The U.S. Department of Commerce and U.S. Department of State have been continuously easing restrictions on export-controlled trade between the United States, United Kingdom and Australia to foster technological innovation...more
8/29/2024
/ Amended Rules ,
Artificial Intelligence ,
Australia ,
CFIUS ,
Comment Period ,
Cybersecurity ,
Defense Sector ,
Export Administration Regulations (EAR) ,
Export Controls ,
Exports ,
Innovative Technology ,
Interim Final Rules (IFR) ,
ITAR ,
Military Goods ,
National Security ,
Proposed Rules ,
U.S. Commerce Department ,
UK ,
US State Departments
The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) amended the Cuban Assets Control Regulations (CACR), 31 CFR Part 515, to promote internet freedom in Cuba, support independent Cuban private-sector...more
5/30/2024
/ Amended Regulation ,
Bank Accounts ,
Banking Sector ,
Biden Administration ,
Blocked Person ,
Cuba ,
Cuban Assets Control Regulations (CACR) ,
Economic Development ,
Entrepreneurs ,
Financial Services Industry ,
Foreign Nationals ,
General Licenses ,
Office of Foreign Assets Control (OFAC) ,
Private Sector ,
SDN List
The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) issued General License 44A (GL 44A) on April 17, 2024, replacing and superseding General License 44 (GL 44). On Oct. 18, 2023, OFAC suspended...more
The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) on Oct. 12, 2023, designated two tank vessels and their registered owners as Specially Designated Nationals (SDNs) for allegedly transporting...more
Differences in law as well as cultural differences can prolong international aircraft transactions. Assembling a good team of legal and technical professionals, as well as an aircraft broker familiar with international...more
9/29/2023
/ Aircraft ,
Aviation Industry ,
Contract Terms ,
Cross-Border Transactions ,
Due Diligence ,
Exports ,
Federal Aviation Administration (FAA) ,
Imports ,
Know Your Customers ,
Letters of Intent ,
Purchase Agreement ,
Regulatory Requirements
The Corporate Transparency Act (CTA), enacted by Congress as part of the Anti-Money Laundering Act of 2020, for the first time under federal law, requires the establishment of a centralized, national beneficial ownership...more
9/6/2023
/ Aircraft ,
Anti-Money Laundering ,
Aviation Industry ,
Beneficial Owner ,
Corporate Crimes ,
Corporate Transparency Act ,
Corruption ,
Financial Crimes ,
FinCEN ,
Money Laundering ,
Reporting Requirements ,
Shell Corporations ,
Special Purpose Vehicles ,
Tax Fraud ,
Terrorism Funding
The U.S. Department of Justice (DOJ), Department of Commerce's Bureau of Industry and Security (BIS) and Department of the Treasury's Office of Foreign Assets Control (OFAC) on July 26, 2023, issued a Tri-Seal Compliance Note...more
8/2/2023
/ Bureau of Industry and Security (BIS) ,
China ,
Compliance ,
Department of Justice (DOJ) ,
Economic Sanctions ,
Enforcement Authority ,
Export Controls ,
Exports ,
Iran ,
Joint Policy Statements ,
Joint Statements ,
National Security ,
Office of Foreign Assets Control (OFAC) ,
Russia ,
Sanction Violations ,
Self-Reporting
The U.S. Department of Commerce's Bureau of Industry and Security (BIS) took a number of actions under the Export Administration Regulations (EAR) on May 19, 2023. Here are some of the key U.S. export control actions...more
5/25/2023
/ Belarus ,
Belarus Sanctions ,
Bureau of Industry and Security (BIS) ,
Commerce Control List ,
Economic Sanctions ,
Export Administration Regulations (EAR) ,
Export Controls ,
FinCEN ,
Globally Harmonized System ,
Iran ,
Military End Use ,
Office of Foreign Assets Control (OFAC) ,
Russia ,
SDN List ,
Tariffs ,
Ukraine
As an update to an earlier Holland & Knight alert on the same topic, the U.S. Department of the Treasury Office of Foreign Asset Control (OFAC) has published another determination pursuant to Executive Order 14071 expanding...more
