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The PT Law Blog

New Bipartisan Iran Sanctions Legislation Introduced in the US Congress

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Wednesday, 18 May 2011 09:33

As we enter the summer period of the Congressional session, it appears that Iran sanctions will once again be on the menu. This particular measure will be of interest to the energy and financial services sector that may have dealings with Iran.

The bill - HR 1905 - was introduced last week without much fanfare by the Chairman and Ranking Member of the House Foreign Affairs Committee; however, we expect it will receive a great deal of attention in both chambers. A companion Senate measure will be introduced in the near future.

Read more... [New Bipartisan Iran Sanctions Legislation Introduced in the US Congress]
 

UK Company Fined $79 million in US Export Controls Case

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Tuesday, 17 May 2011 15:22

The U.S. Department of State announced this morning that UK defense contractor BAE Systems plc has entered into a consent agreement to settle thousands of violations of the Arms Export Control Act (AECA) and the International Traffic in Arms Regulations (ITAR). The company has agreed to pay the largest civil penalty ever in a case such as this one, $79 million. 

Read more... [UK Company Fined $79 million in US Export Controls Case]
 

OFAC Updates SDN Watch List with Libyan Entities

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Tuesday, 17 May 2011 11:50

The US Department of the Treasury's Office of Foreign Assets Controls (OFAC) has updated the specially designated nationals (SDN) list with new Libyan entities. For more information, click here.

 

State Department publishes final ITAR Dual-Nationals Rule

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Saturday, 14 May 2011 21:51

In next Monday's edition of the Federal Register, the U.S. Department of State has published a final rule establishing a policy to address those who are unable to implement the exemption for intra-company, intra-organization, and intra-government transfers of defense articles and defense services by approved end-users to dual national and third-country nationals who are employees of such approved end-users.

Read more... [State Department publishes final ITAR Dual-Nationals Rule]
 

US Updates Libya Sanctions Watch List

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Wednesday, 11 May 2011 10:13
In today's Federal Register, the Treasury Department's Office of Foreign Assets Control ("OFAC") published additional identifying information associated with the three individuals and two entities listed in the Annex to Executive Order 13572 of April 29, 2011, "Blocking Property of Certain Persons with Respect to Human Rights Abuses in Syria."  The updates can be viewed here.
 

Export Administration Regulation Clarification

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Monday, 09 May 2011 10:11
The U.S. Department of Commerce, Bureau of Industry and Security (BIS) issued a minor Export Administration Regulations correction related to understandings reached at the most recent Australia Group Meeting. Read the Federal Register Notice here.
 

US Sanctions More Libyan Entities

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Thursday, 05 May 2011 11:54

The U.S. Department of the Treasury, Office of Foreign Assets Controls (OFAC), has added thirty new Libyan entities to the specially designated nationals sanctions watch list. According to a notice in today's Federal Register:

The Treasury Department's Office of Foreign Assets Control (“OFAC”) is publishing the names of 16 entities identified on March 15, 2011 and 14 entities identified on March 22, 2011, as persons whose property and interests in property are blocked pursuant to Section 2 of Executive Order 13566 of February 25, 2011, “Blocking Property and Prohibiting Certain Transactions Related to Libya.”

Read more... [US Sanctions More Libyan Entities]
 

Treasury's OFAC Releases Long-Awaited Cuba Travel Regulations

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Thursday, 21 April 2011 20:18

This afternoon the U.S. Department of the Treasury, Office of Foreign Assets Controls? released their updated Comprehensive Guidelines for License Applications to Engage in Travel-Related Transactions Involving Cuba to reflect changes made to U.S. policy through amendments to the Cuban Assets Control Regulations, 31 CFR Part 515. 

Read more... [Treasury's OFAC Releases Long-Awaited Cuba Travel Regulations]
 

OFAC Seeks Comments on Sudan and Iran Exports

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Thursday, 21 April 2011 17:43
In today's Federal Register, the Office of Foreign Assets Control ("OFAC") of the U.S. Department of the Treasury published a notice soliciting comments on the effectiveness of OFAC's licensing procedures for the exportation of agricultural commodities, medicine, and medical devices to Sudan and Iran. Pursuant to section 906(c) of the Trade Sanctions Reform and Export Enhancement Act of 2000 (Title IX of Pub. L. 106-387, 22 U.S.C. 7201 et seq.) (the "Act"), OFAC is required to submit a biennial report to the Congress on the operation of licensing procedures for such exports. Read the Federal Notice here.
 

Treasury's OFAC Updates SDN List

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Wednesday, 20 April 2011 10:49
The Treasury Department's Office of Foreign Assets Control ("OFAC") published this morning the names of seven (7) newly-designated entities and seven (7) newly-designated individuals whose property and interests in property are blocked pursuant to Executive Order 13382 of June 28, 2005, "Blocking Property of Weapons of Mass Destruction Proliferators and Their Supporters." The Federal Register notice with the new entities and individuals is available here.
 
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