On October 7, 2022, the United States Department of Commerce’s Bureau of Industry and Security (“BIS”) issued an Interim Advanced Computing Rule (“IACR”) targeting exports related to advanced computing integrated circuits and related commodities to the People’s Republic of China (“China”). The IACR also contains additional restrictions on semiconductor manufacturing and interactions with semiconductor manufacturing … Read more

We previously discussed the Ukraine-related sanctions measures in Australia on February 23, February 25, March 1, March 15, March 18, March 25 and 20 May. Since then, Australia has extended its sanctions to designate additional individuals and prohibit the import of gold. Read more

New UK Russia sanctions legislation was published on 28 October: the Russia (Sanctions) (EU Exit) (Amendment) (No. 15) Regulations 2022 (the “No. 15 Regulations”). These amend the UK’s principal Russia sanctions legislation: the Russia (Sanctions) (EU Exit) Regulations 2019 (the “Russia Regulations”). This briefing summarises the key amendments to the Russia Regulations, the majority of which came … Read more

Last week, the United States Department of Justice (“DOJ”) announced the sentencing of Intertech Trading Corporation (“Intertech”) on fourteen felony counts under 13 U.S.C. § 305 for failure to file export information regarding shipments of “lab equipment” to both Russia and Ukraine. The DOJ initially brought these charges against Intertech in June 2022, and Intertech … Read more

The U.S. Department of the Treasury (“Treasury”) Office of Foreign Assets Control (“OFAC”) has designated the Nicaraguan mining authority General Directorate of Mines (“DGM”), as well as Reinaldo Gregorio Lenin Cerna Juarez, an official of the Government of Nicaragua, pursuant to Executive Order (“E.O.”) 13851. DGM is being designated for being owned or controlled by … Read more

On October 19, 2022, the United States Department of Justice (“DOJ”) unsealed an indictment (the “Indictment”) charging five Russian nationals and two Venezuelan oil traders with various charges related to a complex scheme to evade U.S. sanctions directed at both Russia and Venezuela. Among other things, the Indictment alleges that Yury Orekhov (“Orekhov”), the CEO … Read more

On October 7, 2022, the Department of Commerce’s Bureau of Industry and Security (“BIS”) took two significant actions with major implications for companies and persons dealing with the Chinese semiconductor and electronics sectors: BIS issued an interim final rule (the “IFR”) targeting exports to the People’s Republic of China that, among other things, imposes sweeping … Read more

Illustrating the trend of coordinated sanctions actions taken by the Treasury and Commerce Departments, last week the Office of Foreign Assets Control (“OFAC”) worked in tandem with the Commerce Department Bureau of Industry and Security to publish an Alert entitled, “OFAC-BIS Alert: Impact of Sanctions and Export Controls on Russia’s Military-Industrial Complex,” which discusses the … Read more