Complying with export regulations can be hard! Knowing where to find the regulations, how to interpret them and apply them to your business in a constantly dynamic and changing environment is challenging to say the least; not to mention that regulations are not static. This means what was okay last week, may not be okay…
“Toto, I have a feeling we’re not in Kansas anymore.” Sorry, Dorothy, but we aren’t over the rainbow, either. Specifically, we’re across the ocean … in a place called Russia. Talking about a Kansas-based company named (wait for it) … KanRus Trading. Here’s what transpired in this not-so-fairytale ending. Two Americans stand accused of violating…
If you’ve spent the last year-and-a-half focused on Russia, hold that thought, and don’t take your eye off other bad actors around the world. That’s what the U.S. Government is warning with its third joint notice, published earlier this month. The previous two notices were specific to Russia. Now, the new notice warns U.S. institutions…
What Is The Importance Of Denied Party Screening? Denied party screening is like a safety net for businesses, helping you dodge legal hassles that can cost lots of money and a lost reputation. In essence, it’s a way to make sure a business isn’t unwittingly dealing with a party that’s on the government’s naughty list…
Not surprisingly, last month’s G7 Summit solidified the persistent and unified commitment in support of Ukraine through new sanctions and export restrictions on Russia and Belarus. The purpose remains the same – the G7 countries’ continuation to cripple Russia’s ability to source goods and technology required for the war in Ukraine. This results in the…
Trade Compliance Specialists juggle many tasks to ensure their company’s exported and imported goods remain compliant. Their hard work helps uphold the organization’s reputation and ensures the global supply chain is uninterrupted by compliance issues. So when you start a new compliance job, you’ll have to hit the ground running to keep your compliance tasks…
It’s been a year since Russia launched its invasion of Ukraine. During that time, the Treasury Department’s Office of Foreign Assets Control (OFAC) has implemented sweeping sanctions, export controls and other measures against Russia. This includes adding more than 2,500 targets to the SDN List and sanctioning 80% of Russian banks. Now, OFAC is targeting…
“We don’t export anything.” This is something we hear all the time. Sometimes, it’s followed by: “Well, we do ship stuff to Canada. Does that count?” (Pro Tip: Yes, it counts.) But other times, our clients really don’t put something in a box and send it to a foreign country. Yet, they still need help….
When I started my career in trade compliance in 1990, our friends and foes were discussed in terms of “COCOM” – Coordinating Committee for Multilateral Export Controls. COCOM was an established group of “western bloc” member states and cooperating countries whose mission was to enact an embargo on “eastern bloc” countries (mainly Russia). During this…
December 1989. Dresden, East Germany. The Berlin Wall has fallen, heralding the end of the Cold War. A surge of pro-democracy sentiment sweeps through Eastern Europe. One fateful night in December, a crowd of demonstrators tries to storm a nondescript building known to be the East German headquarters of the KGB. Rushing outside, a panicked,…