On Wednesday, former President Donald Trump was projected to retake the White House and become the United States’ 47th president. The Senate is also projected to be Republican controlled; the House of Representatives remains too close to call.
Based on insights from his first administration and his campaign promises, the following are a few key
On July 10, BIS released new guidance strongly encouraging companies involved in exporting, reexporting, or transferring (in-country) Common High Priority List (CHPL) items to screen transaction parties against the list maintained by the Trade Integrity Project (TIP) (in addition to the Consolidated Screening List).
TIP is an initiative of the UK-based Open-Source Centre that
On 24 June 2024, the EU agreed the long-awaited 14th package of sanctions against Russia. These latest measures introduce several new thematic restrictions and imposed asset freeze measures on an additional 116 individuals and entities including Sovcomflot and the Volga Dnepr Group.
Continue Reading EU 14th Sanctions Package against Russia
On June 12, the Office of Foreign Assets Control (OFAC) and Bureau of Industry and Security (BIS) released new sanctions and export controls intended to further target Russia and Belarus, as well as those who transact with sanctioned entities and create diversion risks for export-controlled items.
New restrictions on certain IT and software services, effective
On 14 September 2022, as part of a suite of regulatory changes targeting cross-border supply chains, the European Commission presented its proposal for a Forced Labour Regulation.
In November 2023, the European Parliament adopted its position on the Commission’s proposal, followed by the Council of the EU adopting its General Approach in January 2024. After
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Background
Russia’s military action against Ukraine has had a profound impact on Ukraine’s ability to trade with the rest of the world. Under such exceptional circumstances and to mitigate the negative economic impact of Russia’s aggression on Ukraine, the EU decided in May 2023 to grant sweeping concessions to Ukraine in the form of trade-liberalisation
On May 14, the Office of U.S. Trade Representative (USTR) published its report on the four-year review of the Section 301 tariffs on Chinese-origin goods first imposed in 2018. The report concludes that the tariffs have been effective, but China has not yet eliminated the technology transfer-related acts, policies, and practices at issue in the
Last fall, the Bureau of Industry and Security (BIS) paused its issuance of new export licenses involving certain firearms, related “parts,” “components,” and ammunition. On April 30, BIS will publish an interim final rule tightening controls of exports of these items. The interim final rule will take effect on May 30.
The interim final rule
On October 15, 2023, OFAC issued General License 44, which temporarily authorized transactions related to oil and gas sector operations, including transactions involving PdVSA.
Continue Reading OFAC issues wind-down license for Venezuelan oil
To expand the reach of U.S. sanctions, the Bureau of Industry and Security (BIS) amended the Export Administration Regulations (EAR) on March 21 to require a license for the export, reexport, or transfer (in-country) of all items “subject to the EAR” when a party to the transaction is blocked under one of 14 U.S. sanctions