On 30th January 2020, the Council of the European Union (EU) adopted the agreement for the withdrawal of the United Kingdom of Great Britain and Northern Ireland (UK). The European Union (Withdrawal Agreement) Act 2020 was ratified by the UK on 23rd January 2020 and approved by the European Parliament on 29th January 2020. Therefore, as of 1st February 2020, the UK will no longer be a member state of the EU. During the subsequent interim phase (transition phase), scheduled to
On 27th January 2020, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) announced a settlement agreement with Marshall Islands’ company Eagle Shipping International (USA) LLC (“Eagle Shipping”). Headquartered in Stamford, Connecticut, Eagle Shipping has agreed to pay $1,125,000 to settle its potential civil liability for 36 apparent violations of the Burmese Sanctions Regulations, 31 C.F.R. part 537 (BSR). The apparent violations pertain to Eagle S
Effective 16th January 2020, the UK’s HM Treasury, through the Office of Financial Sanctions Implementation (OFSI), designated Hizballah under the Terrorist Asset-Freezing etc. Act 2010 (TAFA). The Hizballah Military Wing, although no longer designated under TAFA, continues to be subject to financial sanctions imposed by European Union Council Regulation (EC) No 2580/2001. Please click here to read the General Notice of Final Designation from OFSI.
On 20th January 2020, the German Customs administration (“Generalzolldirektion”) published a statement regarding the preferential trade status of the United Kingdom of Great Britain and Northern Ireland (UK) after its scheduled departure (“Brexit”) from the European Union (EU) on 31st January 2020. German Customs states that the status of preferential trade is not clear after Brexit; although the UK is scheduled to remain in the EU Customs Union during the “transition phase”
On 16th January 2020, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) issued a new Iran-related Frequently Asked Question (FAQ). This new FAQ covers the wind-down period pertaining to Executive Order (E.O) 13902, “Imposing Sanctions With Respect to Additional Sectors of Iran.” Persons engaged in transactions that could be sanctioned under E.O. 13902 have 90 days to wind-down such activities (until 9th April 2020). OFAC also clarifies that “enteri
On 15th January 2020, the Government of the United States and the Government of the People’s Republic of China entered into an Economic and Trade Agreement. The agreement includes a commitment by China to purchase $200 billion more in U.S. goods than they purchased in 2017, a dispute resolution system, as well as structural reforms in the areas of intellectual property, technology transfer, agriculture, financial services, and currency. The agreement can be found on the Offic
On 10th January 2020, the U.S. President issued a new Executive Order (E.O) entitle “Imposing Sanctions With Respect to Additional Sectors of Iran.” This E.O. authorizes sanctions against new sectors of the Iranian economy, including construction, mining, manufacturing, and textiles. Additionally, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) updated its Specially Designated Nationals List (SDN list) by designating senior Iranian regime officia
On 8th January 2020, the United Kingdom’s Department for International Trade: Export Control Joint Unit (ECJU) published an updated UK Strategic Export Control Lists. This update reflects changes to Annex 1 that were previously agreed upon in international export control regimes. Click here to see list details and history.
On 31st December 2019, the U.S. District Court for the Northern District of Texas vacated the Office of Foreign Assets Control’s (OFAC’s) Penalty Notice of 2017 against Exxon Mobil Corporation, ExxonMobil Development Company and ExxonMobil Oil Corporation (collectively ‘Exxon Mobil’). The Court concluded that Exxon Mobil lacked fair notice (in accordance with the Due Process Clause of the Fifth Amendment) that their conduct violated the Ukraine-Related Sanctions Regulations.
The European Union’s Commission Delegated Regulation (EU) 2019/2199 of 17 October 2019, which amends Council Regulation (EC) No 428/2009, has been adopted as of 30 December 2019. This amended regulation controls exports, transfers, brokering and transit of dual-use items. To read the amended version in the Official Journal of the European Union (L338) please click here. In addition, effective 1st January 2020, Switzerland has amended their dual-use goods list. Most amendments