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…
The Fayetteville Observer provides details of an ongoing investigation of Raleigh-based Law Enforcement Associates, Inc. by the Bureau of Industry and Security (“BIS”) with respect to alleged unlicensed exports of surveillance equipment to Morocco, Egypt, the Netherlands, and Great Britain.…
Just how far does the information exception to our economic sanctions programs go? Of course, the traditional response from the Office of Foreign Asset Controls (“OFAC”), the agency that administers the U.S. economic sanctions regimes, is usually “Not very far.”…