OFAC Targets Corruption in Guatemala Mining Sector, Sanctions Russian Company

The U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) has sanctioned Dmitry Kudryakov, a Russian national, and Iryna Litviniuk, a Belarusian national, for their role in the Guatemalan mining sector, as well as three associated entities—Compania Guatemalteca de Niquel (“CGN”), Compania Procesadora de Niquel (“ProNiCo”), and Mayaniquel—connected with certain corruption schemes. CNG, … Read more

BIS Releases FAQs on the Interim Advanced Computing Rule Regarding Advanced Computing and Semiconductor Manufacturing Items

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

Sanctions tracker: UK introduces new Russia lending and trade restrictions

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

U.S. Equipment Distributor Pays $140,000 on 14 Felony Counts of Failure to File Export Information

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

US Sanctions Nicaragua Directorate of Mines

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

DOJ Charges Russian and Venezuelan Nationals in Alleged Global Sanctions Evasion and Money Laundering Scheme

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

BIS Implements Sweeping New Export Controls Targeting China

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

OFAC, BIS Release New Russia Sanctions and Export Control Alert

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