News & Analysis as of

Iran Sanctions Exports

Dealing with Violations in Export and Import Transactions

by Williams Mullen on

You are the general counsel or CEO of your company. Your compliance manager comes into your office and tells you that he/she may have discovered an export violation within the company. Or perhaps you have received a directed...more

Red Notice Newsletter - March 2017

Anticorruption Developments - SEC Chairman Nominee Jay Clayton Receives Confirmation Hearing - On March 23, 2017, SEC Chairman Nominee Jay Clayton testified before the Senate Banking Committee at his confirmation...more

Potential Options for U.S. Sanctions on Iran Under the Trump Administration

by Jones Day on

In response to reports that Iran conducted a ballistic missile test launch in February 2017, a former senior U.S. government official announced—and President Trump later echoed over Twitter—that the United States is...more

Lessons from the Historic ZTE Enforcement Action

by Bass, Berry & Sims PLC on

On March 7, 2017, Chinese telecommunications company, Zhongxing Telecommunications Equipment Corp. (ZTE), signed on to three separate settlement agreements with the United States, agreeing to pay $892 million for violations...more

Red Notice Newsletter - February 2017

Acting SEC Chief Limits Subpoena Authority to Enforcement Division Acting Director - On February 15, 2017,The Wall Street Journal reported that the acting Chair of the Securities and Exchange Commission (SEC), Michael...more

OFAC Sanctions: No Entity Too Small or Too Far for Enforcement

by Bass, Berry & Sims PLC on

- Canadian bank pays penalties for U.S. dollar transactions involving Cuba and Iran - Bank receives Finding of Violation – but no penalty – for violations by European subsidiaries - Disclosure and cooperation...more

Obama Administration Issues Changes to Iran Sanctions Regulations That Benefit Exporters of Medicine, Medical Devices and...

by Hogan Lovells on

On December 23, 2016, the U.S. Treasury Department’s Office of Foreign Assets Control (“OFAC”) published a number of changes to the Iranian Transactions and Sanctions Regulations (“ITSR,” 31 C.F.R. Part 560) that expanded the...more

"OFAC Eases Restrictions on the Export of Medical Devices to Iran"

On December 22, 2016, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) announced amendments to the general license (GL) that authorizes the export or re-export of certain medical devices to Iran....more

OFAC Eases Restrictions on Medical and Agricultural Exports to Iran

by Alston & Bird on

On December 23, 2016, the Treasury Department’s Office of Foreign Assets Control (OFAC) issued a final rule amending the Iranian Transactions and Sanctions Regulations (ITSR) to expand the scope of permissible exports and...more

OFAC Expands Iran-Related Authorizations for Medicine, Medical Devices and Agricultural Commodities

On December 23, 2016, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) issued a Final Rule amending the Iranian Transactions and Sanctions Regulations, 31 C.F.R. Part 560 (ITSR) to expand the...more

Happy New Year: OFAC Expands Exports of Medical Devices to Iran

by Bass, Berry & Sims PLC on

Effective December 23, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) amended the Iranian Transactions and Sanctions Regulations (ITSR) to expand the scope of medical devices that can be exported to...more

2017 Key Trade Issues: U.S. Embargoes and Economic Sanctions on Iran, Russia, and Cuba

by Polsinelli on

U.S. embargoes and economic sanctions on countries such as Iran, Russia and Cuba were discussed at length by both candidates during the 2016 Presidential campaign, and President-Elect Trump has stated that he intended to...more

Presidential Pulse: 10 Key Ways the Trump Administration May Impact The Way You Do Business in 2017

by Seyfarth Shaw LLP on

Today marks just over a month since Donald Trump was elected as the next President of the United States. As each cabinet appointment is announced, we get more clues to help us predict which direction the Trump...more

Still Serious About Sanctions: OFAC Settles Violations Involving Cuba and Iran

by Bass, Berry & Sims PLC on

Lest U.S. companies think that Cuba and Iran are entirely open for business, a U.S. government settlement announced earlier this month with National Oilwell Varco, Inc. (NOV), a U.S. oilfield services company, will serve as a...more

Red Notice Newsletter - October 2016

ANTICORRUPTION DEVELOPMENTS – DOJ Issues First-Ever Declinations Requiring Disgorgement of Profits to Resolve FCPA Violations - On September 29, 2016, the Department of Justice (DOJ) for the first time announced...more

Tokyo Dispute Resolution and Crisis Management Newsletter - June 2016

by King & Spalding on

Dispute-Management - Best Practices in Construction Projects - Introduction - What do you do when an unforeseen event threatens to increase the costs or time necessary to complete a major construction project?...more

Trade & Manufacturing - May 2016

by King & Spalding on

Relief from Unfair Imports of Plastic Retail Carrier Bags to Continue for Five More Years - On April 27, the International Trade Commission (Commission) issued the public views of its unanimous determination in favor of...more

Opening Iranian Skies: OFAC Issues General License I to Jumpstart the Commercial Aviation Industry, and Iran Tests its Ballistic...

by King & Spalding on

The sanctions stranglehold on Iran is loosening as the Obama Administration continues to chip away at restrictions on the commercial passenger aircraft industry. Pursuant to the phased enactment of the Joint Comprehensive...more

Epsilon Case Highlights the Need for Sanctions Due Diligence on Resellers

by Kelley Drye & Warren LLP on

As global companies begin to reenter the Iranian market, a decision issued by the U.S. District Court for the District of Columbia is an important reminder that resellers and distributors can generate liability for U.S....more

U.S. Commerce Department Imposes Sanctions on Chinese Global Telecommunications Manufacturer ZTE Corporation

by Goodwin on

On Tuesday, March 8, the U.S. Department of Commerce placed Zhongxing Telecommunications Equipment Corporation, known as ZTE, on the Entity List, along with affiliates ZTE Kangxun Telecommunications Ltd., Beijing 8-Star...more

Implementation Day Arrives For Iran Agreement

by King & Spalding on

On January 16, the International Atomic Energy Agency announced that Iran has fully implemented its nuclear-related commitments described under the Joint Comprehensive Plan of Action (JCPOA) bringing about Implementation Day...more

What about Canada and Australia? Iran Sanctions changes beyond the U.S. and EU

There has been much discussion of U.S. and EU sanctions changes following Implementation Day under the Joint Comprehensive Plan of Action (“JCPOA”), but a number of countries had imposed sanctions for Iran and it is worth...more

Iran Sanctions Changes: Impact on the Aviation Sector

With “Implementation Day” came the lifting of certain key U.S. and EU sanctions on the civil aviation industry. However, many prohibitions still remain, and licensing requirements may attach to U.S. persons or non-U.S....more

Navigating Iran Sanctions after JCPOA’s Implementation Day

by Morrison & Foerster LLP on

The announcement by the International Atomic Energy Agency on January 16, 2016, that the Government of Iran has satisfied its commitments under the Joint Comprehensive Plan of Action (“JCPOA”), has triggered “Implementation...more

Iran Sanctions and the Implementation of the JCPOA: Lots of Changes, but Little Impact on U.S. Businesses?

by McGuireWoods LLP on

In recent days, the news has been full of stories referring to the “end” or “lifting” of U.S. sanctions against Iran, actions that were taken after the International Atomic Energy Agency confirmed on January 16, 2016, that...more

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