In late 2014, U.S. Customs and Border Protection denied an importer of record’s protest that claimed that it was incorrectly held liable for the payment of antidumping duties assessed on furniture from the People’s Republic...more
The U.S. Department of the Treasury and the U.S. Department of Commerce have released new regulations that loosen restrictions on trade and travel with Cuba....more
Due to costly settlements secured by U.S. regulatory agencies, banks, insurers, and corporations are increasingly inserting rigorous OFAC sanctions compliance language into their credit agreements, insurance policies,...more
The executive order bans the export of goods, technology, and services to the Crimea region of Ukraine, but that’s not all it does.
On December 19, 2014, U.S. President Barack Obama issued Executive Order #13685,...more
No changes in connection with the U.S. – Cuba embargo and sanctions will be effective until OFAC and the Commerce Department formally revise their respective regulations and general licenses to implement the President's new...more
The bill, if passed, would impose severe sanctions on “foreign persons” that make significant investments in Russian crude oil projects....more
Due to costly settlements secured by U.S. regulatory agencies, banks, insurers, and corporations are increasingly inserting rigorous OFAC sanctions compliance language into their credit agreements, insurance policies, and...more
Given the rise in false advertising claims, manufacturers and retailers that wish to label or advertise their goods as being “Made in the USA” must be aware of federal and state laws that place certain requirements on the...more
OFAC stated that an insurance company and its affiliates violated OFAC regulations by providing insurance support services for policies that were issued to, or provided coverage for, persons designated on the OFAC Specially...more
OFAC expands the scope of its 50% rule.
On August 13, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) issued “Revised Guidance on Entities Owned by Persons Whose Property and Interests in...more
The sanctions directly affect companies involved in Russia's oil and gas industries by imposing new export license requirements....more
On March 17, the European Union and United States took further actions with respect to the Ukraine situation, as follows...more
Relief is very limited and alleviates threat of sanctions regarding transactions by non-U.S. or foreign persons.
On January 30, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) published...more
Second phase of the Export Control Reform Initiative allows certain U.S. industries to fall into categories that may make them more attractive to foreign buyers.
On January 6, the Obama administration reached another...more
New rules allow some aircraft-related items to fall into categories that may make them more attractive to foreign buyers.
On October 15, the Obama Administration reached an important milestone of the president’s Export...more
Mandatory requirements cover actions of issuers' foreign subsidiaries and affiliates.
On August 10, 2012, section 219 of the Iran Threat Reduction and Syria Human Rights Act of 2012 (the Act), 112 P.L. 158, added new...more
Grace period through March 8 provided to foreign subsidiaries to wind down Iranian transactions.
On December 26, 2012, the U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) amended the Iranian...more