In the final weeks of December, President Obama amended sanctions to both the Iran and Russia programs. These changes further relaxed sanctions on Iran while they tightened sanctions on Russia (see our client advisory). Yet, just three days from the inauguration of President-elect Donald Trump, exporters are no doubt wondering what the new president will do with regard to these changes and other sanctions relief that has come to pass under the Obama administration. (more…)
The U.S. government, and we mean the pre-Trump administration at that, has blocked an acquisition of a foreign company by another foreign company. The concern is that the target company has a U.S. presence and has access to high-end technology that is controlled by the International Trafficking in Arms Regulations (ITAR). If you are not aware of the Committee on Foreign Investment in the United States (CFIUS) now is a good time to ensure you at least know when to look it up. (more…)
The Department of State and the Department of Commerce have revised several provisions of the International Traffic in Arms Regulations (ITAR) and the Export Administration Regulations (EAR). Many of the changes are part of an ongoing effort to increase consistency between the terms used in the ITAR and the EAR.
The State and Commerce Departments have revised the standardized language for the destination control statement (DCS) that exporters are required to put on their shipping documents. Further, now exporters are only required to put the language on the commercial invoice. Gone is the requirement that exporters and freight forwarders take steps to include the statements on bills of lading, air waybills, and other shipping documents. The hope is to ease the burden on exporters and make the standard the same under both the State Department’s International Traffic in Arms Regulations (ITAR) and the Export Administration Regulations (EAR). (more…)