Features

Agencies Implement Cuba Travel, Trade Policy Reversal
In a move that might give U.S companies and travelers whiplash, export agencies formally implemented the Trump administration's new Cuba policy, reversing President Obama's progress toward more open relations with Havana.
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Focus on Enforcement

American Express Settles OFAC Charge for Belgian Subsidiary
American Express (AMEX) agreed Nov. 17, 2017, to pay Treasury's Office of Foreign Assets Control (OFAC) $204,277 to settle charges that a Belgian...
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Bank of America Pays to Settle Antiboycott Charges
Bank of America agreed Nov. 21, 2017, to pay a $44,625 civil penalty to settle 13 violations of Bureau of Industry and Security (BIS) antiboycott...
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Gold Trader Pleads Guilty to Evading Iran Sanctions
Iranian-Turkish gold trader Reza Zarrab pleaded guilty and became a government witness in a scheme to violate U.S. Iran sanctions by conducting...
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Indictment, Guilty Pleas in Foreign Bribery Scheme
A federal indictment against Petros Contoguris, a Greek citizen residing in Turkey, was unsealed in Columbus, Ohio, U.S. District Court Nov. 7,...
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NGO Head, Foreign Minister Charged with Violating FCPA
The head of a Hong Kong non-governmental organization (NGO) and the former foreign minister of Senegal were charged for their roles in a...
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OFAC Issues Slap on Wrist to Mass. Maritime Registry
Citing the company's size and limited scope of its conduct, Treasury's Office of Foreign Assets Control (OFAC) Nov. 28, 2017, issued a Finding of...
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Pa. Freight Forwarder Settles BIS Export Charge
Pilot Air Freight, a freight forwarder in Lima, Pa., agreed Nov. 21, 2017, to pay a $175,000 civil penalty to settle a Bureau of Industry and...
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SBM Offshore Pays to Settle FCPA Charges
SBM Offshore, a Dutch oil and gas services company, and its wholly owned U.S. subsidiary, SBM Offshore USA Inc. (SBM USA), agreed Nov. 29, 2017, to...
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Export Controls

Export Control Rules Held in Review Purgatory
Two months after the Office of Management and Budget (OMB) received parallel proposed rules on the transfers of items from U.S. Munitions List...
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Trade Sanctions

Administration Tightens North Korea Sanctions
Even before North Korea launched another intercontinental ballistic missile, the administration was tightening the already restrictive sanctions on...
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Policy Briefs

Bills to Update CFIUS Answer China Commission Request
Ask and ye shall receive. In its annual report to Congress Nov. 15, 2017, the U.S.-China Economic and Security Commission (USCC) recommended that...
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Justice Formalizes FCPA Enforcement After Pilot
After an 18-month pilot program to encourage cooperation in potential Foreign Corrupt Practices Act (FCPA) violations, Justice is enshrining those...
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End Notes

END NOTES
VENEZUELA : OFAC Nov. 9, 2017, designated ten current or former Venezuelan government officials, including members of National Electoral Council...
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