The Office of Foreign Assets Control added six individuals to its Specially Designated Nationals (SDN) list, under Russia/Ukraine-related designations, OFAC said (here).
The Office of Foreign Assets Control added four individuals to its Specially Designated Nationals (SDN) list, under counter-terrorism designations, OFAC said (here).
National Oilwell Varco entered into a $25 million non-prosecution agreement with the U.S. Attorney’s Office for the Southern District of Texas after the company allegedly violated Iranian and other sanctions regulations from about 2002 to 2009, the Office of Foreign Assets Control said (here). National Oilwell Varco also entered into settlements with OFAC and the Bureau of Industry and Security. Between October 2002 and April 2005, the company approved at least four payments totaling $2.63 million by its subsidiary Dreco Energy Services to a United Kingdom-based entity relating to the sale and exportation of goods, directly or indirectly, from Dreco to Iran, in apparent violation of the Iranian Transactions and Sanctions Regulations, OFAC said. The company also engaged in two transactions combining for nearly $13.6 million, involving the sale and exportation of goods to Iran, and/or facilitated those transactions in violation of the Iranian sanctions regulations.
Applicants for Bureau of Industry and Security export licenses should say whether ultimate consignees will take title to items after shipment, to help maximize effects of reduced processing burdens attributed to export control reform, BIS Deputy Assistant Secretary for Export Administration Matthew Borman said Nov. 1 at the Update 2016 Conference on Export Controls and Policy. BIS processed more than 35,000 license applications in 2015, and the State Department processed 45,000, combining for a total “significantly lower” than before export control reform started in 2010, Borman said. The numbers reflect the “dramatic” movement of items from the U.S. Munitions List (USML) to the Commerce Control List (CCL), as well as license exceptions available for CCL “500 Series” and “600 Series” items, he said.
The Office of Foreign Assets Control added nine individuals to its Specially Designated Nationals (SDN) list under Kingpin Act designations, and removed 15 individuals from the list under counterterrorism designations, OFAC said (here).
The Office of Foreign Assets Control added five individuals and one entity to its Specially Designated Nationals (SDN) list, under transnational counter-terrorism designations, OFAC said (here).
International Trade Today is providing readers with some of the top stories for Oct. 11-14 in case they were missed.
The Obama administration on Oct. 14 announced a broad series of actions to normalize U.S. trade with Cuba, building upon several reforms it has undertaken since December 2014. The White House issued a Presidential Policy Directive (here) that calls on Congress to end the trade embargo, and charts steps the U.S. can take to further ease commercial and travel restrictions short of the embargo’s repeal. Meanwhile, the Office of Foreign Assets Control and the Bureau of Industry and Security announced final rules to loosen U.S. policy constraints on bilateral financial and trade transactions. OFAC’s final rule (here) greenlights certain transactions related to Cuban-origin pharmaceuticals and joint medical research, and adds, widens, and clarifies trade and commercial authorizations, among other things. BIS’ final rule (here) will loosen license exception eligibility regulations for Cuban officials, as well as for U.S. air cargo trans-shipped through Cuba, and for sales of products directly to Cuban individuals. Both final rules take effect Oct. 17.
The Office of Foreign Assets Control added four individuals and nine entities to its Specially Designated Nationals (SDN) list, under transnational criminal organization designations, OFAC said (here).
President Barack Obama's executive order removing Myanmar sanctions (see 1610110029) included lifting an eight-year ban on Myanmar-origin jadeite and ruby imports, according to a Treasury Department fact sheet (here). Furthermore, the order removed all individuals and entities blocked under the Burmese Sanctions Regulations (BSR) from the Office of Foreign Assets Control's Specially Designated Nationals and Blocked Persons List, but doesn't impact Myanmar individuals or entities blocked pursuant to other OFAC sanctions authorities, including counter-narcotics sanctions, whose property and property interests remain blocked, Treasury said.