Export Compliance Daily is providing readers with some of the top stories for July 22-26 in case they were missed.
The Office of Foreign Assets Control’s amendments to its reporting, procedures and penalties regulations are unclear and too broad, the Association of University Export Control Officers and The Clearing House Association said in July 22 comments, joining a series of trade associations that have been critical of the regulations' amendments.
The Treasury’s Office of Foreign Assets Control sanctioned a North Korean citizen in Vietnam for being a North Korean political official and working for a sanctioned North Korean entity, Treasury said in a July 29 press release. Kim Su Il had “ties” to the Workers’ Party of Korea and is an employee of the Munitions Industry Department (MID), which is sanctioned by both the United Nations and the U.S. for being involved with North Korea’s missile program, the press release said. Treasury said Kim Su Il worked for the MID in Vietnam and has exported “anthracite coal, titanium ore concentrate” and imported and exported “various other goods, including raw materials, to and from North Korea.” He also exported Vietnamese products to China, North Korea and other countries, the press release said. Along with trading, Kim Su Il also chartered ships.
The Office of Foreign Assets Control’s amendments to its reporting, procedures and penalties regulations are unnecessary, unclear and “overly burdensome” on the U.S. forwarding industry, the National Customs Brokers & Forwarders Association of America said in comments to the agency. The comments stem from OFAC’s June 21 interim final rule on the regulations’ amendments, which expands the scope of certain transactions that must be reported to the Treasury (see 1906200036). The American Association of Exporters and Importers also criticized the amendments, saying they have caused U.S. companies a “great deal of confusion” (see 1907230054).
The Treasury’s Office of Foreign Assets Control issued an amended general license on July 26 that authorizes certain transactions with Petroleos de Venezuela, S.A., Venezuela's state-run oil company. General License 8B, replacing General License 8A, authorizes certain transactions made before July 26 that are necessary to maintain agreements with Venezuela. The license authorizes the transactions for Chevron Corp., Halliburton, Schlumberger Ltd., Baker Hughes and Weatherford International, the license says. The transactions are authorized until Oct. 25.
The Treasury’s Office of Foreign Assets Control sanctioned a Colombian national, his business associates, family members and a collection of shell companies that has propped up the Nicolas Maduro regime through food imports and distribution in Venezuela, Treasury said in a July 25 press release. OFAC sanctioned Alex Nain Saab Moran, nine other associates and 13 entities for participating in the scheme.
The Treasury’s Office of Foreign Assets Control issued an advisory on Iran’s “deceptive practices” in the civil aviation industry, detailing Iran’s use of commercial airlines for terrorism, weapons programs and sanctions violations. The eight-page advisory, issued July 23, lists several practices U.S. companies should be aware of to avoid violating U.S. sanctions against Iran. The advisory also reviews the U.S.’s current Iran sanctions regime as well as penalties for committing violations.
Export Compliance Daily is providing readers with some of the top stories for July 15-19 in case they were missed.
The Office of Foreign Assets Control’s amendments to its reporting, procedures and penalties regulations has caused a “great deal of confusion” among U.S. companies, the American Association of Exporters and Importers said in July 22 comments to the agency. AAEI said several of the updates are unclear, including OFAC’s new reporting requirements for rejected transactions and the update that expands the scope of transactions that must be reported.
The Treasury's Office of Foreign Assets Control announced sanctions on a Chinese national and a Chinese entity under OFAC’s Iran-related sanctions regime, the agency said in a notice. OFAC is sanctioning Youmin Li and Zhuhai Zhenrong Company Limited, an entity with addresses in Beijing and Guangdong, OFAC said. Both Youmin and Zhuhai Zhenrong were added to OFAC’s Specially Designated Nationals List.