Export Compliance Daily is providing readers with the top stories from last week in case you missed them. You can find any article by searching for the title or by clicking on the hyperlinked reference number.
The EU should require member states to report Russia-related sanctions enforcement data, audit their sanctions implementation efforts and step up enforcement against violators, a think tank network said in a set of 11 policy recommendations for 2024. The group said implementation and enforcement of Russia sanctions “will be critical” this year.
The House on Jan. 12 passed a bill aimed at helping the Treasury Department find terrorists, Russian oligarchs and corrupt government officials.
The Office of Foreign Assets Control last week removed sanctions for 9H-OKO, an aircraft that it had sanctioned in 2022 for being owned by Emperor Aviation, a Malta- and Russia-based aircraft management company. The agency didn’t provide more information about the removal.
A new set of U.S. sanctions last week targeted one person and three entities involved in transferring and testing missiles shipped between North Korea and Russia, the State Department said.
Turkish trading company Cncform Group is selling computer numerical control machines to Russian importers with ties to sanctioned Russian aviation companies and military end users, according to compliance risk advisory firm Kharon.
A new U.S. executive order significantly raises Russia-related compliance risks for foreign banks that may have thought they weren’t subject to U.S. sanctions authorities, law firms said this month. The order also could lead to new risks for U.S. businesses, the firms said, which may need to conduct more due diligence on any foreign financial institutions with ties to their supply chains.
The Office of Foreign Assets Control this week sanctioned one person, two entities and three aircraft with ties to Russia, according to a Jan. 11 update to its Specially Designated Nationals List. The designations target Vladimir Vladimirovich Mikheychik, Ashuluk Firing Range, and Vladimirovka Advanced Weapons and Research Complex. OFAC also sanctioned aircraft with tail numbers RF-78757, RF-82011 and RF-86898.
Businesses and industry lawyers should expect to see an increase in Foreign Corrupt Practices Act enforcement this year, especially as DOJ more frequently uses data analytics to find possible violations, said Dan Kahn, the former chief of DOJ’s FCPA unit.
The U.K.'s Office of Financial Sanctions Implementation on Jan. 9 published its "Asset Reporting Privacy Policy," outlining how the agency will use personal data of designated parties under the Russia sanctions regime. The agency collects the sanctioned parties' names, email addresses, residential addresses and financial information.