Trade and Manufacturing Monitor
U.S. Companies Must Wind Down Transactions with Sanctioned Belarusian State-Owned Enterprises By June 3rd
The Office of Foreign Assets Control (“OFAC”) recently tightened sanctions on Belarus by revoking and replacing General License 2G with General License 2H. General License 2H now requires U.S. persons to wind down…
Over $8 Million in Fines - SAP Case Highlights Sanctions Risks and Compliance Expectations for Cloud Providers and Software Companies
Last week, three U.S. agencies – the Office of Foreign Assets Control (“OFAC”), the U.S. Department of Commerce (“Commerce”), and the U.S. Department of Justice (“DOJ”) – announced the global resolution of apparent…
U.S. imposes new sanctions on Russia targeting sovereign debt, tech companies, and Crimea
Today, the United States announced new sanctions on Russia in response to a widespread hacking campaign targeting the United States, alleged interference in U.S. elections, and other “malign” actions carried out by the…
Congress Enters the Chinese Trade Policy Realm
On April 8, Senate Foreign Relations Committee Chairman Bob Menendez (D-NJ) and Ranking Member Jim Risch (R-ID) announced a bipartisan agreement on a wide-ranging strategic approach towards China. The Strategic…
BIS eliminates most reporting requirements for open source and mass market encryption
Today, the Bureau of Industry & Security (BIS) is amending the Export Administration Regulations (EAR) to eliminate most reporting requirements related to open source encryption software and certain “mass market”…