The Office of Foreign Assets Control this week published two sets of previously issued general licenses under its Venezuela sanctions regime. The full text of each license appears in the respective notice.
The Office of Foreign Assets Control last week sanctioned Tabacalera del Este, a Paraguay-based cigarette manufacturer, and issued a new general license authorizing certain transactions with the company. OFAC said Tabacalera is owned 50% or more by former Paraguayan President Horacio Manuel Cartes Jara, who was sanctioned by the agency in January for corruption, along with another of his companies, Tabacos USA (see 2301260073).
The U.K.'s Office of Financial Sanctions Implementation issued a new Russia-related general license authorizing certain transactions involving bond amendments and restructurings. The license lets a company, entity or institution that has issued a bond that has or may have bondholders who are sanctioned parties "effect the terms of any Bond restructuring or amendments agreed between itself and its Bondholders" through March 28, 2025. This permission only applies if no funds or economic resources are made available to a designated party as part of any such bond restructuring and any funds that a designated party would be entitled to are frozen and not made available to the designated party until they are no longer sanctioned. The license also permits a British person or entity to take any steps needed to "effect a bond restructuring," as long as the same two conditions listed previously also apply.
The Biden administration will soon announce a new “code of conduct” to improve export controls on goods and technology that could be used for human rights abuses, an effort being rolled out as part of the second Summit for Democracy this week, a senior administration official said during a March 29 call with reporters. The code, which the U.S. said it was “working to develop” during the first democracy summit in 2021 (see 2112090030), “commits subscribing states to better integrate human rights criteria in their export control regimes,” the White House said in a fact sheet.
The State Department this week extended its open general license pilot program for three years, allowing users to continue using the licenses beyond the original July 31 expiration date. The agency’s Directorate of Defense Trade Controls said the extension will help it “collect sufficient data to consider the usefulness” of the pilot -- which includes a license each for certain reexports and retransfers -- and will give companies “sufficient certainty” to continue relying on the licenses “without fear that they could expire more quickly than a traditional license.”
The Office of Foreign Assets Control last week issued new sanctions against three entities, nine people and one aircraft in Belarus for the country's suppression of pro-democracy protests following its "fraudulent" 2020 presidential elections.
The Office of Foreign Assets Control this week published in the Federal Register a previously issued general license under its Syrian Sanctions Regulations. The notice includes the full text of the license.
The U.K. this week added people and entities designated under its Regulation 11 Russia sanctions to the list of parties designated under its Regulation 18C trust services restrictions. "This means that it is now prohibited to provide trust services to or for the benefit of these persons, unless permitted by a licence or there is an applicable exception," OFSI said. The change took effect March 21.
The Office of Foreign Assets Control this week published a previously issued Russia sanctions determination and general licenses. One notice includes a previously issued Russia-related sector determination published under April 15, 2021, executive order, and the others include previously issued general licenses under the Russian Harmful Foreign Activities Sanctions Regulations.
The U.S. needs to reform the International Traffic in Arms Regulations to allow it to more easily share controlled technologies with the U.K., Australia and other close allies (see 2302170022), experts said last week. If Congress and the administration don’t move quickly to relax ITAR restrictions, the Australia-U.K.-U.S. (AUKUS) partnership will fail, they said, and U.S. military capabilities could fall behind China and other countries.