$1.45 Billion in Penalties for Transactions with Sanctioned Parties The Justice Department announced $1.45 billion in penalties to a global bank headquartered in Germany and its New York branch for concealing hundreds of millions of dollars in transactions prohibited by U.S. sanctions laws on behalf of Iranian and Sudanese businesses. From DOJ: Commerzbank AG, a global … [Read more...]
Russian Sanctions: Licensing Policy for the Crimea Region of Ukraine
Russian Sanctions: Licensing Policy for the Crimea Region of Ukraine From BIS: The Bureau of Industry and Security (BIS) issues this final rule to amend the Export Administration Regulations (EAR) to impose additional sanctions that implement U.S. policy toward Russia. Specifically, in this rule BIS amends the EAR by imposing a license requirement for the export and … [Read more...]
The Latest on the Export Control Reform (ECR) Initiative
The Latest on the Export Control Reform (ECR) Initiative From Export.gov: One-Year Anniversary of the Initial Implementation of ECR Control List Changes October 15 marked the one year anniversary of the initial implementation of control list related changes of the President’s Export Control Reform Initiative. Since the first set of revised rules went into effect in 2013, … [Read more...]
Indicted Chinese National – Federal Prosecution For Exporting Nuclear Parts To Iran
Indicted Chinese National - Federal Prosecution For Exporting Nuclear Parts To Iran From DOJ: Sihai Cheng, a/k/a Chun Hai Cheng, a/k/a Alex Cheng, a citizen of the People’s Republic of China (PRC), arrived at Logan Airport from the United Kingdom to face charges for conspiring to export pressure transducers to Iran which can be used in the production process of weapons-grade … [Read more...]
Chief Officer of Engineering Firm Sentenced for Attempted Illegal Shipment to Iran
Chief Officer of Engineering Firm Sentenced for Attempted Illegal Shipment to Iran Hetran, Inc. and it's Chief Executive Officer Helmut Oertmann were sentenced for their involvement in a conspiracy to avoid export reporting requirements & with attempting to smuggle a lathe machine to Iran in violation of U.S. export regulations. Each were charged with Conspiracy: … [Read more...]