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. Now more than ever, it’s crucial to understand these rules and regulations, why they are important, who is enforcing them, and what are the consequences. Here are some ways the regulations are growing in complexity, and what you can do to stay ahead of the game.
This month, U.S. authorities imposed a $300 million civil penalty against Seagate Technology over its lucrative relationship with blacklisted Chinese technology firm Huawei Technologies. It is the largest ever stand-alone administrative resolution in the agency's history.
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.
“Roads? Where we’re going we don’t need roads.” Are flying cars actually a thing? And if so, how are they being controlled for export?
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 well together.
Trade compliance tools make life easier for busy professionals. Here are the top resources to help you stay on top of your compliance tasks.
Not all consultants are created equal. When it comes to your company's trade compliance, make sure you are hiring the right firm for the job. Here are some common red flags to consider when looking for an import/export compliance consultant to help your business.
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 those who are trying to evade the sanctions.
“We don’t export anything.” This is something we hear all the time. Sometimes, our clients really don’t put something in a box and send it to a foreign country. Yet, they still need help. At first, you may think to yourself: “That’s weird. Why would a company that doesn’t export need a compliance program for exports?” However, there are certain scenarios when even those businesses that don’t “export” in the traditional sense still need to think about export control laws and regulations. Let’s look at a few.
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.