On 7 October 2022, the US Commerce Department’s Bureau of Industry and Security issued the much anticipated rules aimed at restricting China’s ability to obtain advanced computing chips, develop and maintain supercomputers, and manufacture advanced semiconductors. In addition to formalizing the licensing requirements included in the recent BIS “is informed” letters issued to certain US companies on related matters, the Rule imposes a wide range of new and enhanced restrictions targeting China’s advanced computing and semiconductor sectors.

On 23 September 2022, the US Department of the Treasury’s Office of Foreign Assets Controls (OFAC) issued Iran General License D-2 (GL D-2), which amends and replaces the former Iran General License D-1 (GL D-1), and published three related Frequently Asked Questions (FAQs). GL D-2 authorizes a more expansive set of internet communication-related activities, including cloud-based software and services, that are otherwise prohibited under the Iranian Transactions and Sanctions Regulations. According to the accompanying press release, GL D-2 aims to support internet freedom in Iran by updating US sanctions guidance in light of changes in communications technology since the issuance of GL D-1 in 2014 and to respond to the Iranian government’s efforts to suppress internet access following recent anti-government movement in Iran.

Baker McKenzie’s Sanctions Blog published the alert titled OFAC Issues Preliminary Guidance on the Implementation of a Maritime Services Policy Ban and Related Price Exception for Seaborne Russian Oil on 20 September 2022. Read the article via the link here. Please also visit our Sanctions Blog for the most recent updates.

Baker McKenzie’s Sanctions Blog published the alert titled BIS issues new FAQs addressing red flags related to Russia/Belarus and semiconductor foundries’ potential entity list dealings on 1 September 2022. Read the article via the link here. Please also visit our Sanctions Blog for the most recent updates.

The Annual Compliance Conference begins next week and attracts over 6,000 in-house senior legal and compliance professionals from across the world. This leading compliance conference will be held across five weeks from 6 September – 6 October 2022. We will be virtually delivering our cutting-edge insights and guidance on key global compliance, investigations and ethics issues. Our global experts will provide practical insights and analysis on significant developments:
• anti-bribery
• corruption and economic crime
• customs and FTAs
• ESG, supply chain and product compliance
• antitrust and competition
• export controls, sanctions and foreign investment

Click here to view the full agenda and register your interest in joining us virtually at this must attend global compliance conference for senior in-house legal and compliance professionals.

Following initial announcements last year, on 20 July 2022 the US Department of State’s Directorate of Defense Trade Controls (DDTC) published two Open General Licenses (OGLs) permitting certain reexports and retransfers to certain parties under the International Trade in Arms Regulations. The OGLs, which are part of a DDTC pilot program, will be valid for one year, effective from 1 August 2022 through 31 July 2023.

The Uyghur Forced Labor Prevention Act took effect on June 21, 2022, and establishes a rebuttable presumption that all goods mined, produced, or manufactured wholly or in part in Xinjiang, China, or by entities identified on the “UFLPA Entity List,” are made with forced labor and prohibits them from entry into the United States under Section 307 of the Tariff Act of 1930.

Annual Compliance Conference

Our popular Annual Compliance Conference, which attracts over 6,000 in-house senior legal and compliance professionals from across the world, will be held across five weeks from 6 September – 6 October 2022. We will be virtually delivering our cutting-edge insights and guidance on key global compliance, investigations and ethics issues. Our global experts will provide practical insights and analysis on significant developments across:
– anti-bribery
– corruption and economic crime
– customs and FTAs
– ESG, supply chain and product compliance
– antitrust and competition
– export controls, sanctions and foreign investment

Click https://www.bakermckenzie.com/en/insight/events/2022/10/annual-compliance-conference to register your interest in joining us virtually at this must attend global compliance conference for senior in-house legal and compliance professionals.

On June 13, 2022, US Customs and Border Protection issued the long-awaited Uyghur Forced Labor Prevention Act Operational Guidance for Importers. The UFLPA requires CBP to apply a presumption that imports of all merchandise mined, produced, or manufactured wholly or in part in Xinjiang, China, or by entities identified on the “UFLPA Entity List,” are presumed to be made with forced labor and are prohibited from entry into the United States under Section 307 of the Tariff Act of 1930.

Baker McKenzie’s Sanctions Blog published the alert titled OFAC Issues New FAQs on Export Ban on Certain Services on 14 June 2022. Read the article via the link here. Please also visit our Sanctions Blog for the most recent updates.