On June 22, 2023, the United States Trade Representative (USTR) announced that the United States and India reached an agreement to terminate ongoing disputes at the World Trade Organization (WTO). Additionally, India agreed to remove retaliatory tariffs implemented against certain U.S. products in response to the U.S.’s institution of Section 232 tariffs on steel and
OFAC and U.S. Department of State Issue New Sanctions and Designates More Than 300 Russian Federation Individuals and Companies Aiding Russia’s War Efforts
On Friday, May 19, 2023, the U.S. Department of Treasury’s Office of Foreign Assets Control (“OFAC”) announced the addition of more than 300 Russian Federation individuals and companies as well as other individuals and companies alleged to be aiding Russia’s war efforts to the Specially Designated Nationals and Blocked Persons (“SDN”) List. Simultaneously, the U.S.
BIS Implements Additional Export Controls and Entity List Additions Targeting Russia to Align with Allies and Partners
On May 19, 2023, the Department of Commerce’s Bureau of Industry and Security (“BIS”) announced new export controls and Entity List additions during President Biden’s G7 visit in Japan. In conjunction with the G7 meetings, BIS stated these new restrictions are designed to better align U.S. controls with those of its partner and ally countries
BIS Levies Record Penalty for Export Control Violations related to Huawei Shipments
Recently, the U.S. Department of Commerce’s Bureau of Industry and Security (“BIS”) announced the issuance of a $300 million penalty against Seagate Technology LLC and its Singapore affiliate, Seagate Singapore International Headquarters Pte. Ltd., (collectively, “Seagate”) to resolve apparent violations of the Huawei foreign direct product rule (the “Huawei FDP Rule”). BIS stated this case
BIS Issues New Export Controls and Entity List Additions Targeting Russia on One-Year Anniversary of Invasion
The Department of Commerce’s Bureau of Industry and Security (“BIS”) announced today new export controls and Entity List additions designed to further restrict Russia’s ability to maintain its continued war against Ukraine. The Biden Administration’s measures come on the one-year anniversary of Russia’s invasion of Ukraine and the first announcement by several Western countries, including
OFAC Issues Sweeping Sanctions to Mark One-Year Anniversary of Russia’s Invasion of Ukraine
On Friday, February 24, 2023, the US Treasury Department’s Office of Foreign Assets Control (“OFAC”) issued new sanctions against individuals and entities operating in Russia and against those assisting with Russia’s war efforts in Ukraine. In combination with OFAC’s additional sanctions, BIS also implemented additional export control measures and added 86 identified supporters of the
Export Control Violations Result in Significant Monetary Penalties and Continuing Compliance Training Obligations
In a recent order, the Department of Commerce’s Bureau of Industry and Security (“BIS”) revoked the export privileges for Obaidullah Sayed, an Illinois resident. Sayed was convicted of conspiring to export computers, computer systems, and other related equipment to the Pakistan Atomic Energy Commission without a license. Sayed was sentenced to one year and
Biden Administration No Longer Approving Export Licenses to Chinese Tech Giant Huawei
According to recent reports, the U.S. Department of Commerce’s Bureau of Industry and Security (“BIS”) has stopped granting export licenses to Huawei Technologies Co. Ltd. (“Huawei”).
The U.S. government has long sought to restrict Huawei’s access to advanced U.S. computer chips used to power 5G networks and related technological applications. Under the current export restrictions
BIS Adds 35 Chinese Entities to Entity List for Supporting China’s Military Modernization Efforts and Nine Russian Entities for Failure to Complete Satisfactory End-Use Checks
On December 16, 2022, the U.S. Commerce Department’s Bureau of Industry and Security (“BIS”) published a rule adding 35 entities from China and one entity from Japan to the Entity List for supporting China’s military modernization efforts, human rights violations, and risk of diversion. These designations follow BIS’s advanced computing and semiconductor export controls unveiled
OFAC Continues to Take Aim at Russia’s Financial Sector with More SDN Designations
On December 15, 2022, the Office of Foreign Assets Control (“OFAC”) added 18 entities in Russia’s financial services sector to the Specially Designated Nationals and Blocked Persons List (“SDN List”). The US State Department concurrently designated Vladimir Potanin, one of the richest men in Russia.
OFAC designated Public Joint Stock Company Rosbank (“Rosbank”), a bank