Source: The Wall Street Journal As the U.S. encourages aircraft companies to seek licenses for exports to Iran, those companies face potential diversions of their product to the military and engagement with companies still under sanctions, exposing themselves to significant compliance risks, experts say. Those risks, in the months since the Iran nuclear deal was […]

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Source: U.S. Department of the Treasury – OFAC Effective March 29, 2016, the Highly Enriched Uranium (HEU) Agreement Assets Control Regulations, 31 CFR part 540, were removed from the Code of Federal Regulations. OFAC took this action because the national emergency on which part 540 was based automatically terminated. …

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Source: U.S. Department of Commerce – BIS This final rule amends the Export Administration Regulations (EAR) by adding Supplement No. 7 to Part 744 to the EAR to create a temporary general license to specify that “notwithstanding the requirements and other provisions of Supplement No. 4 to part 744, which became effective on March 8, […]

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Source: Reuters The U.N. Security Council agreed on Monday to a Chinese request to remove sanctions on four ships the United Nations had blacklisted for ties to Pyongyang’s arms trade. The agreement came after China secured assurances the vessels would not use North Korean crews, a U.S. official said. China asked the United States on […]

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Source: U.S. Department of Justice – Office of Public Affairs Charges Unsealed against Three Defendants Who Allegedly Engaged in Hundreds of Millions of Dollars of Transactions on Behalf of the Government of Iran and Iranian Entities as Part of a Scheme to Evade U.S. Sanctions An indictment was unsealed in the Southern District of New […]

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Source: Reuters The U.S. government plans to temporarily lift export curbs it imposed on Chinese telecom equipment and smartphone maker ZTE Corp (0763.HK) for alleged Iran sanctions violations, a senior Department of Commerce official said. The Commerce Department restrictions imposed earlier this month made it difficult for ZTE to acquire U.S. components by requiring its […]

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Source: U.S. Department of the Treasury – OFAC The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has issued a Finding of Violation to MasterCard International Incorporated (“MasterCard”) for violations of the Reporting, Procedures and Penalties Regulations (RPPR), 31 C.F.R. part 501….

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Source: U.S. Department of Commerce – BIS This rule revises the EAR to allow cargo on a vessel that is on temporary sojourn to Cuba to transit Cuba on that vessel under a license exception. It also allows license exception shipment of EAR99 items and items controlled for antiterrorism reasons only to persons authorized by […]

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Source: U.S. Department of the Treasury – OFAC Today, the President issued an Executive Order (E.O), “Blocking Property of the Government of North Korea and the Workers’ Party of Korea, and Prohibiting Certain Transactions with Respect to North Korea.” Following that action, the Secretary of the Treasury, in consultation with the Secretary of State, determined […]

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