Opening Salvos: The Proposed Tariffs

On June 26, 2020, the U.S. Trade Representative (USTR) published a notice that it is considering new tariffs on exports such as olives, coffee, beer, gin, and trucks coming into the United States from France, Germany, Spain, and the United Kingdom.[1] The list of potential targets also includes various types of bread, pastries, cakes, and other baked products. That new list of goods may face duties of up to 100%, potentially doubling the price of certain goods [2] The announcement caused European stocks to fall, particularly for shares of beverage companies, luxury goods companies, and truck makers.
Continue Reading A Trade War on Two Fronts: U.S. Considers More Tariffs on European Goods

HERE WE ANSWER A FEW OF THE QUESTIONS THAT YOU MAY HAVE

What does decertification mean?

For the time being, decertification is a solely U.S. issue. Under the Iran nuclear agreement (known as the Joint Comprehensive Plan of Action, or JCPOA), Iran agreed to limits on its nuclear program in exchange for relief from U.S. and UN sanctions. Soon after the JCPOA was signed, the U.S. Congress passed the Iran Nuclear Agreement Review Act (INARA). That law requires the president to certify to Congress every 90 days that Iran is meeting the terms of the nuclear agreement and that continuing to waive sanctions on Iran is vital to the security interests of the United States. Today, he decertified Iran under INARA on the grounds that continuing to waive sanctions is not in the national security interests of the United States.
Continue Reading Today, President Trump Decertified the Iran Deal and Announced Tougher Sanctions on Iran

On January 16, 2016, two NFL playoff games and a historic revision of U.S. foreign policy took place. Many of us enjoyed the first two (did you see that last-second touchdown pass?!) but did not pay close attention as the United States lifted many of its secondary sanctions against Iran. Even those normally attentive to sanctions news had already heard (including by reading and excitedly discussing this blog) that things were not going to change that much for U.S. persons.
Continue Reading Airplanes, Pistachios, and a New Burger Joint in Tehran: What Changes for the United States Under Lighter Iran Sanctions

On June 5, new EU’s anti-money laundering (AML) rules, namely the Fourth EU Anti-Money Laundering Directive (“4AMLD”) and a new Regulation on the information accompanying transfer of funds were published in the Official Journal of the European Union.  Together, this legislation represents the revised EU framework on anti-money laundering and terrorist financing. Member States have until June 26, 2017 to transpose the requirements of the 4AMLD into national law. 
Continue Reading New EU Rules on Disclosure of Ultimate Beneficial Owners

On March 12, 2015, Commerzbank AG, Germany’s second largest bank and a global financial institution, agreed to pay $1.45 Billion (yes, with a “B”) in forfeitures and fines to the U.S. Government for violating U.S. sanctions against Iran and Sudan. The amount paid by Commerzbank under the settlement will not be shocking to those who read our reporting on the BNP Paribas penalty of $8.9 Billion (again, that is a “B”) for similar sanctions violations.
Continue Reading The Broader Problem: European Bank Creates an Easy Catch for the Long Arm of U.S. Jurisdiction

A red sky at morning is the traditional harbinger of ill weather. From our vantage point in Brussels, we’ve scanned the horizon for signs of the future of anti-bribery enforcement activity in Europe. We’ve identified four factors that are starting small, but may build into heavy seas.

In particular, there are signs that companies that sell to governments in Europe may be well advised to shore up compliance procedures so they can remain dry if a wave of anti-corruption sentiment breaks over the public procurement sector.


Continue Reading Shelter from the Coming Storm: Anti-Corruption Compliance in European Public Procurement

Next week will mark one year since President Obama introduced the Transatlantic Trade and Investment Partnership (TTIP) to the nation in his State of the Union Address.  Although the TTIP received only a brief nod in the President’s speech, the TTIP initiative has moved forward at a stunning pace . . . well, a stunning pace for an international trade negotiation, a process that normally crawls along.  As discussed in this blog, the U.S. and European parties to this proposed partnership set an ambitious goal of finalizing an agreement by the end of 2014.  A year into the process, we take a look at the progress to date and the challenges to come.
Continue Reading Just the TTIP: A Review of the Transatlantic Partnership Agreement One Year After It Is Introduced to America

By: Neil Ray

In light of the recent high profile disclosures of cyber surveillance, there is increased political momentum in the U.S. and EU to control the export of particular cyber technology products and services.  In the EU, the focus is on electronic surveillance equipment, and in the U.S., the concern is the proliferation of cyber weapons.
At an export control conference in Brussels this summer, a Dutch Member of the European Parliament, Marietje Schaake, who sits on the Parliament’s Committee of International Trade, called for EU regulation of “mass surveillance, mass censorship, tracking and tracing systems, as well as hacking tools and vulnerabilities that can be used to harm people”.
Continue Reading EU Targets Cyber Surveillance Exports and U.S. Considers Cyber Weapon Controls

By: Reid Whitten

On June 15, the European Union put into effect some 271 changes to its dual-use export control regulations.  The changes represent an update of the entire European export regime to incorporate numerous changes made in accordance with international agreements reached in the past few years.
Continue Reading ALERT – Changes Coming to Europe’s Dual-Use Export Regulations