EU extends Russia sanctions with another six months

Yesterday, 14 December 2017, at an EU summit, the EU leaders agreed to another six months extension of the EU sanctions regime against Russia, as laid down in EU Regulation 833/2014. This regulation concerns measures related to the export of certain goods (dual-use and military items and equipment for the oil and gas industry) as well as financial sanctions. The current sanctions will expire in July 2018 unless renewed in time. We will keep you updated. Meanwhile, should you require further information … Continued

Dutch transporting company fined EUR 50,000 for transiting military items to Russia

On 23 November 2017, a Dutch court fined Dutch transporting company U-Freight Holland B.V. EUR 50,000 for transiting military items to Russia. The director of the company was also prosecuted, but was acquitted as he was unaware of the transactions. On 17 March 2017, the Dutch company forwarded 2 defect radar systems from the Malaysian military via the Netherlands to Russia for repair. The freight was stopped at Dutch customs because, under the current European sanctions, which contain an arms … Continued

BCC Corporate to pay USD 204,000 for violating US Cuba sanctions regime

On 17 November 2017, BCC Corporate SA (“BCCC”),  a Belgium-based credit card issuer and corporate service company, agreed to pay USD 204,000 in order to settle its potential liability for apparent violations of the US Cuba sanctions regime. The Office of Foreign Assets Control (“OFAC“) determined, that between April 9, 2009 and February 3 2014, BCCC committed 1,818 apparent violations of the Cuban Assets Control Regulations, 31 C.F.R. part 515 (“CACR“). At the time of the violations, BCCC was a wholly … Continued

EU adopts Venezuela sanctions regime

On 13 November 2017, the European Union (“EU“) Council published its conclusions on Venezuela, and agreed on targeted sanctions in view of its concerns at the situation in the country. The EU Venezuela sanctions regime includes an arms embargo, and will also introduce a legal framework for travel bans and asset freezes against those involved in human rights violations and non-respect for democracy or the rule of law. The official Council press release can be found here. Council Regulation (EU) 2017/2063 can be … Continued

EU imposes new sanctions against North Korea

On 16 October 2017, the European Union (“EU“) imposed new sanctions on North Korea under Council Regulation (EU) 2017/1858. The new restrictive measures under the EU North Korea sanctions regime, include a further ban on EU investments in and with North Korea to all sectors, decreasing the amount of personal remittances that can be sent to North Korea from EUR15,000 to EUR5,000, and imposing a further prohibition on the export of oil to the country. The EU also adopted Council Regulation … Continued

EU issues statement on the Joint Comprehensive Plan of Action

On 16 October 2017, the European Union (“EU“) issued a statement on the Joint Comprehensive Plan of Action (“JCPOA“), following United States (“US“) President Trump’s decision not to certify Iran’s compliance with the JCPOA. On 13 October 2017, US President Trump announced that he will not terminate the JCPOA, but that he also will not certify that Iran is complying with it and he demands strict(er) compliance with the accord. In fact, this means that US Congress now has sixty days to … Continued

Bright Lights to pay USD 400,000 for violating US export control regime

On 11 September 2017, Bright Lights USA, Inc. (“Bright Lights”) of Barrington, New Jersey, reached an administrative settlement with the United States (“US“) and agreed to pay USD 400,000, in order to resolve alleged violations of the Arms Export Controls Act (“AECA“) and the the International Traffic in Arms Regulations (“ITAR“). According to the US State Department, Bright Lights engaged in several unauthorised exports of ITAR-controlled defence articles to foreign persons in a number of countries. Bright Lights unauthorised exports also included … Continued

The European Commission updates the EU Control List of Dual-Use Items

On 26 September 2017, the European Commission (the “Commission“) adopted the annual delegated regulation that updates the EU dual-use export control list in Annex I to Regulation (EC) No 428/2009 (the “Dual-use Regulation“) and brings it in line with the decisions taken within the EU framework of the international non-proliferation regimes and export control arrangements in 2016. A major amendment to the Dual-use Regulation is currently expected in 2018. Should you wish to have more information on this topic, please contact … Continued

OFAC sanctions banks and representatives linked to North Korean financial networks

On 26 September 2017, the United States (“US“) Office of Foreign Assets Control (“OFAC“) designated eight North Korean banks and 26 individuals, who are linked to North Korean financial networks. According to OFAC, the designations follow in response to North Korea’s ongoing development of weapons of mass destruction and continued violations of United Nations Security Council Resolutions. The designated individuals are North Korean nationals who are operating in China, Russia, Libya and the United Arab Emirates and who are considered … Continued