October - 2017

Dept. of State published a list to Section 231 of "CAATSA"

Section 231 of the Countering America’s Adversaries Through Sanctions Act (“CAATSA,”) (Pub. L. 115-44,) was enacted on August 2, 2017. The Act states that the President shall impose five or more of the sanctions described in Section 235 of the Act with respect to a person the President determines knowingly, on or after such date of enactment, engages in a significant transaction with a person that is part of, or operates for or on behalf of, the defense or intelligence sector

OFAC issued Belarus General License

General License No. 2C has been completely replaced byGeneral License No. 2D. The Department of the Treasury's Office of Foreign Assets Control (OFAC) authorized the Belarus general license transactions involving blocked entities pursuant to Executive Order (E.O.) 13405. But this general license does not authorize the release of the property blocked pursuant to E.O. 13405. Affected companies by the license are: •Belarusian Oil Trade House •Belneftekhim •Belneftekhim USA,Inc.

Amendments to to revise the existing Validated End-User (VEU) list for the People's Republic of

Validated End-Users (VEUs) are the eligible entities to which items can be exported, reexported, or transferred (in-country) under a general authorization instead of a license. The entities associated with VEUs with their destinations, facilities and items are identified in Supplement No. 7 to part 748 of the EAR. Pursuant to section 748.15. Today, the Bureau of Industry and Security (BIS) amends the Export Administration Regulations (EAR) to revise the existing Validated End

Canada enacts Justice for Victims of Corrupt Foreign Officials Act

The Justice for Victims of Corrupt Foreign Act which follows Sergei Magnitsky Law creates new legal framework. This framework is made in regard to foreign nationals responsible for gross violations of internationally recognized human rights and to make related amendments to the Special Economic Measures Act (SEMA) and the Immigration and Refugee Protection Act. This enactment with Bill S-226 was published to provided in taking the restrictive measures in respect of foreign na

Amendment of Custom's Act by Malaysian Government

Today, Malaysia's Federal Government Gazette has amended an extension to the Customs Act in the regarding Prohibition of Exports order. Several chapters has been affected, see the complete document here. This document comes to action as of today. PST. AG also provides the possibility to follow individual laws. You will be notified, exclusively, when there are changes to the laws you have ordered. If you want to know more about this service, please contact us.

Malysia P.U. (A)310 New Anti-Dumping rule

Today, Malaysia has published a new anti-dumping rule in regard with the concerns towards the companies from People's Republic of China, Republic of Korea, Chinese Taipei and the Kingdom of Thailand and concerns products covered by AHTN CODE 7219 for cold rolled stainless steel in coils, sheets or any other form with the thickness of not more than 6.5 millimetres and width of not more than 1,600 millimetres. The Rates of Duties increase up to 111.16%. To read the whole docume

Miami Residents Pleaded Guilty

Three Miami Residents 1. Ali Caby, a/k/a “Alex Caby,” 40, 2. Arash Caby, a/k/a “Axel Caby,” 43, 3. and Marjan Caby, 34, is charged with conspiracy to Illegally export prohibited articles to Syria. The have violated the International Emergency Economic Powers Act (IEEPA) as they were exporting without a license by Syrian Air, the Syrian government’s airline, was blocked by OFAC for transporting weapons and ammunition to Syria in conjunction with Hizballah, a terrorist organiza

Update of the EU Control List of Dual-Use Items

The EU Commission will adopt its list of dual-use items. Therefore, they published a COMMISSION DELEGATED REGULATION with the amendments. This Regulation will enter into force upon its publication, 2 months after its adoption, provided that the Council and the European Parliament raise no objections within this period. As soon as the data becomes legally binding, the PST.AG will provide them to their customers. Click here to see a summary of the changing numbers To read t

FinCEN issues updates to Customer Due Diligence final rule

The Department of Treasury's Financial Crimes Enforcement Network (FinCEN) has published the final rule for new and existing customer due diligence (CDD) requirements for banks on May 11, 2016. By providing a good CDD framework for Financial Institutions, FinCEN's intention was to promote financial sectors and minimize the disparities in CDD practices among financial institutions. The final rule also amends the anti-money laundering (AML) program. As of this time, this docume