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July 18, 2014: Slight tweak to HMT policy on funds transfers
Her Majesty's Treasury will change its policy on funds transfers, effective midnight July 31st. If a funds transfer arrives in a UK bank from or via a sanctioned person from outside the EU, those funds...
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Iran Joint Plan of Action deadline extended to November 24, 2014
The P5+1 or E3+3, depending on who's writing the press release, have made progress in their talks with Iran over the future of Iran's nuclear program, but not enough to finish by the July deadline. So,...
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BIS leaves no stone unturned…
A very cool story out of the Export Law Blog. BIS fined C A Litzler $45000 for the unlicensed export of machinery by Western Advanced Engineering Company (WAECO), whose assets it had bought. But, since...
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OFAC Enforcement Action: Bank of America fined for anti-narcotics & RPPR...
It’s never good when the email from OFAC that lands in your inbox contains the name of the bank and the name of the fine…or when they include the settlement agreement with the notice on the website…...
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More EU sanctions on Russia to be published late today
They will appear in the Official Journal of the EU late today. From the press release: As requested by the Foreign Affairs Council of 22 July, the Council's Committee of Permanent Representatives...
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July 25, 2014: EU adds 15 people, 18 entities to Ukraine sanctions
On Friday, the Official Journal of the European Union, in Council Implementing Regulation (EU) No 810/2014, listed the following additions to the Ukraine-related sanctions: I. Individuals Name...
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July 25, 2014: Mohamad Ali Zidane removed HMT Libya Sanctions
In line with Council Implementing Regulation (EU) No 792/2014, the following person was removed from Her Majesty’s Treasury’s (HMT) Consolidated List on Friday: ZIDANE, Mohamad, Ali DOB: –/–/1959....
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July 25, 2014: New EU, HMT Syria Designations
On Friday, Her Majesty's Treasury modified its Consolidated List by adding a number of people and entities under its Syrian sanctions program, in line with Council Implementing Regulation (EU) No...
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OFAC Enforcement Action: You can’t fight the power…
Epsilon Electronics was assessed a civil monetary policy for $4,073,000 for $3.4 million in car audio and video equipment reexported to Iran from their customer in Dubai. Five of the 39 invoices...
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July 29, 2014 OFAC Update (pt. 3) – Ukraine2 & SSI List additions
The last part of OFAC's sanctionspalooza on Tuesday was to add the following entity to the SDN List: UNITED SHIPBUILDING CORPORATION (a.k.a. OBEDINENNAYA SUDOSTROITELNAYA KORPORATSIYA OAO; a.k.a. OJSC...
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July 28, 2014: 6 new OFAC Ukraine FAQs
Here's the new section, in its entirety: Questions Related to Sectoral Sanctions under Executive Order 13662 Print This entire FAQ topic 370. What is this prohibition under Executive Order (E.O.)...
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July 26, 2014: EU, HMT expand Iraq licensing
Council Regulation (EU) 791/2014 amends the existing licensing: The following restrictions in the Regulation have been amended. These amendments may include a change to the number of the article...
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July 28, 2014: HMT implements EU Ukraine sanctions changes
Her Majesty's Treasury updated its Consolidated List with the 15 people and 18 entities added late Friday by the European Union (Council Implementing Regulation (EU) No 810/2014) – see my previous...
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July 29, 2014: OFAC Update 1: Narcotics Kingpins
On Tuesday, OFAC made a number of updates to a number of programs. First, the Kingpin Act designations – the people: HU, Yongan; DOB 26 May 1976; POB China; citizen China; Passport E00957550 (China);...
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OFAC Update for July 29, 2014, Part Deux: Iran tries to hide its tankers...
On Tuesday, as part of its SDN updates for the day, OFAC updated a bunch of Iranian oil tankers and related companies – Iran moved some of the management companies from a Greek shell company to one in...
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July 29, 2014: BIS Expands Export Restrictions on Russia
Tuesday, the US Bureau of Industry and Security (BIS), announced it would ban export/reexport of goods that are used for deepwater, arctic or shale oil exploration projects. In addition the press...
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July 30, 2014: OFAC designates DPRK vessels and shipping companies
Yesterday, OFAC added the following 2 firms: CHONGCHONGANG SHIPPING COMPANY LIMITED (a.k.a. CHONG CHON GANG SHIPPING CO. LTD; a.k.a. CHONGCHONGANG SHIPPING CO LTD), 817, Haeun, Donghung-dong, Central...
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US see, EU do… Russian/Ukraine sanctions
The European Union just copied the recent US restrictions on Russia based on its continuing interference in Ukrainian affairs: A ban on involvement in new issues of debt or equity with a maturity date...
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July 30, 2014: UN, OSFI add 1 North Korean entity
Yesterday, Canadian regulators added the following entity to its Consolidated List, after its designation by the United Nations: OCEAN MARITIME MANAGEMENT COMPANY, LIMITED (OMM) · Description: Ocean...
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July 31, 2014: EU, HMT add 11 to Ukraine sanctions
On Thursday, Her Majesty’s Treasury added the following 8 persons: ABISOV, SergeyDOB: 27/11/1967. Position: Minister of Interior of the Republic of Crimea Group ID: 13071. GROMOV, Alexey,...
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