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Trade Sanctions

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On September 9, 2019, the US Commerce Department’s Bureau of Industry and Security (BIS) published two Frequently Asked Question (FAQ) documents (available here and here) on the Huawei Entity List and Temporary General License (TGL) and the Huawei TGL Extension (the amended TGL issued on August 21, 2019 is available here). See our blog post on the extension of the Huawei TGL here. The key clarifications made by BIS in the two sets of FAQs include the following: Huawei Entity…

On September 6, 2019, the US Treasury Department Office of Foreign Assets Control (OFAC) announced that it is amending the Cuban Assets Control Regulations (CACR) to further financially isolate the Cuban government and implement President Trump’s June 2017 National Security Presidential Memorandum (NSPM) Strengthening the Policy of the United States Towards Cuba (the “CACR Amendment”). The CACR Amendment (1) removes the authorization for banks subject to US jurisdiction to process pass-through or “U-turn” transactions, and (2) eliminates…

On September 9, 2019, the US Treasury Department’s Office of Foreign Assets Control (“OFAC”) issued a new Venezuela-related general license (General License 34) to authorize transactions involving certain Government of Venezuela-related individuals that would otherwise be prohibited by Executive Order (“EO”) 13884. EO 13884 blocks all property of the Government of Venezuela. The “Government of Venezuela” is defined broadly in EO 13884 to include any person who has acted or purported to act directly or indirectly…

On September 4, 2019, the Office of Foreign Assets Control (OFAC) published in the Federal Register a final rule adding regulations (31 C.F.R. Part 582 – Nicaragua Sanctions Regulations) to implement Executive Order 13851 of November 27, 2018 (“Blocking Property of Certain Persons Contributing to the Situation in Nicaragua”). OFAC intends to supplement these regulations with a more comprehensive set of regulations, which may include additional interpretive and definitional guidance, general licenses, and statements of…

On August 30, 2019, the US Commerce Department’s Bureau of Industry and Security (BIS) published Due Diligence Guidance urging companies to employ heightened due diligence when exporting to Pakistan (the Pakistan Guidance). The Pakistan Guidance specifically focuses on (i) supplemental licensing requirements applicable for items (e.g. goods, software, or technology) subject to the Export Administration Regulations (EAR) that may be destined to nuclear or missile activities, and (ii) best practices for screening customers in Pakistan to prevent…

On August 15, 2019 the Russian President issued Decree No. 388, establishing a special record-keeping regime for ownership rights over the securities of particular issuers. According to Decree No. 388, if a person who holds more than 1% of the issuer’s voting shares requests information about other shareholders from the registrar, the registrar provides such information excluding the information on sanctioned Russian shareholders, if any.  This would apply only if the issuer has notified the…

Effective August 19, 2019, the US Commerce Department’s Bureau of Industry and Security (“BIS”) (i) added forty-six (46) additional non-US affiliates of Chinese-headquartered Huawei Technologies Co. Ltd. (“Huawei”) to the Entity List, and (ii) extended and modified the Temporary General License (“TGL”) authorizing certain transactions involving the export, reexport, and transfer of items subject to the Export Administration Regulations (“EAR”) to Huawei and its designated non-US affiliates. The extended and modified TGL (“New TGL”) covers the Huawei entities added…

On August 2, 2019, the US State Department announced targeted sanctions against Russia related to the March 2018 use of a “novichok” nerve agent in an attempt to assassinate UK citizen Sergei Skripal and his daughter Yulia Skripal in the United Kingdom.  This was the second round of sanctions required under the Chemical and Biological Weapons Control and Warfare Elimination Act of 1991 (the “CBW Act”) following the State Department’s determination on November 6, 2018 that Russia…

On July 23, 2019, the US Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) issued an Iran-Related Civil Aviation Industry Advisory (the “Advisory”) that provides cautionary guidance to the civil aviation industry on compliance with US sanctions measures targeting Iran.  The Advisory articulates the following key messages: (i) both US and non-US parties in the civil aviation industry remain at risk of US enforcement actions and economic sanctions for engaging in or supporting unauthorized transfers…

On July 26, 2019, the President issued Executive Order 13882 targeting Mali entitled “Blocking Property and Suspending Entry of Certain Persons Contributing to the Situation in Mali” (“Mali EO”). A White House press release on the Mali EO is available here. The Mali EO provides authorization to the US Treasury Department, in consultation with the Department of State, to sanction individuals who are responsible for or complicit in actions that exacerbate the deteriorating situation in Mali. …