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Iran, North Korea, Russia, and Venezuela in the Crosshairs: What Your Company Needs to Know About the New U.S. Sanctions

International Trade Law CLE

Iran, North Korea, Russia, and Venezuela in the Crosshairs: What Your Company Needs to Know About the New U.S. Sanctions

Live Webcast Date: Tuesday, January 30, 2018 at 12:30 pm - 2:00 pm (ET)
International Trade LawRecording

On August 2, 2017, President Donald Trump signed into law the Countering America’s Adversaries Through Sanctions Act (CAATSA). The new law, which is viewed to have profound impacts on anti-corruption compliance and global supply chains, provides for additional sanctions on Iran, Russia, and North Korea. 

The U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) also recently intensified sanctions against Venezuela by prohibiting certain transactions and financing related to the Venezuelan government and state-owned oil and natural gas company Petroleos de Venezuela, S.A. and by blocking the property of, and prohibiting transactions with, Venezuelan government officials.

Listen as a panel of distinguished sanctions professionals organized by The Knowledge Group provide the audience with the latest and emerging issues about the new U.S. sanctions on Iran, North Korea, Russia, and Venezuela. Speakers, among other things, will analyze the most important provisions in CAATSA, and its direct impact on affected firms and companies. Speakers will also offer effective compliance strategies for related businesses.

This webcast will discuss the following key topics:

  • New and Additional Iran, North Korean, Russian, and Venezuelan Sanctions
  • The CAATSA
    • Overview
    • Important Provisions
  • Impacts and Implications of the New Sanctions on Related Businesses
  • New Compliance Requirements
  • Best Practices

Who Should Attend

  • Corporate Counsel
  • Multinational Companies (Public and Private)
  • Export Controls Vice Presidents, Directors and Managers
  • Trade Compliance Administrators and Managers
  • International Trade Specialists
  • Regulatory and Policy Managers
  • Compliance and Risk Managers
  • Other Related/Interested Professionals

Faculty

Jennifer M. Smith

Jennifer M. Smith
Partner
Law Offices of Stewart and Stewart

Raj Bhala

Raj Bhala
Brenneisen Distinguished Professor
The University of Kansas, School of Law

"On Point" Monthly Columnist
BloombergQuint (India)

Senior Advisor

Dentons U.S. LLP

Nikolay Anguelov

Nikolay Anguelov
Assistant Professor, Department of Public Policy
University of Massachusetts, Dartmouth

Click Here to Read Additional Material

SEGMENT 1:
Jennifer M. Smith, Partner
Law Offices of Stewart and Stewart

  • OFAC in recent years has invented new types of sanctions, including sectoral sanctions (which prohibit certain transactions with certain businesses in certain industries but fall short of typical blocking sanctions) and secondary sanctions (which apply to certain activity that does not require a U.S. nexus).
  • OFAC has applied one or more of such new types of sanctions with respect to Iran, North Korea, Russia, and Venezuela.
  • The Countering America’s Adversaries Through Sanctions Act (“CAATSA”) imposes additional sanctions against Iran, North Korea, and Russia and now requires certain secondary sanctions relating to Russia.
  • OFAC often broadly construes its legal authorities, sometimes in ways that are not intuitive, which can make compliance difficult.
  • Compliance requires careful screening and analysis of all transactions, adequate training, audits, and constant diligence, among other things, by U.S. companies and organizations and their subsidiaries.

 

SEGMENT 2:
Raj Bhala,

Brenneisen Distinguished Professor
The University of Kansas, School of Law

Senior Advisor
Dentons U.S. LLP

"On Point" Monthly Columnist
BloombergQuint (India)

Essential Background:

(1)    Brief overview of U.S.-Iran relations, including 1973 and 1979 Arab Oil Embargoes

(2)    1978-79 Islamic Revolution

(3)    November 4, 1979 and the next 444 days — The Hostage Crisis

(4)    The 1989 Salman Rushdie Fatwa

(5)    Context of Sunni-Shi'ite Split and Iran's "Revolutionary" Constitution

Sanctions Periods:

(1)    1986 Iran and Libya Sanctions Act (ILSA)

(2)    Modifications and Adjustments to ILSA

(3)    New, tougher Sanctions under 2010 Comprehensive Iran Sanctions, Accountability, and Disinvestment Act (CISADA)

(4)    Targeting Human Rights Abusers

(5)    Iran's Economy "wrecked"

The Nuclear Deal (July 2015 JCPOA):

(1)    Uranium Enrichment and Centerfuges

(2)    Plutonium and Heavy Water

(3)    Possible Military Dimension (PMD) Sites

(4)    Dispute Resolution Mechanism

(5)    Ballistic missiles not covered (and Iran's explanation why)

The View from Israel:

(1)    Prior good relations in Shah's Era

(2)    Hezbollah and Lebanon

(3)    Proxy War in Syria

(4)    Relations with Saudi Arabia:

        Is the Enemy (Saudi Arabia) of my Enemy (Iran) my Friend (Saudi Arabia),

        or still my Enemy (Saudi Arabia)?

