Comments on: Freight Forwarders: Export Cops or Counselors?

By: Mike Deal

Mike Deal — Fri, 07 Dec 2007 18:40:34 +0000

While Executive Order 12959 was issued prior to ILSA, Executive Order 13059 followed ILSA, and expanded the sanctions in conformity with ILSA. ILSA itself referred to and ratified existing controls, thus ILSA arguably incorporates and expands the Iranian Transaction Regulations by reference.

By: bernhard herkert

bernhard herkert — Fri, 07 Dec 2007 16:59:25 +0000

Dear Mike,TheANNEX to EU Regulation 2271/96 does not
contain the Iran embargo but only the “Iran and Libya Sanctions Act of 1996″ However, the Cuba embargo 31 CFR 515 is covered.This is where US subsidiaries
in Europe are usually in a dilemma
when they introduce one to one their US compliance systems.

By: Mike Deal

Mike Deal — Wed, 05 Dec 2007 15:15:32 +0000

But Clif, EU Regulation 2271/96 prohibits compliance with the US extraterritorial jurisdiction, and the UK House of Lords report last summer the UK Protection of Trading Interst Act goes even further. Proclad, a Scottish company, is clearly covered by both, and the embargoes of both Cuba and Iran are identified in the Annex to EU 2271/96.

The freight forwarder ought to be looking over its shoulders for the shadow of Proclad’s solicitors invoking the clawback provisions.

By: Keith OLeary

Keith OLeary — Wed, 05 Dec 2007 09:07:08 +0000

Interesting to see that the list of Proclad companies includes ‘Proclad International Forging Ltd’

By: Jennifer Kessinger

Jennifer Kessinger — Tue, 04 Dec 2007 22:39:11 +0000

Great post, Clif! I’m going to include a link to it on my website as I often get questions as to what level of knowledge triggers an affirmative action by a freight forwarder or exporter. This case illustrates the issue nicely.

Thanks again,
Jennifer