The U.K.'s Department for International Trade on Nov. 21 updated its strategic export controls guidance. The guidance includes information on the country's export control lists, how its export controls are applied and how exporters can apply for a license, penalties and fines.
The Commerce and Treasury departments earlier this month co-hosted a virtual “exchange” with small to mid-sized financial institutions, law enforcement and government agencies to discuss Russian attempts to evade export controls, the agencies announced Nov. 21. The exchange included officials from the Bureau of Industry and Security, the Office of Foreign Assets Control and the Financial Crimes Enforcement Network, and “exemplified the ongoing U.S. Government effort to further constrain and prevent Russia from accessing the international financial system and conduct economic activity to fund its invasion of Ukraine,” Treasury said. The effort came about a week after BIS and FinCEN issued another set of export control evasion red flags for financial services firms along with a new key term that banks and others can include in their suspicious activity reports (see 2311060055).
Risk intelligence firm Kharon has found nearly 700 additional entities that may be subject to sanctions as a result of the more than 200 Russia-related designations announced by the U.S. and the U.K. earlier this month (see 2311020015 and 2311080031). The firm said the additional companies, located across more than 20 jurisdictions, are majority owned by the new U.S.- and U.K.-sanctioned targets but weren’t publicly named in the two governments’ announcements.
John Pisa-Relli, trade compliance counsel with GE Aerospace, will join the Office of Foreign Assets Control next month to serve as the agency’s enforcement liaison to U.S. federal and state law enforcement and regulatory agencies, he announced this week on LinkedIn. Pisa-Relli previously worked as a liaison for OFAC from 2003 to 2005.
The State Department’s Directorate of Defense Trade Controls issued a reminder to industry that on Nov. 18 it officially migrated to the “FedRAMP High instance of a multifactor authentication solution” in its Defense Export Control and Compliance System to improve security (see 2310170005). All users who didn't log into DECCS before Nov, 18 will need to contact the DDTC Help Desk to have their account password reset, the agency said. "Once reset, users will be able to log into DECCS as normal."
Senate Democrats said they supported the Biden administration’s recent decision to suspend certain sanctions against Venezuela but urged the president to reimpose the measures “absent concrete steps by” the Nicolas Maduro-led regime to end its crackdown on civil society and political opposition.
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The Office of Foreign Assets Control on Nov. 21 announced a $968 million settlement with Binance, the world’s largest virtual currency exchange, for allegedly violating multiple U.S. sanctions programs when the company allowed people who were either subject to sanctions or located in sanctioned jurisdictions to use its platform. OFAC said Binance senior management knew they were illegally allowing sanctioned users to access its online exchange platform and took steps to “undermine” the company’s own compliance procedures.
Gary Locke, former U.S. commerce secretary and ambassador to China, has joined Dorsey & Whitney as a senior advisor in the Seattle office, the firm announced. Locke currently chairs Committee of 100, a "leading organization for Chinese Ameircans," and will help guide Dorsey's international practice, the firm said. Locke has a background in foreign direct investment, export controls, government relations and "cross-cultural diplomacy," the firm said.
The U.K. High Court in a decision released Nov. 15 said Senegalese oil trading company Der Mond Oil and Gas couldn't rely on sanctions as a reason for not paying Russian company Litasco SA for money due under an oil sale contract.