We use cookies to customise content for your subscription and for analytics.
If you continue to browse Lexology, we will assume that you are happy to receive all our cookies. For further information please read our Cookie Policy.
Lexology logo






  Request new password

Search results

Order by most recent / most popular / relevance

Results: 1-7 of 7

Sanctions clauses - safeguarding payment under letters of credit

  • Reed Smith LLP
  • -
  • Hong Kong
  • -
  • January 11 2012

The documentary letter of credit ("LC") is a key payment method in international trade - not only does it satisfy both the seller's and the buyer's conflicting needs, but it also is considered to be relatively risk free

Economic sanctions or export controls and foreign companies: what to do when the U.S. Congress comes knocking

  • Reed Smith LLP
  • -
  • USA
  • -
  • February 17 2009

When a foreign company seeks to enter the U.S. market, is already doing business in the United States, or employs U.S. persons, it needs to consider how U.S. economic sanctions may impact the business

Enforcement highlights: October 16, 2008 January 5, 2009

  • Reed Smith LLP
  • -
  • USA
  • -
  • February 17 2009

On Oct. 20, 2008, Department of Commerce, Bureau of Industry and Security (“BIS”) entered a settlement agreement with American Rice, Inc. (“ARI”), pursuant to which ARI agreed to pay a $30,000 civil penalty to settle allegations that ARI violated the anti-boycott provisions of the Export Administration Regulations (“EAR”) between 2002 and 2006 by failing to report to the Department of Commerce receipt of requests to engage in a restrictive trade practice or boycott, as required by the EAR, in connection with the sale or transfer of goods to the United Arab Emirates

Enforcement highlights

  • Reed Smith LLP
  • -
  • USA
  • -
  • May 29 2008

On Feb. 21, 2008, Flowserve Corporation (“Flowserve”) agreed to pay a $4 million penalty as part of a settlement agreement regarding criminal charges that its subsidiary, Flowserve Pompes SAS, engaged in conspiracy to commit wire fraud and to violate the books and records provisions of the FCPA when employees and agents paid kickbacks to the Iraqi government in order to obtain contracts for the sale of large-scale water pumps and spare parts for use in Iraqi oil refineries in violation of the United Nations (“U.N.”) Oil for Food Program

Increased penalties for export control violations

  • Reed Smith LLP
  • -
  • USA
  • -
  • December 4 2007

On Oct. 16, 2007, President George W. Bush signed into law the International Emergency Economic Powers Enhancement Act (“Act”), S.R. 1612, to increase the deterrent of export controls violations

Sanctions update: Libya and Syria

  • Reed Smith LLP
  • -
  • Libya, USA
  • -
  • September 6 2011

This is an update on sanctions imposed against Libya and Syria

Iran and Syria: recent sanctions update

  • Reed Smith LLP
  • -
  • European Union, Iran, Syria
  • -
  • October 22 2012

Last week the European Union (“EU”) introduced further restrictive measures against Iran in light of Iran’s failure to engage in negotiations to address deepening international concerns over the nature of its nuclear programme

Current Search

Suggested Facets

Author

Jurisdiction

© Copyright 2006-2013 Globe Business Publishing Ltd | Cookies | Disclaimer | Privacy policy