Trade and Manufacturing Monitor
New Russia, Iran, and North Korea Sanctions Become Law
Today the President signed landmark legislation into law mandating new and enhanced sanctions on Russia, Iran, and North Korea. As noted in our prior posts, here and here, the law will tighten existing sanctions on…
OFAC Penalizes Singaporean Communications Provider $12 Million For Iranian Transactions Conducted In U.S. Dollars
Global communications solutions provider, CSE TransTel, a subsidiary of CSE Global Limited (both based in Singapore), recently agreed to settle Iran sanctions charges leveled by the U.S. Treasury Department’s Office of…
U.S. Blacklists the President of Venezuela as a Specially Designated National (SDN)
Today the U.S. Office of Foreign Assets Control (OFAC) took the unusual step of blacklisting the leader of a foreign country as a Specially Designated National (SDN). OFAC added Nicolas Maduro, the President of…
Congress Passes Landmark Russia Sanctions
Last night the U.S. Senate passed sweeping sanctions on Russia, Iran, and North Korea by a vote of 98-2. The Countering America’s Adversaries Through Sanctions Act (the Act) contains important changes to U.S. sectoral…
Siemens Cracks Down on Russian Sanctions Evasion
Siemens, a German corporation, has announced that it will no longer deliver power plant equipment to state-controlled firms in Russia after it claimed to discover that Siemens’ Russian customer, Technopromexport, had…