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1 month ago | 
lexology.com | Scott Diamond |Dan Ujczo |David Schwartz |Francesca M.S. Guerrero |Aaron Mandelbaum
As previously announced by President Donald Trump, the Section 232 steel and aluminum 25% ad valorem tariffs went into effect 12:01 a.m., March 12, 2025, against all steel and aluminum articles and all listed derivatives, including many automotive, construction and consumer products. Aluminum articles and their derivative products from Russia are subject to 200% tariffs.
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Apr 26, 2024 | 
lexblog.com | Francesca M.S. Guerrero |Samir D. Varma |Aaron Mandelbaum
On April 26, 2024, the Department of Commerce’s Bureau of Industry and Security (BIS) published a final rule introducing the new License Exception MED that enables delivery of humanitarian medical devices to the citizens of Russia, Belarus, and the Crimea region of Ukraine, and the occupied regions of Donetsk and Luhansk. This license exception is an effort to formalize the U.S. policy of authorizing the export of medical devices to support civilian populaces.
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Apr 19, 2024 | 
lexblog.com | Francesca M.S. Guerrero |Samir D. Varma |Aaron Mandelbaum
On April 18, 2024, the Departments of Commerce and the Treasury announced combined export control restrictions and economic sanctions against Iran for its attach on Israel on April 13, 2024. These actions are intended “to degrade and disrupt key aspects of Iran’s malign activity, including its UAV [Unmanned Aerial Vehicles] program and the revenue the regime generates to support its terrorism” and to further restrict Iran’s access to commercial grade microelectronics.
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Apr 19, 2024 | 
lexology.com | Francesca M.S. Guerrero |Scott King |Samir D. Varma |Aaron Mandelbaum
On April 18, 2024, the Departments of Commerce and the Treasury announced combined export control restrictions and economic sanctions against Iran for its attack on Israel on April 13, 2024. These actions are intended “to degrade and disrupt key aspects of Iran’s malign activity, including its UAV [Unmanned Aerial Vehicles] program and the revenue the regime generates to support its terrorism” and to further restrict Iran’s access to commercial grade microelectronics.
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Apr 18, 2024 | 
lexblog.com | Francesca M.S. Guerrero |Samir D. Varma |Aaron Mandelbaum
To “further enhance defense industrial base cooperation and technology innovation with Australia and the United Kingdom,” the Department of Commerce’s Bureau of Industry and Security (“BIS”) issued an interim final rule (“IFR”) on April 18, 2024 to ease various licensing requirements prescribed by the Export Administration Regulations (“EAR”) for exports, reexports, or transfers (in-country) to or within the two countries.
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Apr 18, 2024 | 
lexblog.com | Francesca M.S. Guerrero |Samir D. Varma |Aaron Mandelbaum
On April 17, 2024, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) issued Venezuela-related General License 44A, “Authorizing the Wind Down of Transactions Related to Oil or Gas Sector Operations in Venezuela.” This license replaces General License (GL) 44 that was issued in October 2023 allowing for certain activities in this sector, including those involving Petróleos de Venezuela S.A. (PdVSA) and its 50% or more owned entities (PdVSA Entities), otherwise prohibited...
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Apr 15, 2024 | 
lexblog.com | Francesca M.S. Guerrero |Samir D. Varma |Aaron Mandelbaum
On April 15, 2024, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) issued General License (GL) 5O, “Authorizing Certain Transactions Related to the Petróleos de Venezuela, S.A. 2020 8.5 Percent Bond on or After August 13, 2024,” which continues to delay U.S. persons’ ability to enforce bondholder rights to the CITGO shares serving as collateral for the Petróleos de Venezuela, S.A. (PdVSA) 2020 8.5% bond until on or after August 13, 2024.
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Apr 4, 2024 | 
lexblog.com | Francesca M.S. Guerrero |Samir D. Varma |Aaron Mandelbaum
On April 4, 2024, the Department of Commerce’s Bureau of Industry and Security (BIS) released another Interim Final Rule (IFR) offering clarification and correcting inadvertent errors made in earlier rulemakings regarding the implementation of significant export controls on certain advanced computing items and supercomputer and semiconductor end use. This latest rule is effective April 4, 2024.
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Mar 29, 2024 | 
lexblog.com | Samir D. Varma |Francesca M.S. Guerrero |Aaron Mandelbaum
On March 28, 2024, the Department of Commerce’s Bureau of Industry and Security (BIS) announced a new resource to help identify boycott-related requests U.S. persons and companies may receive during the regular course of conducting business. The resource is a public list of entities identified as making a boycott-related request in reports received by the BIS and follows the BIS July 2023 policy memo implementing efforts to enhance enforcement and compliance with U.S. antiboycott regulations.
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Mar 22, 2024 | 
lexblog.com | Francesca M.S. Guerrero |Samir D. Varma |Aaron Mandelbaum
On March 20, 2024, the Department of Commerce’s Bureau of Industry and Security (BIS) issued a final rule implementing restrictions under the Export Administration Regulations (EAR) on persons who have been designated and placed on the Specially Designated Nationals (SDN) List maintained by the Department of the Treasury’s Office of Foreign Assets Control (OFAC).
