On Thursday, April 18, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) announced new sanctions on Iran following its April 13, 2024 attack on Israel. OFAC designated 16 individuals and ten entities as Specially Designated Nationals and Blocked Persons (SDN), specifically those involved in Iran’s unmanned aerial vehicle (UAV), steel, and automobile industries. In coordination with OFAC, the UK ‘s Office of Financial Sanctions Implementation (OFSI) has also announced that it is introducing sanctions on Iran.

In a separate announcement, the U.S. Commerce Department’s Bureau of Industry and Security (BIS) announced new changes to the Export Administration Regulations (EAR) which further restrict Iran’s access to “low-level technology” and expand the scope of items which require a license for export or re-export to Iran. The new restrictions build on Commerce’s February 2023 action targeting Iran’s involvement in supplying drones to support Russia’s invasion of Ukraine, and impose further restrictions on items that are reexported or exported from abroad to Iran, Russia, Belarus, or the Temporarily Occupied Crimea region of Ukraine and covered regions of Ukraine, which now constitutes all items identified in BIS’s “Common High Priority List.”

Print:
Email this postTweet this postLike this postShare this post on LinkedIn
Photo of Dmitry Bergoltsev Dmitry Bergoltsev

Dmitry Bergoltsev is a senior international trade analyst in Crowell & Moring’s Washington, D.C. office. He provides practice support to the International Trade Group on import regulatory matters pending before the Office of the U.S. Trade Representative (USTR) and U.S. Customs and Border

Dmitry Bergoltsev is a senior international trade analyst in Crowell & Moring’s Washington, D.C. office. He provides practice support to the International Trade Group on import regulatory matters pending before the Office of the U.S. Trade Representative (USTR) and U.S. Customs and Border Protection (CBP). He works closely with attorneys developing courses of action for clients impacted by investigations under Section 301 of the Trade Act of 1974 and Section 232 of the Trade Expansion Act of 1962. He also supports unfair trade investigations, including antidumping (AD) and countervailing duty (CVD) investigations, sunset reviews, and changed circumstance reviews before the Department of Commerce and the International Trade Commission (ITC).

Photo of Jeremy Iloulian Jeremy Iloulian

Jeremy Iloulian is an associate in Crowell & Moring’s Chicago office and is a member of the International Trade Group. Jeremy advises clients globally on complex cross-border investigative, regulatory, compliance, and transactional matters and policy developments that touch U.S. national security, international trade…

Jeremy Iloulian is an associate in Crowell & Moring’s Chicago office and is a member of the International Trade Group. Jeremy advises clients globally on complex cross-border investigative, regulatory, compliance, and transactional matters and policy developments that touch U.S. national security, international trade, and foreign investment, including those relating to U.S. export controls, economic sanctions, anti-boycott laws, and the Committee on Foreign Investment in the United States (CFIUS).