPP) became the latest financial institution to be penalized for violating the OFAC sanctions programs. BNPP was accused of processing thousands of transactions through U.S. banks for...more
Benjamin Franklin once said that no nation was ever ruined by trade. While that may be true, those of us in the private sector have seen our kind ruined by failures in trade law compliance far too often. Let’s be honest:...more