New US Government Advisory Raises the Bar for Sanctions Compliance in relation to Ship Owners and Their Insurers

May 22, 2020 By: Saskia Rietbroek, CSS, Executive Director, ACSS With millions of dollars in potential fines in the balance, on May 15, 2020, the U.S. government released new guidance and compliance...

Three Designations and a Removal: Recent Major Companies Targeted by OFAC and Their Implications

May 15, 2020 By: Anna Sayre, CSS, Director of Content, ACSS No matter how large or influential, any company that violates sanctions runs the risk of being placed on the U.S. Treasury Office of...

Recent OFAC Settlements with Non-Financial Companies and Lessons Learned

November 4, 2019 By: Thomas Nollner* A commonly held misconception within the sanctions industry is that Office of Foreign Assets Control (OFAC) sanctions programs only apply to financial...

Lessons from the Euroturbine Case: Global Trends and Enhanced Due Diligence Essential to Safeguard Your Business

February 21, 2019 By: Jan Verloop* On February 18, 2019, Euroturbine B.V. (Euroturbine), a Dutch supplier of specialist parts for gas and steam turbines, was fined for the illicit export of...

The Zoltek Experience: Six Lessons for U.S. Companies with Foreign Subsidiaries

February 4, 2019 By: Scott Nance and George Voloshin On December 20, 2018, the Office of Foreign Assets Control (OFAC) published a penalty notice and settlement agreement with Zoltek Companies,...

Corporate Sector

Lessons from the Euroturbine Case: Global Trends and Enhanced Due Diligence Essential to Safeguard Your Business

Lessons from the Euroturbine Case: Global Trends and Enhanced Due Diligence Essential to Safeguard Your Business

February 21, 2019 By: Jan Verloop* On February 18, 2019, Euroturbine B.V. (Euroturbine), a Dutch supplier of specialist parts for gas and steam turbines, was fined for the illicit export of so-called ‘dual-use’ items with full knowledge that the...

Between a rock and a hard place: How to ensure sanction compliance when operating a facility in a sanctions-targeted country

Between a rock and a hard place: How to ensure sanction compliance when operating a facility in a sanctions-targeted country

June 13, 2017 By Simon Hirsbrunner and Alice Lauterjung The recently reported resignation of cement manufacturer LafargeHolcim’s CEO has thrown a spotlight on the risks of operating commercial activities in countries targeted by economic...

Record-breaking 1.19 Billion Fine for Chinese Tech Giant Demonstrates Broad Extraterritorial Reach of U.S. Export Control Laws

Record-breaking 1.19 Billion Fine for Chinese Tech Giant Demonstrates Broad Extraterritorial Reach of U.S. Export Control Laws

March 22, 2017 By Anna Sayre, Legal Content Writer SanctionsAlert.com On March 7, three U.S. regulators – the Department of Treasury’s Office of Foreign Assets Control (OFAC), the Department of Commerce’s Bureau of Industry and Security (BIS),...

India’s Upgrade in Export Control Status and Bid to Enter ‘Dual Use’ Controls Club Point to Expansion of Non-Proliferation Efforts

India’s Upgrade in Export Control Status and Bid to Enter ‘Dual Use’ Controls Club Point to Expansion of Non-Proliferation Efforts

February 2, 2017 By: Anna Sayre, Legal Content Writer, SanctionsAlert.com On January 19, 2017, the U.S. Department of Commerce’s Bureau of Industry and Security (BIS) amended the Export Administration Regulations (EAR) to implement a new phase...

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