Iran Export Controls

Export Compliance Daily is providing readers with some of the top stories for June 24-28 in case they were missed.

A Senate bill introduced June 13 with bipartisan support would require the Trump administration to submit reports to Congress on whether Hong Kong is following U.S. export control laws and sanctions. The requirement, part of a bill that would amend the Hong Kong Policy Act of 1992, would order the Treasury, State and Commerce secretaries to send several House and Senate committees a report on whether Hong Kong has enforced U.S. export controls with respect to “sensitive dual-use items” and abided by both U.S. and United Nations sanctions. The administration would need to submit the reports within 180 days after the enactment of the bill, which was introduced by Sen. Marco Rubio, R-Fla.

The Treasury’s Office of Foreign Assets Control sanctioned the Persian Gulf Petrochemical Industries Company (PGPIC), Iran’s “largest and most profitable petrochemical holding group,” as well as 39 of its subsidiaries, Treasury said in a June 7 press release. PGPIC was sanctioned for funding Khatam al-Anbiya Construction Headquarters, which Treasury said is the “engineering conglomerate” of the Islamic Revolutionary Guard Corps.

Export Compliance Daily is providing readers with some of the top stories for May 13-17 in case they were missed.

There seems to be a growing interest in ways to evade U.S. sanctions and export controls, several experts said while speaking at a House Foreign Affairs subcommittee hearing on May 9. One panelist specifically pointed to China, which he said he expects to begin smuggling oil from Iran to avoid U.S. sanctions.

The Trump administration on May 8 announced an executive order placing sanctions on Iran’s iron, steel, aluminum and copper sectors in what it said are the country’s “largest non-petroleum-related sources of export revenue."

Export Compliance Daily is providing readers with some of the top stories for April 29 -May 3 in case they were missed.

Export Compliance Daily is providing readers with some of the top stories for April 22-26 in case they were missed.

The Trump administration's decision to end exemptions for Iranian oil sanctions will have a “more tangible impact on business” than many of the administration's previous sanctions designations against Iran, according to Johann Strauss, an international trade lawyer at Akin Gump. The move, announced by Secretary of State Mike Pompeo on April 22, was aimed at choking off Iran’s oil exports and came about a week after the Treasury’s Office of Foreign Assets Control announced it was designating Iran’s Islamic Revolutionary Guard Corps (see 1904220021).

The Trump administration will no longer grant exemptions for Iranian oil sanctions, Secretary of State Mike Pompeo told reporters April 22, a move aimed at sharply reducing Iran’s oil exports and tightening pressure on the country to comply with U.S. demands. The current set of exemption waivers expire in early May, the White House said in a statement.