The OverRuled: BIS Export Controls Module has been updated with the following actions:
- 17 Dec 2024 - Integra Technologies, Inc. - No Denial Order; USD $3,300,000
On December 17, 2024, BIS issued an order approving a settlement between BIS and Integra Technologies, Inc. (the “Respondent”) in connection with 94 violations of the Export Administration Regulations (EAR), specifically 15 C.F.R. § 764.2(a). On 94 occasions between on or about February 27, 2023, and on or about October 27, 2023, Respondent sold and exported to end users in Russia items subject to the EAR and designated EAR99 with Harmonized Tariff Schedule-6 (“HTS”) code 854129, including transistors and related products valued at approximately $6,679,009, via two third-party distributors – all without the required license or authorization from BIS. As part of the settlement and order, the Respondent was assessed a civil penalty in the amount of $3,300,000.00. Respondent must pay the U.S. Department of Commerce $1,800,000.00 in twelve installments. The remaining $1,500,000.00 is suspended for a period of three years from the date of the order and will be waived if Respondent complies with the provisions of the settlement agreement and order.
The OverRuled: Russia Trade Controls Resource Center has been updated with the following actions:
- 18 Dec 2024 (Switzerland):
The State Secretariat for Economic Affairs ("SECO") published a form that needs to be used to report the provision of certain business-related services and software to Belarusian companies that are owned or controlled by Swiss/EEA parent companies.
- 18 Dec 2024 (EU):
The European Commission (the "Commission") updated its sanctions FAQs relating to the 'no re-export to Russia' clause, as required to be inserted in certain contracts by virtue of Article 12g of Council (EU) Regulation 833/2014 ("Regulation 833/2014").
- 17 Dec 2024 (EU):
The European Commission (the "Commission") updated its sanctions FAQs on divestment from Russia, in relation to Article 12b of Council Regulation (EU) No 833/2014 ("Regulation 833/2014").
- 17 Dec 2024 (BIS):
The Department of Commerce’s Bureau of Industry and Security (“BIS”) imposed a $3.3 million civil monetary penalty (with $1.5 million suspended) against California-based Integra Technologies, Inc. (“Integra”) for unauthorized shipments of export-controlled transistors and related products to end users in Russia.
- 12 Dec 2024 (Switzerland):
The Akin Summary document has now been posted for this action.
The Swiss Federal Department for Economic Affairs ("EAER") amended the list of sanctioned persons and entities and updated the list of goods subject to trade sanctions, in respect of its Russian sanctions regime.
- 11 Dec 2024 (EU):
The Akin Summary document has now been posted for this action.
The European Commission (the "Commission") updated its sanctions FAQs relating to 'Circumvention and Due Diligence'. The updated FAQs address the following issues;
- Whether EU banks are required to screen open account transactions for possible infringements of EU trade restrictions and, if so, how this screening should be organised;
- Whether EU operators who receive assets belonging to an EU designated person prior to their listing can be held accountable for accepting those assets;
- How sanctions circumvention violations are determined;
- How "knowingly and intentionally" should be interpreted when considering anti-circumvention clauses under Article 9 of Council Regulation (EU) No 269/2014 ("Regulation 269") and Article 12 of Council Regulation (EU) No 833/2014 ("Regulation 833"); and
- How the non-liability clause pursuant to Article 10 of Regulation 269 and Regulation 833 should be applied.
- 11 Dec 2024 (EU):
The Akin Summary document has now been posted for this action.
The European Commission (the "Commission") issued new sanctions FAQs in respect of 'Enhanced due diligence for operators manufacturing and/or trading with CHP items' (the "FAQs") under Article 12gb of Council Regulation (EU) No 833/2014 ("Regulation 833").
- 09 Dec 2024 (UK):
The Akin Summary document has now been posted for this action.
The Office of Financial Sanctions Implementation ("OFSI") designated Anto Joseph, pursuant to the Russia (Sanctions) (EU Exit) Regulations 2019.
- 05 Dec 2024 (UK):
The Akin Summary document has now been posted for this action.
The Office of Financial Sanctions Implementation (“OFSI”) revoked four General Licences ("GLs"):
- INT/2024/4836676 – Payments to the FCA;
- INT/2023/3626884 – Payments to Companies House;
- INT/2023/3781228 – Payments to Local Authorities; and
- INT/2024/4881897 – Payments to Revenue Authorities.
- INT/2024/4836676 – Payments to the FCA;
- 04 Dec 2024 (OFAC):
The Akin Summary document has now been posted for this action.
The U.S. Department of the Treasury's Office of Foreign Assets Control ("OFAC") designated five individuals and five entities pursuant to Russia-related Executive Order ("E.O.") 14024, as part of a collaborative effort with the United Kingdom’s National Crime Agency, the government of the United Arab Emirates, the Drug Enforcement Administration, and the Financial Crimes Enforcement Network to target the TGR Group, a network of international businesses that have helped Russian elites circumvent significant sanctions by exploiting digital assets.
- 29 Nov 2024 (Switzerland):
The Akin Summary document has now been posted for this action.
The State Secretariat for Economic Affairs ("SECO") published a form that needs to be used for certain requests for the release of frozen funds and/or economic resources.
- 27 Nov 2024 (Switzerland):
The Akin Summary document has now been posted for this action.
The Swiss Federal Council adopted two reports comparing applicable Swiss law with the EU Directive on asset recovery and confiscation, and the EU Directive on criminal offenses and penalties for the violation of EU sanctions.
The OverRuled: China Trade Controls Resource Center has been updated with the following actions:
- 19 Dec 2024 (OFAC):
OFAC sanctioned four entities based in Hong Kong, Marshall, Liberia and Greece, pursuant to EO 13902, for their involvement in the trade of Iranian petroleum and petrochemicals. The revenue generated from this trade supports Iran's nuclear program, its development and proliferation of provocative ballistic missiles, and financing of terrorist proxy groups such as Hizballah, Hamas, and the Houthis.
Concurrently, the U.S. Department of State also sanctioned four entities in the Seychelles, India, Suriname, and Hong Kong, pursuant to EO 13846, for having knowingly engaged in a significant transaction for the purchase, acquisition, sale, transport, or marketing of petroleum or petroleum products from Iran.
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