On April 8, 2021, the US Treasury Department published an updated List of Countries Requiring Cooperation With An International Boycott (the âTreasury Listâ). Significantly, Treasury announced that it had removed the UAE from the Treasury List following the UAEâs repeal of its law requiring participation with the Arab League Boycott of Israel and subsequent implementation of the new policy. In connection with its establishment of full diplomatic ties with Israel last year under the UAE-Israel Abraham Accords,…
As reported in our previous client update, on 5 January 2021, the Kingdom of Saudi Arabia, the United Arab Emirates (UAE), Bahrain and the rest of the Gulf Cooperation Council (GCC) member states, along with Egypt, signed the “Al-Ula Declaration” at the 41st GCC Summit held in the city of Al-Ula. This marks the end of a three and a half year boycott against the State of Qatar, which was put in place in June…
On October 13, 2020, the Treasury Department published in the Federal Register a current list of countries which require or may require participation in, or cooperation with, an international boycott (within the meaning of section 999(b)(3) of the Internal Revenue Code of 1986). On the basis of the best information currently available to the Department of the Treasury, the following countries require or may require participation in, or cooperation with, an international boycott: Iraq, Kuwait,…
On 15 July 2020, the U.S. and Gulf Cooperation Council (âGCCâ)-led Terrorist Financing Targeting Center (âTFTCâ) designated six targets affiliated with the Islamic State of Iraq and Syria (âISISâ), including an entity allegedly posing as a charity (and its director) based in Afghanistan that allegedly provided support to ISISâ branch in that country, ISIS-Khorasan (âISIS-Kâ). The entities that were designated are: Al Haram ExchangeTawasul CompanyAl-Khalidi ExchangeNejaat Social Welfare Organization Five of these targets (which includes…
On October 10, 2019, the Department of the Treasury published in the Federal Register a current list of countries which require or may require participation in, or cooperation with, an international boycott (within the meaning of section 999(b)(3) of the Internal Revenue Code of 1986). On the basis of the best information currently available to Treasury, the following countries require or may require participation in, or cooperation with, an international boycott: Iraq, Kuwait, Lebanon, Libya,…
On February 6, 2019, the Treasury Department published in the Federal Register  a current list of countries which require or may require participation in, or cooperation with, an international boycott (within the meaning of section 999(b)(3) of the Internal Revenue Code of 1986). On the basis of the best information currently available to Treasury, the following countries require or may require participation in, or cooperation with, an international boycott (within the meaning of section 999(b)(3)…
On May 16, 2018, the Department of the Treasury published in the Federal Register, in accordance with section 999(a)(3) of the Internal Revenue Code of 1986 (IRC), a current list of countries which require or may require participation in, or cooperation with, an international boycott (within the meaning of section 999(b)(3) of the IRC). On the basis of the best information currently available to Treasury, the following countries require or may require participation in, or…
On 3 October 2017, Bahrain notified the WTOâs Committee on Safeguards that the GCCâs competent authority initiated on 20 September 2017 a safeguard investigation on prepared additives for cements, mortars or concretes (chemical plasticizers).
On April 28, 2017, the Office of the United States Trade Representative (USTR) announced the release of the 2017 âSpecial 301â Report, reviewing global developments on trade and intellectual property (IP) and identifying trading partners with harmful records on protection, enforcement, or market access for U.S. innovators and creators.
On December 2, 2016, the Department of the Treasury published in the Federal Register a current list of countries which require or may require participation in, or cooperation with, an international boycott (within the meaning of section 999(b)(3) of the Internal Revenue Code of 1986).