News
Print PDF

Practice Areas

Export and Sanctions Penalties Increased

Wednesday, June 19, 2019
Sandler, Travis & Rosenberg Trade Report

The Office of Foreign Assets Control has issued a final rule adjusting its maximum civil monetary penalties for inflation, as follows, effective June 14.

- $1,503,470 (up from $1,466,485) for violations of the Foreign Narcotics Kingpin Designation Act and the Foreign Narcotics Kingpin Sanctions Regulations

- the greater of $302,584 (up from $295,141) or twice the amount of the underlying transaction for violations of the International Emergency Economic Powers Act and the Iranian Assets Control Regulations, the Narcotics Trafficking Sanctions Regulations, the Weapons of Mass Destruction Trade Control Regulations, the Zimbabwe Sanctions Regulations, the Syrian Sanctions Regulations, the Cote d’Ivoire Sanctions Regulations, the Weapons of Mass Destruction Proliferators Sanctions Regulations, the Darfur Sanctions Regulations, the Democratic Republic of the Congo Sanctions Regulations, the Belarus Sanctions Regulations, the Lebanon Sanctions Regulations, the Iranian Transactions and Sanctions Regulations, the Iranian Financial Sanctions Regulations, the Hizballah Financial Sanctions Regulations, the Iraq Stabilization and Insurgency Sanctions Regulations, the Global Magnitsky Sanctions Regulations, the Magnitsky Act Sanctions Regulations, the Western Balkans Stabilization Regulations, the Global Terrorism Sanctions Regulations, the Terrorism Sanctions Regulations, and the North Korea Sanctions Regulations

- $89,170 (up from $86,976) per violation on any person who violates any license, order, or regulation issued under the Trading with the Enemy Act

- the greater of $79,874 (up from $77,909) or twice the amount of which a financial institution was required to retain possession or control for violations of the Foreign Terrorist Organizations Sanctions Regulations

- $13,669 (up from $13,333) for violations of the Clean Diamond Trade Act and the Rough Diamonds Control Regulations

To get news like this in your inbox daily, subscribe to the Sandler, Travis & Rosenberg Trade Report.

Customs & International Headlines