Tag Archives: Syria

OFAC and JPMorgan Chase Bank Agree on Settlement

On October 5, 2018, the US Department of the Treasury, Office of Foreign Assets Control (OFAC) announced an agreement with JPMorgan Chase Bank, N.A. (JPMC) to settle potential civil liability arising from 87 apparent violations of the Cuban Assets Control Regulations, the Iranian Transactions and Sanctions Regulations, and the Weapons of Mass Destruction Proliferators Sanctions Regulations. According to OFAC, “the transactions … Continue Reading

HMRC Publishes Advisory Notice on Money Laundering and Terrorist Financing Controls in Overseas Jurisdictions

On 23 June 2017, the Financial Action Task Force (FATF) published information identifying jurisdictions with deficiencies in their antimoney laundering and counter-terrorist financing regimes. In response to this published information by the FATF, in its advisory notice, HM Treasury advises firms to consider North Korea and Iran as high-risk jurisdictions for the purposes of the Money Laundering Regulations 2007, and … Continue Reading

EU General Court Rejects Syria Annulment Application

On 18 May, the General Court of the EU dismissed Rami Makhlouf’s annulment application for his listing on the EU’s restrictive measures targeting Syria. The General Court did so on the basis that he is a member of the Makhlouf family, has close ties to and supports the Assad regime, and is an influential businessman … Continue Reading

Council of the European Union Extends Sanctions Against Syria Until 1 June 2018

On 30 May, the Council adopted Decision 2017/917 that extends the EU’s sanctions against Syria until 1 June 2018, amending Council Decision 2013/255/CFSP. The sanctions impose travel bans and asset freezes against individuals supporting or associated with the Syrian regime or oppression in the country. A total of three ministers of the Syrian government have … Continue Reading

OFAC Sanctions Staff of the Syrian Scientific Studies and Research Center

On 24 April 2017, the US Treasury Department’s Office of Foreign Assets Control (OFAC) designated 271 persons working in the Syrian Scientific Studies and Research Center to be added to the agency’s Specially Designated Nationals (SDN) and Blocked Persons List. In its press release announcing the action, OFAC attributed the Syrian Scientific Studies and Research … Continue Reading

EU Amends Its Sanctions on Syria

The European Council has amended its sanctions against Syria in order to allow for the otherwise prohibited purchase or transportation of oil and petroleum products in Syria, where the sole purpose is to provide humanitarian relief or assistance to the Syrian population. The amendments also include a corresponding derogation from the asset freeze and travel … Continue Reading

Trade Talk: Week in Review (24-30 January 2017)

In his first week in office, President Donald Trump signed a series of documents under his executive authorities on topics ranging from trade to national security to immigration, including on “extreme vetting” of persons from select Arab countries and establishing an indefinite ban on refugees from Syria.  Speaker of the House Paul Ryan (R-Wisconsin) also … Continue Reading

Trade Talk: Week in Review (4-9 January 2017)

President Barack Obama will travel to Chicago on Tuesday, 10 January, to deliver his farewell address to the nation.  U.S. businessman Donald Trump will be sworn in as the 45th President of the United States on Friday, 20 January. Trump Transition News – Confirmation Hearings.  Senate Foreign Relations Committee (SFRC) Chairman Bob Corker (R-Tennessee) has … Continue Reading

EU De-Lists Two Syrian Firms After Successful Annulment Applications

The EU Council has de-listed Tri-Ocean Energy and its subsidiary Tri-Ocean Trading from its sanctions against Syria. The de-listings arose from their successful annulment applications in the General Court of the EU in September 2016. In annulling their listings, the Court said that the Council had not properly identified the two entities, and had not … Continue Reading

EU Adds 10 People to Its Sanctions Against Syria

The EU Council has renewed the EU sanctions against Burundi until 31 October 2017. The sanctions include travel bans and asset freezes against four people whose activities are deemed to be undermining democracy or obstructing the search for a political solution to the crisis in Burundi. The EU Council’s press release stated that the absence of progress in the situation … Continue Reading

Trade Talk: Week in Review (29 August – 5 September 2016)

The U.S. Congress returns to Washington on Tuesday after a six-week recess.  On Monday, Senate Foreign Relations Committee (SFRC) Chairman Bob Corker (R-Tennessee) issued a statement on the perceived lack of strong U.S. leadership, setting the stage for potentially-increased Republican oversight this fall: Just as we saw our allies in Europe dissing us over the … Continue Reading

Trade Talk – Week in Review (23-27 May 2016)

G-7 Leaders’ Declaration.   The G-7 Leaders’ Declaration issued on Friday from Ise-Shima, Japan, touched on topics such as the global economy, trade, maritime security, cyberspace, anti-corruption, infrastructure, global health challenges, climate change and female empowerment.  The Leaders advocated TPP member states ratify the agreement, while also addressing the global excess steel capacity issue, government subsidies … Continue Reading

UK Export Control Organisation (ECO) Amends the Open General Export Licence: International Non-Proliferation Regime Decontrols: Dual-Use Items

The changes include the revision of the goods schedule to reflect, amongst other things, goods due to be decontrolled following regime meetings in 2015 and changes to the EU Dual-Use List in December 2015. Russia and Syria have now been added to the excluded destinations list and some terms and conditions have also been modified. Dependent on whether goods … Continue Reading

British Citizen Extradited to US for Alleged Export Violations

A British citizen was extradited from the UK to the US in connection with charges that he conspired with his brother and an American to illegally export lab equipment from the US to Syria. The conspirants allegedly prepared invoices that undervalued and mislabelled the lab equipment, which included industrial engines, gas masks and chemical warfare … Continue Reading
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