On 21 September 2021, the US Treasury Department’s Office of Foreign Assets Control issued an updated ransomware advisory highlighting the sanctions risks associated with ransomware payments in connection with malicious cyber-enabled activities and the proactive steps companies can take to mitigate such risks, including actions that OFAC would consider to be “mitigating factors” in any related enforcement action. OFAC concurrently designated SUEX OTC, SRO as a Specially Designated National, the first designated virtual currency exchange.

We are pleased to invite you to our annual virtual Global Year-End Review of Import/Export/Trade Compliance Developments. Our international trade compliance lawyers from around the world will review the major global legislative, judicial and administrative activities and trends in export controls, trade sanctions, customs compliance, and import requirements which will be 16-18 November 2021.

On July 12, 2021, the US Treasury Department’s Office of Foreign Assets Control (“OFAC”) issued Venezuela General License 40 (“GL 40”), “Authorizing Certain Transactions Involving the Exportation or Reexportation of Liquefied Petroleum Gas to Venezuela.” OFAC concurrently issued related FAQs (FAQ 914 and FAQ 915). Our previous blog posts about US sanctions targeting Venezuela are available here.

The Virtual Global Trade Conference is a virtual offering for all our clients and friends worldwide. Baker McKenzie’s international trade compliance lawyers from around the world discussed the major developments impacting international trade, in nine one-hour sessions which took place from 13 to 15 July 2021.

Welcome to our Virtual Global Trade Conference, a virtual offering for all our clients and friends worldwide. Baker McKenzie’s international trade compliance lawyers from around the world discussed the major developments impacting international trade. The sessions include trade policy, exports, sanctions, customs, China trade developments and trade developments.

On June 9, 2021, the US Department of Commerce’s Bureau of Industry and Security (BIS) issued a final rule, effective June 8, amending the Export Administration Regulations (EAR) to reflect the formal termination by the United Arab Emirates (UAE) of its participation in the Arab League Boycott of Israel (the “Amendment”). This means that certain requests for information, action or agreement from the UAE will no longer be presumed to be boycott-related if made after August 16, 2020.

On June 9, 2021, the US Department of Commerce’s Bureau of Industry and Security (BIS) issued a final rule, effective June 8, amending the Export Administration Regulations (EAR) to reflect the formal termination by the United Arab Emirates (UAE) of its participation in the Arab League Boycott of Israel (the “Amendment”). This means that certain requests for information, action or agreement from the UAE will no longer be presumed to be boycott-related if made after August 16, 2020.

We are pleased to invite you to our Virtual Global Trade Conference. In lieu of our annual conference in Bellevue, WA, we are excited to again provide a virtual offering available to all our clients and friends worldwide! The conference will be comprised of nine one-hour sessions over the course of three days.

On March 29, 2021, the Commerce Department published an advance notice of proposed rulemaking (ANPRM) seeking public comment on potential licensing or other pre-clearance processes for transactions under the regulations that took effect on March 22, 2021 to implement Executive Order 13873, “Securing the Information and Communications Technology and Services Supply Chain” (Executive Order…

On February 16, 2021, the US Treasury Department’s Office of Foreign Assets Control (OFAC) removed Ansarallah, a political movement and militia group in Yemen also known as the Houthis, from the Specially Designated Nationals and Blocked Persons List (“SDN List”). Ansarallah had been added to the SDN List on January 19, 2021,…