The Office of Foreign Assets Control (“OFAC”) today announced a new round of sanctions against various Iranian entities including the national airline Iran Air and its domestic air carrier Iran Air Tours. The press release announcing the sanctions highlighted Iran…
The Bureau of Industry and Security (“BIS”) just released settlement documents pursuant to which a regional sales manager at PPG agreed to a $500,000 penalty arising out of one unlicensed export of EAR99 epoxy paint. The paint, valued at $25,0000,…
ABOVE: Kaesong Industrial Park The White House has been ratcheting up U.S. sanctions against North Korea, culminating in Executive Order 13570 on April 18, 2011, which banned all imports from North Korea. Today the Office of Foreign Assets Control (“OFAC”)…
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…