2/8/2023
/ Australia ,
Biden Administration ,
Crude Oil ,
Economic Sanctions ,
EU ,
Executive Orders ,
Exports ,
G7 ,
Maritime Transport ,
Military Conflict ,
Office of Foreign Assets Control (OFAC) ,
Oil & Gas ,
Oil Prices ,
Petroleum ,
Russia ,
Tariffs ,
Ukraine
Update: This Holland & Knight alert has been updated on Sept. 25, 2022, with additional information. In plain English, anytime an aircraft departs the United States, this is an "export" and will fall in one of two "buckets":...more
9/27/2022
/ Aircraft ,
Aircraft Sales ,
Aviation Industry ,
Customs and Border Protection ,
Electronic Filing ,
Export Controls ,
Exports ,
Federal Aviation Administration (FAA) ,
Filing Requirements ,
Foreign Entities ,
Registration Requirement
The U.S., European Union (EU), United Kingdom (U.K.) and many other countries have imposed similar but not necessarily identical sanctions on Russia. In corporate jet transactions, the sanctions laws of several jurisdictions...more
5/10/2022
/ Aircraft ,
Beneficial Owner ,
Due Diligence ,
Economic Sanctions ,
EU ,
Export Controls ,
Federal Aviation Administration (FAA) ,
Office of Foreign Assets Control (OFAC) ,
Prohibited Transactions ,
Russia ,
SDN List ,
U.S. Commerce Department ,
UK ,
Ukraine
In the past week, the White House has launched additional salvos of sanctions against the Russian Federation in response to its continued efforts to undermine the sovereignty and territorial integrity of Ukraine. This Holland...more
3/15/2022
/ Biden Administration ,
Economic Sanctions ,
Energy Sector ,
Executive Orders ,
General Licenses ,
Imports ,
Office of Foreign Assets Control (OFAC) ,
Russia ,
Shipping ,
Trade Restrictions ,
Ukraine
Please note: This Holland & Knight alert has been updated on Sept. 13, 2021, with additional information.
In plain English, anytime an aircraft departs the United States, this is an "export" and will fall in one of two...more
9/14/2021
/ Aircraft ,
Aircraft Sales ,
Aviation Industry ,
Bureau of Industry and Security (BIS) ,
Customs and Border Protection ,
Export Administration Regulations (EAR) ,
Export Controls ,
Exporters ,
Exports ,
Federal Aviation Administration (FAA) ,
Filing Requirements ,
ITAR
There are two common types of aircraft exports: 1) permanent exports – where the aircraft is physically exported (i.e., flown) from the U.S. as part of a sale, lease or transfer of possession and control to a foreign person,...more
2/23/2021
/ Aircraft ,
Aircraft Sales ,
Aviation Industry ,
Bureau of Industry and Security (BIS) ,
Customs and Border Protection ,
Export Administration Regulations (EAR) ,
Export Controls ,
Exporters ,
Exports ,
Filing Requirements ,
ITAR
The U.S. Department of State, U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) and the U.S. Coast Guard (USCG) on May 14, 2020, issued a 35-page Sanctions Advisory that focuses on sanctions compliance...more
The COVID-19 crisis has revealed the extent to which the United States and other countries are dependent upon a well-functioning global supply chain of critical medical supplies, including ventilators and Personal Protective...more
The Federal Emergency Management Agency (FEMA) on April 8, 2020, released an advance copy of a temporary rule banning exportation of five types of Personal Protective Equipment (PPE) from the United States without its...more
In late January 2020, Airbus agreed to pay nearly $4 billion and to take a number of remedial measures in order to resolve alleged corruption violations with the French National Financial Prosecutor's Office (PNF), the United...more
2/27/2020
/ Airbus ,
Airlines ,
Anti-Corruption ,
Aviation Industry ,
Bribery ,
Brokers ,
Chief Compliance Officers ,
Compliance ,
Consultants ,
