Tag Archives: petroleum

OFAC Publishes Amended Iraq Stabilization and Insurgency Sanctions Regulations

Effective 28 December 2017, US Treasury’s Office of Foreign Assets Control (OFAC) amended the Iraq Stabilization and Insurgency Sanctions Regulations, 31 CFR part 576, to implement Executive Order (EO) 13668 (“Ending Immunities Granted to the Development Fund for Iraq and Certain Other Iraqi Property and Interests in Property Pursuant to Executive Order 13303, as amended”). … Continue Reading

BIS Amends the Export Administration Regulations to Remove Controls on Domestic Crude Oil Exports

The US Commerce Department’s Bureau of Industry and Security (BIS) published a final rule implementing changes to the Export Administration Regulations’ (EAR) Short Supply controls on US domestic crude oil. The rulemaking implements changes to the Short Supply controls provisions of the EAR and Commerce Control List (including removing ECCN 1C981) that came into effect in December 2015, under the … Continue Reading
LexBlog