Switzerland's State Secretariat for Economic Affairs on Nov. 1 amended 224 entries under its Russia sanctions regime. The updates were for 181 people and 43 entities and, for many, gave more specific reasons for the listings. The changes took effect Nov. 2.
The Guernsey Financial Services Commission on Nov. 1 called on companies to submit reports involving frozen assets linked to parties designated under the Russia sanctions list. Businesses that "hold or control frozen assets" of the sanctioned parties, "or which have an ongoing connection to frozen assets outside" Guernsey, should report certain information about those assets to the government by Nov. 24.
The House on Nov. 3 passed a bill that could lead to new primary and secondary sanctions on foreign ports and refineries that process or accept petroleum exported from or originating in Iran. The Stop Harboring Iranian Petroleum Act, passed 342-69, could also lead to sanctions on any entity that “transports, offloads, or otherwise deals in petroleum originating in Iran, including vessels engaging in ship-to-ship transfers of petroleum,” according to a press release from Rep. Mike Lawler, R-N.Y., who introduced the bill alongside Rep. Jared Moskowitz, D-Fla.
The Office of Foreign Assets Control last week sanctioned Ekaterina Zhdanova, a Russian national who the agency said has laundered money and moved funds on behalf of wealthy Russians using virtual currency.
CBP officers seized a shipment of China-bound deuterium cylinders that was exported without a license, the agency said in a statement on Oct. 31. The shipment, which was seized on Oct. 18 in Norfolk, Virginia, was worth a little more than $175,000, CBP said.
The Bureau of Industry and Security last week completed rounds of interagency review for two rules, including one that could make changes to a license exception in the Export Administration Regulations.
As the EU implements its new import restrictions on Russian iron and steel, European companies are starting to ask U.S. exporters whether their products contain those Russian metals, said Scott Gearity, a consultant with the Export Compliance Training Institute. Gearity said most U.S. companies shouldn’t face any legal issues in making that certification, and Bailey Reichelt, a lawyer with Aegis Trade Law, stressed that companies don’t need to include an end-use statement as part of every benign contract, a practice that could scare potential customers that don’t deal in items subject to trade controls.
Mary Thornton, former head of trade and export controls policy at Amazon Web Services, joined the Semiconductor Industry Association as vice president of global policy, SIA announced Nov. 2. Thornton will lead SIA’s global trade and economic security policy initiatives. Before joining Amazon, she was a senior trade negotiator with the Office of the U.S. Trade Representative, where she served as the U.S. trade attache to the World Trade Organization.
Companies receiving a subpoena from U.S. sanctions and export control agencies should be “careful not to over respond,” which can lead to more questions from the government and potentially an expanded investigation, Torres Trade Law said in an Oct. 31 client alert. Although businesses receiving a subpoena are generally required to respond, the company should first take time to determine why it received the request and have “internal discussions with relevant personnel to gain an understanding of the situation before submitting a response.” It’s “always a good idea to review the scope of an information request and be deliberate in responding within those parameters,” the firm said.
Rep. Gregory Meeks of New York, the top Democrat on the House Foreign Affairs Committee, applauded the Treasury Department’s new sanctions this week against the Myanmar state-owned Myanma Oil and Gas Enterprise (see 2310310028), saying the measures will “disrupt the junta’s access to the U.S. financial system and curtail its ability to commit further human rights violations.”