Corporate Counsel ,
Corruption ,
Counterparties ,
Department of Justice (DOJ) ,
Enforcement Authority ,
Export Credit Agency (ECA) ,
Financial Institutions ,
Foreign Corrupt Practices Act (FCPA) ,
France ,
Government Investigations ,
Sales Commissions ,
Serious Fraud Office (SFO) ,
Settlement ,
Third-Party Risk ,
UK ,
UK Bribery Act ,
US Department of State
The U.S. Office of Foreign Assets Control (OFAC) on Sept. 25, 2019, designated COSCO Shipping Tanker (Dalian) Co. Ltd. (COSCO Dalian), Kunlun Shipping Company Ltd., and certain other entities and individuals as Specially...more
10/8/2019
/ China ,
Controlled Foreign Corporations ,
Economic Sanctions ,
Executive Orders ,
Exports ,
Iran Sanctions ,
Maritime Transport ,
Office of Foreign Assets Control (OFAC) ,
Oil & Gas ,
Petroleum ,
Risk Mitigation ,
Safe Harbors ,
SDN List ,
Secondary Sanctions ,
Trump Administration ,
Vessels
• President Donald Trump saying at the recent G20 Summit in Japan that American companies could keep selling products to Huawei Technologies Co. Ltd. (Huawei) was another installment in the drama surrounding the Chinese tech...more
7/17/2019
/ Bureau of Industry and Security (BIS) ,
China ,
Entity List ,
Executive Orders ,
Export Administration Regulations (EAR) ,
Exports ,
Foreign Adversaries ,
Foreign Policy ,
General Licenses ,
Huawei ,
National Security ,
Office of Foreign Assets Control (OFAC) ,
Prohibited Transactions ,
Sanction Violations ,
Technology Sector ,
Telecommunications ,
Trade Relations ,
Trade Wars ,
Trump Administration ,
U.S. Commerce Department ,
US Trade Policies
• The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) and the U.S. Department of Commerce's Bureau of Industry and Securities (BIS) announced changes to the Cuban Assets Control Regulations (CACR)...more
6/6/2019
/ Aircraft ,
Airline Passengers ,
Bureau of Industry and Security (BIS) ,
Cuba ,
Cuban Assets Control Regulations (CACR) ,
Export Administration Regulations (EAR) ,
Federal Aviation Administration (FAA) ,
Foreign Relations ,
National Security ,
Office of Foreign Assets Control (OFAC) ,
p2p ,
Sanctions ,
Trump Administration ,
Vessels
• Effective May 2, 2019, the Trump Administration will not continue the waiver against lawsuits under Title III of the Cuban Liberty and Democratic Solidarity (LIBERTAD) Act of 1996, also known as the Helms-Burton Act.
•...more
4/26/2019
/ Civil Liability ,
Cuba ,
Extraterritoriality Rules ,
Foreign Nationals ,
International Travel ,
Office of Foreign Assets Control (OFAC) ,
Personal Jurisdiction ,
Trafficking ,
Trump Administration ,
US State Departments ,
WTO
• Family offices are increasingly involved in structuring and managing the ownership or use of private aircrafts for business and personal travel.
• The optimal structure will vary depending on a number of factors,...more
3/14/2019
/ Aircraft ,
Aircraft Equipment ,
Aviation Industry ,
Excise Tax ,
Family Offices ,
Federal Aviation Administration (FAA) ,
Personal Property ,
Property Tax ,
State and Local Government ,
Succession Planning ,
Tax Liability ,
Tax Planning ,
Timeshare Arrangement
• National Security Advisor Ambassador John Bolton issued a statement threatening sanctions against non-U.S. banks for facilitating illegitimate transactions with certain Venezuelan individuals and entities.
• This...more
3/14/2019
/ Banking Sector ,
Blocked Entities ,
Cross-Border Transactions ,
Economic Sanctions ,
Executive Orders ,
Foreign Financial Institutions (FFI) ,
Foreign Relations ,
Office of Foreign Assets Control (OFAC) ,
SDN List ,
Secondary Sanctions ,
Venezuela
• The Trump Administration is allowing U.S. nationals to pursue civil actions against certain Cuban entities under Title III of the Helms-Burton Act (Libertad Act) for trafficking in property confiscated by the Cuban...more