EU-US: Export Controls and Sanctions Update – May 2018

    View Authors May 2018

    This publication from our International Trade Practice looks at the shifting regulatory framework for international trade and compliance on both sides of the Atlantic.

    In this issue, we cover:

    EU

    • EU Extends Sanctions Enacted in Respect of the Situation in Ukraine
    • EU Amends Sanctions Against North Korea
    • The European Commission Decides to Retaliate Against the US 232 Tariffs on Steel and Aluminium
    • The European Commission Undertakes Measures to Minimise Negative Effects of the US Sanctions Against Iran on EU Businesses

    UK

    • The Sanctions and Anti-Money Laundering Act Receives Royal Assent
    • Introduction of New Form for Reporting Suspected Financial Sanctions Breaches
    • Four Amended Open General Export Licences Exclude Burma

    US

    • President Trump Ceases US Participation in the JCPOA
    • OFAC Issues Updated Ukraine-/Russia-related General Licenses
    • Issuance of Venezuela-related Executive Order
    • Kingpin Act Designations
    • BIS and DDTC Issue Companion Proposed Rules for Reforming Export Controls on Firearms and Ammunition

    Upcoming Events

    • US Export Controls Workshop – “The ITAR ‘Virus’ Continues to EARvolve!” – Stratford-Upon-Avon, UK, 23-25 July 2018

    We encourage you to visit our blog The Trade Practitioner, where you will find further updates on export controls, sanctions and other international trade topics. In addition, organisations engaged in the trade of items specially designed for military or space applications are encouraged to download our complimentary ITAR Practitioner’s Handbook covering the International Traffic in Arms Regulations (ITAR) and the US Department of Commerce “600 Series”.

    Please contact a member of our Export Controls and Sanctions team with any questions, or email InternationalTradeCompliance@squirepb.com for assistance.