The Office of Foreign Assets Control this week extended two Venezuela-related general licenses, one that renews the current authorization for certain transactions with state-owned energy company Petroleos de Venezuela and another that delays an exemption that would authorize certain transactions with PdVSA.
The Office of Foreign Assets Control this week sanctioned Prointer ITSS general director Vladimir Perisic and Elpring d.o.o. Laktasi for their ties to a “corrupt patronage network” that supports the president of Bosnia and Herzegovina and the country’s sanctions evasion attempts. OFAC said President Milorad Dodik and his son use Perisic and others to control private companies that are awarded government contracts, including Elpring.
A Texas-headquartered offshore drilling company is filing a voluntary disclosure with the Office of Foreign Assets Control after its former Russian subsidiary may have breached U.S. sanctions, according to corporate filings.
The U.S. this week unveiled new trade and financial restrictions against people and companies across more than 17 countries for helping Russia evade sanctions or for supporting the country’s military, adding nearly 400 to the Treasury Department’s sanctions list and more than 40 to the Commerce Department’s Entity List. Another move by Commerce will tighten existing controls on nearly 50 entities that it said are procuring U.S.-branded microelectronics for Russia.
An updated general license issued by the U.K. this week increases the cap on fees that can be paid to British law firms by parties subject to Russia-related sanctions, clarifies how the license applies to in-house lawyers, and more.
The U.K.’s Export Control Joint Unit this week updated two open general export licenses related to the multi-country F-35 joint strike fighter program -- a defense acquisition effort by the U.K., the U.S. and others to replace fighter jets among allied countries.
China released new dual-use export control regulations Oct. 19, including details about its export licensing system, how Beijing will verify end-users of export-controlled items, how the rules may apply outside the country, and a method for adding restricted foreign importers, end-users and others who violate Chinese export controls to a new “control list.”
Diego Ortega, former sanctions regulations adviser at the Office of Foreign Assets Control, has joined Faegre Drinker as a government and regulatory counsel, the firm announced. Ortega worked for over three years at OFAC, where he drafted and published regulations implementing U.S. sanctions authorities and general licenses.
Reps. Debbie Wasserman Schultz, D-Fla., and Maria Salazar, R-Fla., introduced a bill Oct. 15 that would prohibit U.S. firms from doing certain business with Venezuela’s energy sector, including its state-owned oil company, until President Nicolas Maduro concedes he lost the July 28 election.
A new U.K. general license authorizes certain transactions with sanctioned parties involving U.K. government debt. The license, issued Oct. 14, allows certain payments "in respect of UK Government Debt where either the legal holder or the direct or indirect recipient or beneficiary of that payment is a UK" sanctioned or "prohibited" party, "provided the payments are held in Frozen Accounts or UK Prohibited Persons Accounts." The license defines "prohibited" parties as people and entities subject to certain sanctions against Russia or Belarus, and it defines "UK Government Debt" to mean "all securities issued by, or on behalf of His Majesty's Government in respect of money borrowed by His Majesty's Government."