The United Kingdom’s Export Control Organisation has updated seven open general export licenses (OGELs) and one open general transhipment license. Reflecting the changes to the EU dual-use export control list in Annex I to Regulation (EC) No 428/2009 from 15 December 2018, these updates affect dual-use items, low value shipments, exports to Turkey, and exports with relaxed conditions. These licenses will come into force on 4 January 2019.
On 20 December 2018 U.S President Trump signed H.R. 1918, the ‘‘Nicaragua Human Rights and Anticorruption Act of 2018.’’ This Act issues new sanctions against Nicaragua, specifically seeking to limit loans from international financial institutions that support the Nicaraguan government, with exceptions for financial assistance that provides basic human needs or advances democracy in Nicaragua. The Act also includes targeted sanctions (asset blocking and travel bans) against a
On 21 December 2018 the United Kingdom’s HM Revenue and Customs published an updated ‘partnership pack’ to help businesses prepare for leaving the EU with ‘no deal.’ This pack builds on the previous version (published in November 2018) and updates most sections with the latest guidance on ‘no deal' preparations.
On 20 December 2018 the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) announced that it has settled with Zoltek Companies, Inc. (“Zoltek”) and its worldwide subsidiaries for $7,772,102. From approximately January 2012 to October 2015, Zoltek, a holding company headquartered Bridgeton, Missouri, apparently violated the Belarus Sanctions Regulations, 31 C.F.R. part 548 on at least 26 occasions. A U.S. subsidiary of Zoltek, Zoltek Corporation, approve
The U.S Bureau of Industry and Security (BIS) has amended the Export Administration Regulations (EAR) by correcting two entries on the Commerce Control List (CCL) that control Global Navigation Satellite Systems (GNSS) receiving equipment. The License Requirement section of Export Control Classification Number (ECCN) 7A005 is modified to cover 7A005.b, GNSS receiving equipment employing ‘adaptive antenna systems.’ This amendment is published on 20 December 2018 in the Federal
On 18 December 2018 U.S. President Trump announced that Executive Order 13818 (originally dated 20 December 2017) will be prolonged for one additional year, pursuant to section 202(d) of the National Emergencies Act (50 U.S.C. 1622(d)). In Executive Order 13818 Trump declared a national emergency with respect to serious human rights abuse and corruption around the world. Determining that this abuse of human rights and corruption remains severe, Executive Order 13818 will be e
The United Nations Security Council Committee, in accordance with resolution 1988 (2011), has adopted a revised ‘Guidelines of the Committee for the Conduct of its Work.’ This revised version, adopted on 3 December 2018, amends a number of sections, such as the sections on Cooperation with the Government of Afghanistan (Section 5) and the section on Exemptions to the Travel Ban (Section 13). It also makes a number of amendments in order increase the accuracy, clarity and cons
The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has reached a settlement agreement with the Yantai Jereh Oilfield Services Group Co., Ltd., its affiliates and subsidiaries (collectively referred to as the “Jereh Group”) for apparent violations of Iranian Transactions and Sanctions Regulations, 31 C.F.R. part 560 (ITSR). The Jereh Group, headquartered in Yantai, China, specialize in oil and gas equipment manufacturing, engineering and construction
The U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) has imposed a $14.5 million civil money penalty against UBS Financial Services Inc. for failing to develop and implement suitable anti-money laundering policies and procedures. UBS Financial Services Inc. will pay $5 million to the U.S. Department of the Treasury and the remainder will be simultaneously paid to the the Securities and Exchange Commission (SEC) and the Financial Industry Regulat
The European Union’s Commission Delegated Regulation (EU) 2018/1922 of 10 October 2018, which amends Council Regulation (EC) No 428/2009, has been adopted as of 14 December 2018. This amended regulation controls the exports, transfer, brokering and transit of dual-use items in order to ‘ensure full compliance with international security obligations, to guarantee transparency, and to maintain the competitiveness of economic operators.’ To read the amended version of EC No 428/