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Commerce’s Bureau of Industry and Security (BIS) published its first quarterly update of the boycott Requester List. This list notifies companies, financial institutions, freight forwarders, …
After 20 years of lackluster results building commercial vessels for Jones Act trade, Norwegian investment group Aker ASA is selling its Philadelphia shipbuilding operations to Korea's Hanwa Group for $100 million.
Philly Shipyard supplies around 50% of the largest U.S. commercial vessels, including tankers and container ships. In addition, Philly Shipyard constructs training vessels for the U.S. Maritime Administration (MARAD).
PetroChina International America Inc. (PCIA) has entered into an agreement to pay a fine and monetary forfeiture totaling $14.5 million for violations of U.S. export law, including …
Treasury's Office of Foreign Assets Control (OFAC) today announced a $538,000 settlement with Mondo TV, S.p.a. an Italian animation company for 18 apparent violations of the North Korea Sanctions Regulations.
Between May 2019 and November 2021, Mondo remitted approximately $537,939 to a Government of North Korea-owned studio in payment for outsourced animation work. In doing so, Mondo caused U.S. financial institutions to process wire transfers that contained the blocked property interests of the Government of North Korea and to export financial services to North Korea.
Deputy Attorney General Lisa Monaco traveled to Brussels last week to lead the U.S. delegation at the U.S.-EU Justice and Home Affairs Ministerial.
Treasury’s Office of Foreign Assets Control (OFAC) Tuesday sanctioned nearly 50 entities and individuals that constitute multiple branches of a sprawling “shadow banking” network used by Iran’s Ministry of Defense and Armed Forces Logistics (MODAFL) and Islamic Revolutionary Guard Corps (IRGC)
The entities, including cover companies based in Hong Kong, the United Arab Emirates (UAE), and the Marshall Islands have been used to gain illicit access to the international financial system and process the equivalent of billions of dollars since 2020.
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