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…
Export compliance can sometimes feel like a jigsaw puzzle that keeps adding pieces faster than you can find out where they go. In recent years, these regulations continue to change and become more complex. (Just count the pages in the Federal Register notices. They keep piling up!) Now more than ever, it’s crucial to understand…
Is it getting hot in here? Or is it just summer approaching? If you’re feeling a little “toasty,” we’re here to say that you aren’t imagining things. The agency responsible for the Export Administration Regulations (EAR) just turned up the heat on exporters. Earlier this month, the Bureau of Industry and Security (BIS) released updated…
In the Chinese zodiac, 2023 is the Year of the Rabbit. The rabbit symbolizes many different attributes, including cautiousness and self-protection. During a recent gathering of trade compliance professionals, I heard someone mention that 2023 is “the year of export enforcement.” I must say that I agree. These two types of “years” seem to fit…
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…
Earlier this month, a 72-year-old Virginia man pleaded guilty to conspiring to violate Iranian sanctions. Behrouz Mokhtari of McLean, VA, is a naturalized U.S. citizen and a native of Tehran, Iran. According to the Justice Department, from March 2018 until approximately September 2020, Mokhtari conspired to evade Iranian sanctions administered by the Treasury Department’s Office…
It just got more expensive to violate U.S. import/export regulations. In recent weeks, the various governmental agencies who administer and enforce these regulations have released updated penalty amounts. The main culprit? Everyone’s favorite “I” word – inflation! Here’s a rundown of the new changes. Directorate of Defense Trade Control (DDTC) DDTC is the Department of…
It may “take two to tango,” but it takes 27,000 sanctions violations to dance with the Treasury Department’s Office of Foreign Assets Control (OFAC). Last month, Tango Card, Inc. agreed to pay $116,000 to settle these violations. This case serves as an important reminder for any ecommerce business. How a gift card company got in…
Remember the postcard tax return? It’s been touted by various government officials since 1950. The idea is simple (and beautiful): What if you could file your taxes on a simple, easy-to-use postcard? Just imagine all the hours you could save! Or how about Form 1040EZ? The name itself underscores the simplicity. That is, until you…
Are you shopping for explosives to use in your next gold mining operation? (Well, of course you are! Isn’t everyone?) Here’s some free professional advice: Don’t purchase these explosives from Cuba. Specifically, from a state-owned entity that is subject to the Office of Foreign Assets Control’s (OFAC) Cuban Assets Control Regulations (CACR). Otherwise, you could…