On Thursday, March 24, 2016, the US Commerce Department’s Bureau of Industry and Security (“BIS”) is scheduled to publish a temporary general license in the Federal Register relating to Zhongxing Telecommunications Equipment Corporation (“ZTE Corporation”) and ZTE Kangxun Telecommunications Ltd. (“ZTE Kangxun”). As detailed in a previous post, BIS added these two companies and two affiliated entities (Beijing 8-Star and ZTE Parsian) to the Export Administration Regulations’ (“EAR”) Entity List on March 8, 2016.
On March 18, 2016, Canada further expanded its sanctions against Russia and Ukraine, adding 2 individuals and 10 entities to the list of designated persons under Schedule 1 of the Special Economic Measures (Russia) Regulations (the “Russia Regulations”). Canada also added 3 individuals and 4 entities to the list of designated persons under the schedule to the Special Economic Measures (Ukraine) Regulations (the “Ukraine Regulations”). An unofficial copy of the regulations amending the Russia Regulations…
On 16 March 2016, President Barack Obama issued a new Executive Order (the “Order”) imposing additional sanctions on the Democratic People’s Republic of Korea (“North Korea”). As a result of these new sanctions, US Persons (defined below) are prohibited from engaging in virtually all transactions with North Korea. Additionally, pursuant to the Order, the US Treasury Department’s Office of Foreign Assets Control (“OFAC”) announced that it had designated 2 individuals, 15 entities, and 20 vessels as Specially Designated Nationals (“SDNs”). OFAC also issued nine general licenses for certain activities involving North Korea and published frequently asked questions (“FAQs”) pertaining to the Order and general licenses.
On March 15, 2016, the US Treasury Department’s Office of Foreign Assets Control (“OFAC”) and the US Commerce Department’s Bureau of Industry and Security (“BIS”) announced further amendments (the “Amendments”) to the Cuban Assets Control Regulations (“CACR”) and the Export Administration Regulations (“EAR”), in a continuing effort to implement elements of the policy announced by President Obama on December 17, 2014 and to chip away at the decades-old embargo. The Amendments have been issued in anticipation of President Obama’s inaugural visit to Cuba next week and follow several earlier rounds of relaxation, including those made on January 15, 2015, September 18, 2015, and January 26, 2016. The Amendments went into effect on March 16, 2016.