I screamed at the top of my lungs what’s going on! Come by for a casual end-of-year chat about what’s happening in the world of international trade. Our experts have a grab bag of topics, and you’re welcome to submit your own questions!
Trade News
Justice: Venezuelan Man Sentenced for Role in Scheme to Evade U.S. Sanctions on Oil Company
A Venezuelan man was sentenced to 30 months in prison and 3 years of supervised release for participating in a scheme to evade US sanctions on a sanctioned oil company. Read More
OFAC: Treasury Reaches Settlement with American Life Insurance
Treasury announced a settlement with American Life Insurance Company for 2,331 apparent violations of Iranian sanctions. There were insurance policies provided to UAE entities that were owned or controlled by the Iranian government. American Life self-disclosed the violations. Read More
Justice: Justice Department Proposes Rule to Control Access to Bulk Personal and U.S. Government Data
Justice is proposing a rule that implements an Executive Order from February, with the goal of controlling access to bulk personal data and US government-related data. Comments are due by 11/29/2024. The 112-page document also address comments that were made…
BIS: New York Semiconductor Firm Shipped $17.1 Million in Wafers to Entity List Company
BIS has imposed a civil penalty of $500,000 on GlobalFoundries US. GlobalFoundries is a semiconductor manufacturer in New York, and they shipped ~$17.1 million in semiconductor wafers to a company on the BIS Entity List without licenses. They voluntarily disclosed,…
DOD: 70 Imported Items Could Lose Exemptions to Boost Domestic Production
The Department of Defense put out a proposed rule that is available for comment until 12/23/2024 amending the list of domestically nonavailable articles under Buy American. Federal contractors are often subject to Buy American rules that require a certain percentage…
OFAC: Vietnam Beverage Co. Settles with OFAC for $860,000 Over North Korea Sanctions Violations
The Office of Foreign Assets Control settled with Vietnam Beverage Company for $860,000 to resolve 43 apparent violations of the North Korea Sanctions Regulations. They caused US financial institutions to process over $1m in payments for alcoholic beverages sold to…
Justice: Attempted Unlawful Exports and Money Laundering in Iran Scheme
Justice convicted Brian Assi of violations of IEEPA and the Iran Sanctions for attempting unlawful exports without a license, attempting to smuggle goods, submitting false/misleading export information, and conspiracy to commit money laundering. This is because Assi was attempting to…
EAR, ECCN & Licensing
Complying with export regulations! Get some practical understanding of the Export Administration Regulations (EAR), the Commerce Control List (CCL), and Export Control Classification Numbers (ECCN). We discussed interpreting the EAR, navigating the CCL, and determining ECCN and License Requirements. Topics…
Justice: Two Russian Nationals Indicted for Smuggling and Wire Fraud
Two Russian nationals have been indicted for export control violations, smuggling, wire fraud, and money laundering. They fraudulently procured microelectronics from US distributors using shell companies to hide that the controlled items were destined for Russia. Read More
CSMS: U.S. Customs and Border Protection Lifts Import Ban on Disposable Gloves
The withhold release order against disposable gloves made by Brightway Holdings and Biopro is being modified. As of 10/11/24 CBP is no longer detaining disposable gloves and will allow them to enter. Read More
East and Gulf Coast Ports Hit by First ILA Strike in Over 40 Years as Contract Expires
The ILA began picket lines early this morning after the contract expired at midnight. The strike impacts 36 ports, all East and Gulf Coast. Currently the US Maritime Association (USMX for some reason) is in negotiations with the International Longshoremen’s…
BIS: Quantum Corporation Fined $150,000 for Antiboycott Violations
Bureau of Industry and Security has imposed a civil penalty of ~$150,000 on Quantum Corporation for alleged violations of antiboycott provisions of the EAR. Quantum is a data storage, management, and protection company that received requests from a UAE distributor…