Scott Wise

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Export Compliance Obligations for Transactions between U.S. Companies and India to be Reduced

In the near future, trade between the U.S. and India will likely be simplified.  Late last week, the Wassenaar Arrangement admitted India as a member (India’s membership will be formalized shortly), and the Australia Group is expected to admit India in the coming months.  Both organizations are Multilateral Export Control Regimes that inform U.S. export … Continue Reading

Congress Proposes Increased Scrutiny on Foreign Investments in the U.S.

A bipartisan group of co-sponsors in both the House and the Senate recently introduced the Foreign Investment Risk Review Modernization Act (“FIRRMA”).  These substantively identical bills demonstrate that Congress is now considering increasing the scrutiny of foreign investment in the U.S., particularly from China. The Committee on Foreign Investment in the United States (“CFIUS”) is … Continue Reading

New Sanctions Placed on Trade with Cuba

On Thursday November 9th,  the Office of Foreign Assets Control (“OFAC”) published new regulations in the Federal Register executing June’s National Security Presidential Memorandum (“NSPM”) regarding U.S. sanctions against Cuba.  (See our previous post on the NSPM here).  The State Department and Bureau of Industry and Security (“BIS”) also published complementary rules giving effect to the … Continue Reading

Trump Administration Threatens Unilateral Sanctions Against North Korea’s Trading Partners

Treasury Secretary Mnuchin announced Wednesday that the Trump Administration was considering sanctioning any country that continues trade with North Korea if the United Nations does not approve additional sanctions against the country.  At an emergency UN meeting in the wake of an additional North Korean nuclear test over the weekend, the U.S. proposed stricter sanctions towards the … Continue Reading

Trump Issues New Cuba Restrictions

Late last week, President Trump issued a directive that would purportedly “cancel” the recent changes in the Cuban Assets Control Regulations made under President Obama’s administration.  This announcement caused confusion in the business community, which had relied on the Obama administration’s changes to begin commercial engagement in Cuba.  Even though the directive actually leaves many … Continue Reading

Appeals Court Says That Actual Arrival In Iran Is Not Necessary For OFAC To Find Violation

On May 26, the U.S. Court of Appeals for the DC Circuit remanded for further consideration OFAC’s imposition of a $4 million penalty against Epsilon Electronics for 39 shipments found to violate the Iranian Transactions and Sanctions Regulations (“ITSR”).  According to the DC Circuit, OFAC failed to meet its burden to justify its finding of … Continue Reading
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