Trade and Manufacturing Monitor
The EU & Russia Move Forward with “Blocking Statutes” in Response to U.S. Exit from Iran Nuclear Deal
Today, the EC announced that it is moving forward with a package of measures to blunt the impact of renewed U.S. sanctions on Iran following the U.S. exit from the Joint Comprehensive Plan of Action ( JCPOA ). Included…
The United States will withdraw from the Iran nuclear deal and fully re-impose nuclear sanctions on Iran within 180 days.
On Tuesday President Trump announced that the United States will exit the multilateral Iran nuclear deal and fully re-impose sanctions on Iran. After the announcement, the Office of Foreign Assets Control (OFAC),…
UK Unpacks Encryption Controls
Despite the fact that export controls on dual-use goods derive from international agreements such as the Wassenaar Arrangement, significant differences can be seen as controls are implemented by different countries.…
Sanctions Penalties Tick Up Again
Penalties for violations of sanctions rules administered by the Office of Foreign Assets Control (OFAC) ticked up again yesterday. Most violations of OFAC’s rules now face statutory penalties of $295,141 or twice the…
Trump makes it official: Venezuelan digital currency is subject to sanctions
The President signed a new Executive Order today making it unlawful to engage in transactions involving digital currency issued by the Venezuelan government. The Executive Order makes official prior guidance from the…