What’s Going to Happen with Exports of Commercial Drones?

In 2015, many believed to have seen an announcement by the Department of State relaxing drone exports, but a close look at the announcement suggests otherwise. According to a publication by the Directorate of Defense Trade Controls, “The FAA Modernization and Reform Act of 2012 for Unmanned Aircraft Systems (http://www.hse-uav.com/faa_modernization_and_reform_act_2012.htm) creates a statutory basis for […]

Trends in OFAC Enforcement

By Juhi Tariq – Which cases have been considered egregious? AIG Case – June 26, 2017 Though the transactions totaled almost double the amount, OFAC’s base penalty for AIG was $198, 226. Mitigating factors: No prior penalty notice or Finding of Violation from OFAC in the past five years Existence of a compliance program that […]

Russia Sanctions Bill Signed

From NYT: President Trump signed legislation on Wednesday imposing sanctions on Russia and limiting his own authority to lift them, but asserted that the measure included “a number of clearly unconstitutional provisions” and left open the possibility that he might choose not to enforce them as lawmakers intended. In particular, he objected to Congress interfering with the […]

China, India, and Turkey still buying large amounts of Iranian oil

China, India, and Turkey are showing signs of not slowing down their oil imports from Iran even though the Trump administration has threatened sanctions on those who continue to import Iranian oil. Global oil prices have risen since the announcement of the reimposition of U.S. sanctions on Iranian oil but major international players continue to seek access […]

Did Salt Bae Commit a Crime by Serving Venezuelan President Maduro?

Photo: Twitter/@Nusr-ett Amidst the public outrage and protests against Salt Bae and Nusr-Et Steakhouse, the meat slicing and salt pouring icon may have inadvertently stumbled into the world of U.S. economic sanctions, which currently target the President of Venezuela, Nicolas Maduro. While the U.S. government may investigate and enforce any applicable sanctions violations, these lamb chops also provide […]

Société Générale expecting to pay $1.3 billion in fines to the U.S. for economic sanctions violations

The French bank is in discussion with U.S. authorities, particularly OFAC,  in resolving fines for facilitating transactions in violation of U.S. economic sanctions. It is currently unknown which sanctions program was violated and the number of transactions and parties involved. This news report may have great implications on the future of banks involvement with Iran post-JCPOA and […]

U.S. Due to Ratchet Up Russia Sanctions after Skripal Poisoning

The State Department announced on August 8, 2018 that the Trump administration decided it will be imposing further sanctions on Russia. This round of sanctions would be imposed under the Chemical and Biological Warfare Act of 1991 as the U.S. has accused Russia for the March 2018 poison attack on former Russian agent Sergei Skripal […]

Closure of 90-day Wind-Down Period Instills Fear; Auto Industry Halts Investments

With the first wave of reinstated sanctions hitting Iran on August 7, 2018, German carmaker Daimler froze its plans to expand into the Iranian market. Daimler, the world’s biggest luxury carmaker and commercial vehicles manufacturer, has reversed its 2016 plans to re-establish ties with Iran’s automotive industry. In 2016 Daimler established a joint venture with […]

First Wave of U.S. Sanction on Iran Snap Back; Countries Seek Waivers to U.S. Sanctions

On August 7, 2018, the U.S. reinstated the first wave of sanctions against Iran as the 90-day wind-down period concluded. The Trump administration reimposed sanctions that prohibit Iran purchasing U.S. banknotes, commercial aircraft, trading gold and metals, and business with Iran’s automotive sector. The snapback provisions were evoked by President Trump’s May 8, 2018 decision […]

Turkey’s Response to U.S. Pressure via Sanctions and Tariffs

President Erdogan of Turkey said on Tuesday, August 14th, 2018 that Turkey would prohibit the import of U.S. electronics in retaliation against the U.S. sanctions. The escalating tension between the two NATO allies has contributed to the significant devaluation of Turkey’s currency, the lira, which has lost more than 45% of its value in the […]