Trade and Manufacturing Monitor
OFAC Eases Rules to Allow for More Remote Learning in Iran During COVID-19 Pandemic
Yesterday, the Office of Foreign Assets Control (OFAC) issued General License M, authorizing U.S. academic institutions to export certain online learning services and software to Iranian students to facilitate remote…
OFAC Announces New Restrictions On Remittances Involving Cuba
Yesterday, OFAC announced amendments to the Cuba embargo that will further restrict the ability of U.S. companies to process remittances to or from Cuba. Specifically, the new rules prohibit U.S. companies from…
How New CFIUS Rules on Critical Technology Affect CFIUS Filing Strategy
The Department of Treasury’s office that administers reviews of foreign investments in U.S. companies is changing how it identifies critical technology businesses and related technologies that require mandatory review…
Takeaways from OFAC’s $4.1 Million Settlement with Berkshire Hathaway
This week, the Office of Foreign Assets Control (OFAC) announced a settlement agreement with Berkshire Hathaway Inc. involving apparent violations of the U.S. embargo on Iran by a subsidiary in Turkey. Under the…
BIS: Exporters May Request 6 Month Extension for Export Licenses Nearing Expiration
On October 16, 2020, the Bureau of Industry and Security (BIS) announced that exporters may request a six-month extension for export licenses set to expire on or before December 31, 2020. BIS indicates that most…