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United Arab Emirates

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On April 8, 2021, the US Treasury Department published an updated List of Countries Requiring Cooperation With An International Boycott (the “Treasury List”). Significantly, Treasury announced that it had removed the UAE from the Treasury List following the UAE’s 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,…

On January 27, 2021, CBP issued CSMS #45967303 – United Arab Emirates Section 232 Aluminum Absolute Quota limits beginning February 3, 2021, to implement Presidential Proclamation 10139. However, on February 1, 2021, President Biden revoked Proclamation 10139 before it was to take effect and restored the 10% duties for aluminum from the UAE. As a result, CBP issued CSMS #46027083 – United Arab Emirates Section 232 Aluminum Presidential Proclamation 10139 REVOKED February 1, 2021, which…

On January 25, 2021, the Federal Register published Proclamation 10139 of January 19 – Adjusting Imports of Aluminum Into the United States, which modified the terms of Proc. 9704 of March 8, 2018, imposing a 10% additional ad valorem duty on aluminum imports from most countries under section 232 of the Trade Expansion Act of 1962, as amended (19 U.S.C. 1862). Proclamation 10139 added the United Arab Emirates (UAE) to the list of countries exempt…

On January 27, 2021, CBP issued CSMS #45967303 – United Arab Emirates Section 232 Aluminum Absolute Quota limits beginning February 3, 2021, which is provided below: The 2021 Section 232 United Arab Emirates Absolute Quota Aluminum threshold is announced on Quota Bulletin QB 21-701A at: https://www.cbp.gov/trade/quota/bulletins. All entries submitted From January 1 through March 31, 2021 will count towards the Q1 quota limit. Entries as of February 3, 2021 must utilize HTS 9903.85.06 through 990385.08…

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…

          January 2021         GCC and Egypt sign the “Al-Ula Declaration”, ending the Qatar boycott                  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, paving the way…

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 29 August 2020, the United Arab Emirates (UAE) Government’s Emirates News Agency (Wakalat Anba’a al Emarat, or ‘WAM’) publicly announced that H.H. Sheikh Khalifa Bin Zayed Al Nahyan, President of the UAE, issued Federal Decree Law No. 4 of 2020 (the “UAE Israeli Boycott Repeal Law“), abolishing Federal Decree Law No. 15 of 1972 Concerning the Arab League Boycott of Israel (the “UAE Israeli Boycott Law“). The UAE Israeli Boycott Repeal Law follows the announcement of the…

On 15 July 2020, the U.S. and Gulf Cooperation Council (“GCC”)-led Terrorist Financing Targeting Center (“TFTC”) designated six targets affiliated with the Islamic State of Iraq and Syria (“ISIS”), including an entity allegedly posing as a charity (and its director) based in Afghanistan that allegedly provided support to ISIS’ branch in that country, ISIS-Khorasan (“ISIS-K”). The entities that were designated are: Al Haram ExchangeTawasul CompanyAl-Khalidi ExchangeNejaat Social Welfare Organization Five of these targets (which includes…

The US Department of the Treasury’s Office of Foreign Assets Control (OFAC) recently designated as Specially Designated Nationals (“SDNs”) a number of entities linked to the Iranian steel, aluminum, and iron sectors that are likely to be of particular interest for companies doing trade in or with the Middle East or financial institutions financing trade and business in the region. This article highlights OFAC’s recent action and outlines some practical considerations. On 25 June 2020,…