Latest Posts
Search for:
Author

Terence Gilroy (US)

Browsing

Sanctions and export controls week: Geopolitical disruption and global sanctions and export controls developments

By , , , , , , , , , , , , , , , and 6 Mins Read

For the second week of our Annual Compliance Conference, we discussed key trade compliance issues impacting our clients globally. Specifically, we discussed the trade policy response of the US, EU and UK to ever increasing geopolitical disruption, global strategies for handling sanctions regulators and enforcement, and key global sanctions and export controls developments. Trade policy response to geopolitical disruption – China and beyond – Tuesday 7 May Speakers: Tristan Grimmer (Partner, London), Sylwia Lis (Partner,…

Multijurisdictional: 2021 Virtual Global Trade Conference

By , , , , , , , , , , , , , , , , , , , , , , , , , , and 1 Min Read

Baker McKenzie’s Global Compliance News Blog published “Multijurisdictional: 2021 Virtual Global Trade Conference,” which can be viewed here.

US – Biden Administration revokes Executive Orders banning certain Chinese software applications

By , and 3 Mins Read

On June 9, 2021, the Biden Administration issued Executive Order 14034, “Protecting Americans’ Sensitive Data from Foreign Adversaries” (“EO 14034”). EO 14034 revokes three executive orders issued by the Trump Administration that effectively banned certain Chinese connected software applications (“apps”) from operating in the United States. Although EO 14034 revokes these legal authorities and calls for their implementing rules to be rescinded, EO 14034 signals that the Biden Administration will continue to analyze the national security risks presented…

US – OFAC amends and reissues Somalia Sanctions Regulations, adds certain General Licenses

By , and 3 Mins Read

On April 28, 2021, the US Treasury Department’s Office of Foreign Assets Control (OFAC) issued a final rule amending and reissuing the Somalia Sanctions Regulations, 31 C.F.R. Part 551 (“Regulations”) to further implement two existing Executive Orders, Executive Order 13536 of April 2010 and Executive Order 13620 of July 2012, and to replace the prior Somalia Sanctions Regulations that were published in May 2010 in abbreviated form. The Regulations also add a number of definitions and provisions to bring the Regulations in line…

US – Biden Administration revokes International Criminal Court Sanctions

By , and 1 Min Read

On April 1, 2021, President Biden signed Executive Order 14022, revoking Executive Order 13928 “Blocking Property of Certain Persons Associated with the International Criminal Court” (the “ICC EO”), which authorized the imposition of sanctions and visa restrictions on non-US ICC officials. The US Treasury Department’s Office of Foreign Assets Control concurrently removed two senior ICC officials from the Specially Designated Nationals and Blocked Persons List (“SDN List”), including Fatou Bensouda, the ICC’s chief prosecutor. The…

US Government sanctions Burmese military conglomerates, issues wind-down and humanitarian General Licenses and tightens export controls for Burma (Myanmar)

By , , , and 8 Mins Read

The US Government has imposed a series of sanctions against Myanmar Economic Corporation Limited (MEC) and Myanma Economic Holdings Public Company Limited (a.k.a. Myanmar Economic Holding Limited) (MEHL), two military-affiliated conglomerates, in response to the February military coup in Burma (Myanmar). The combined restrictions are likely to have a significant impact on business activities in Burma as these conglomerates have substantial interests and joint ventures in several sectors of the Burmese economy, including trading, natural…

US – BIS implements the rescission of Sudan’s designation as a State Sponsor of Terrorism

By , and 4 Mins Read

On January 14, 2021, the US Commerce Department’s Bureau of Industry and Security (BIS) amended the Export Administration Regulations (EAR) to remove Sudan’s designation as a State Sponsor of Terrorism (SST) (the “Amendments”). The Amendments implement the rescission of Sudan as an SST as announced by the Trump Administration in December 2020 by removing Anti-Terrorism (AT) and related controls on Sudan, which had remained in force following the US Government’s revocation of comprehensive sanctions in October 2017. …

US – OFAC issues FAQs clarifying restrictions on purchasing securities of certain Chinese companies

By , and 6 Mins Read

During the first two weeks in January, the Office of Foreign Assets Control (OFAC) published a series of FAQs related to Executive Order 13959, “Addressing the Threat from Securities Investments that Finance Communist Chinese Military Companies” (the “CCMC EO” or the “EO”). That EO aimed to prevent US investors from financing the development of the People’s Republic of China’s military, intelligence, and security capabilities by prohibiting purchases of securities of certain “Communist Chinese military companies.” Our prior blog…

US – BIS extends comment period for Foundational Technologies until November 9

By and 1 Min Read

On October 9, the Department of Commerce’s Bureau of Industry and Security (BIS) extended the comment period for the advance notice of proposed rulemaking (ANPRM) on criteria of “foundational technologies.” Comments may now be submitted through November 9, 2020; two weeks after the original deadline of October 26. BIS also clarified it will accept confidential business information from commenters. Filers submitting confidential information should clearly identify the confidential portion at the time of the submission and must…

President Trump signs into law the Hong Kong Autonomy Act

By , and 2 Mins Read

On July 14, 2020, President Trump signed into law the Hong Kong Autonomy Act (“HKAA”) providing for the imposition of sanctions on foreign persons who materially contribute to the undermining of Hong Kong’s autonomy by the Government of the People’s Republic of China (PRC) and foreign financial institutions who engage in significant transactions with such foreign persons. During a press conference announcing the signing of the HKAA, President Trump also indicated that he had signed an Executive…