Today the Bureau of Industry and Security (“BIS”) published a final rule, effective immediately,* implementing the new license exception Strategic Trade Authorization (STA). Under this new license exception, licenses will not be required for exports to 36 countries, including Canada,…
Although the UAE is still probably the most significant country involved in the transshipment of U.S. origin goods to Iran, the Iranian procurement network is extending to other countries as well. A recent article on SETimes.com noted on expansion of…
Talk about late fees. The Bureau of Industry and Security (“BIS”) responded to a payment under a Settlement Agreement that was nine days late by reimposing $2 million dollars of the penalty that had been originally suspended and by accelerating…
ABOVE: Mark C. Toner The State and Treasury Departments announced today new Iranian sanctions against Iran’s Islamic Revolutionary Guard Corps, the Basij Resistance Force, and Iran’s national police and its chief. These sanctions, which would block all assets in the…
ABOVE:Asst. Sec. Steinberg On May 24, the State Department announced sanctions against a number of companies including Petróleos de Venezuela (“PDVSA”). According to the State Department press release, PDVSA was sanctioned under the Iran Sanctions Act (“ISA”) of 1996, as…