House Foreign Affairs Committee Chairman Michael McCaul, R-Texas, said Aug. 14 that the Biden administration should move more quickly to implement new Iran sanctions that Congress approved four months ago. “The only way to deter Iran and its proxies is through a clear display of strength and resolve," McCaul said in a statement.
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The Biden administration is “reviewing closely” the requirements of new laws authorizing sanctions on Iranian oil and “will ensure the rigorous implementation of their provisions” as they take effect, a State Department official recently told a lawmaker.
An Iran-backed militia’s rocket attack that injured U.S. troops in Iraq this week underscores the need for the Biden administration to increase enforcement of Iran oil sanctions to reduce Tehran’s funding for terrorism, Rep. Elise Stefanik, R-N.Y., said in a statement Aug. 5.
Senate Banking Committee ranking member Tim Scott, R-S.C., asked the Treasury Department last week to tell him when it plans to provide lawmakers with an overdue report on Iran sanctions.
Chinese citizen Zhenyu "Bill" Wang and Texas resident Daniel Ray Lane were sentenced to 45 months in prison for trying to violate U.S. sanctions and commit money laundering as part of a scheme to "transact in sanctioned petroleum and launder the proceeds," DOJ announced.
Lawmakers are proposing dozens of export control-, sanctions- and foreign investment-related amendments to the House version of the FY 2025 National Defense Authorization Act (NDAA), including measures aimed at China, Iran and Russia.
Houston residents Muzzamil Zaidi and Asim Mujtaba Naqvi pleaded guilty last week for their role in a scheme to send money to Iran without permission from the Office of Foreign Assets Control, DOJ announced.
Companies should expect the U.S. to soon expand the statute of limitations for certain export control violations to align with a similar extension for sanctions violations, a law firm said.
Export Compliance Daily is providing readers with the top stories from last week in case you missed them. You can find any article by searching for the title or by clicking on the hyperlinked reference number.
Sens. Dan Sullivan, R-Alaska, and Richard Blumenthal, D-Conn., in a letter called on President Joe Biden to increase enforcement of Iran sanctions, especially in the lucrative oil and gas sector, to reduce the revenue Tehran has available to “fund aggression and terrorism in the Middle East and beyond,” the lawmakers said last week.