Tagged: BIS export controls

President Biden Announces Broad Coordinated Set of Sanctions and Export Controls Against Russia

The Biden Administration announced a robust set of trade sanctions and export controls against Russia in response to the Russian invasion of Ukraine.  The Treasury Department’s Office of Foreign Asset Control (“OFAC”) and the Department of Commerce’s Bureau of Industry and Security (“BIS”) issued broad sanctions and export controls respectively, designed to impose severe economic costs on Russia.  The United States, along with its Allies,...

Avnet Asia Settles Export Control Violations for Illegal Sales to China and Iran

The Justice Department recently announced a settlement with Avnet Asia for illegal shipments of sensitive U.S. commodities to China and Iran.  Under the settlement, DOJ agreed to a non-prosecution agreement (NPA) in exchange for Avnet Asia’s payment of a $1.508 million monetary penalty and continued cooperation. Avnet Asia also agreed to an administrative settlement of approximately $1.72 million to settle claims that it illegally exported...