(5)    Palestinian Question now is a low priority item — number 3 after Iran/Hezbollah/Lebanon and Hamas/Gaza.

What's Next for Iran (and U.S. Businesses)?:

(1)    From the 2009 Green Revolution to today's uprisings

(2)    Revolutionary Guards and State Owned Enterprises

(3)    Regime change?

(4)    Legal risk + Political Risk, and War Risk = Great Uncertainty

 

SEGMENT 3:
Nikolay Anguelov, Assistant Professor, Department of Public Policy
University of Massachusetts, Dartmouth

  1. North Korean economic growth despite tightening sanctions
  2. Export intermediaries and how they help sanction evasion
  3. Main North Korean exports and their growing global importance
  4. North-South Korean economics
  5. Chinese and Russian trade support for North Korean
Jennifer M. Smith

Jennifer M. SmithPartnerLaw Offices of Stewart and Stewart

Jennifer M. Smith is a partner of the Law Offices of Stewart and Stewart and a 2008 graduate of Georgetown University Law Center.  She has experience in a variety of international trade law matters, including economic sanctions and embargoes, export controls, antidumping and countervailing duty proceedings, customs, anti-boycott, trade adjustment assistance, and international and bilateral trade agreements and dispute resolution processes.

Ms. Smith has represented clients before numerous agencies, including the Department of the Treasury, Department of Commerce, International Trade Commission, Department of State, Customs and Border Protection, the Office of the U.S. Trade Representative, and the Department of Labor.  She also assists clients in performing import and export compliance reviews and due diligence reviews for mergers and acquisitions transactions.  Ms. Smith has clerked at the United States Court of International Trade.

Raj Bhala

Raj BhalaBrenneisen Distinguished Professor
The University of Kansas, School of Law

"On Point" Monthly Columnist
BloombergQuint (India)

Senior Advisor
Dentons U.S. LLP

Raj is the Brenneisen Distinguished Professor at the University of Kansas School of Law. He is Senior Advisor to Dentons U.S. LLP. Raj practiced at the Federal Reserve Bank of New York, where he twice won the President’s Award for Excellence, thanks to his service at UNCITRAL. A Harvard Law School graduate, he completed Masters degrees at LSE and Oxford as a Marshall Scholar, and an undergraduate degree at Duke as an Angier B. Duke Scholar. Raj is author of one of the world’s leading textbooks in international trade law, and the first treatise on GATT in nearly 50 years. He is the first non-Muslim American scholar to write a textbook on Islamic Law. His newest book is on TPP. “On Point” is his monthly column, which BloombergQuint (India) publishes (www.bloombergquint.com). Please visit https://en.wikipedia.org/wiki/Raj_Bhala.

Nikolay Anguelov

Nikolay AnguelovAssistant Professor, Department of Public PolicyUniversity of Massachusetts, Dartmouth

Dr. Nikolay Anguelov is Assistant Professor in the department of Public Policy at the University of Massachusetts, Dartmouth. He has a Ph.D. in Policy Studies, Regional Economic Development concentration, an MPA and a MS in Applied Economics and Statistics from Clemson University. His research is interdisciplinary with a focus on international trade and diplomacy. Dr. Anguelov is the author of The Dirty Side of the Garment Industry: Fast Fashion and Its Negative Impacts on Environment and Society (CRC Press), Policy and Political Theory in Trade Practice: Multinational Corporations and Global Governments (Palgrave Macmillan), and Economic Sanctions vs. Soft Power: Lessons from North Korea, Myanmar and the Middle East (Springer).

Course Level:
   Intermediate

Advance Preparation:
   Print and review course materials

Method Of Presentation:
   On-demand Webcast

Prerequisite:
   Experience in international trade and sanctions laws

Course Code:
   146869

NY Category of CLE Credit:
   Areas of Professional Practice

Total Credits:
   1.5 CLE

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About the Knowledge Group

The Knowledge Group

The Knowledge Group has been a leading global provider of Continuing Education (CLE, CPE) for over 13 Years. We produce over 450 LIVE webcasts annually and have a catalog of over 4,000 on-demand courses.

About the Knowledge Group

The Knowledge Group

The Knowledge Group has been a leading global provider of Continuing Education (CLE, CPE) for over 13 Years. We produce over 450 LIVE webcasts annually and have a catalog of over 4,000 on-demand courses.

For more than 50 years, Stewart and Stewart has helped companies, farmers, and workers maximize their opportunities in the complex and rapidly changing world of international trade.  Our practice areas include trade remedies (antidumping, countervailing duty, safeguard cases), customs, import/export controls, economic sanctions and compliance, preferential market access, bilateral and regional agreements, and the World Trade Organization.  The firm has also worked with Congress and the Executive Branch on a wide range of matters, ranging from international trade and competitiveness issues to intellectual property, health care, and federal grants.  Whether representation is limited to a specific matter or requires strategic use of a broad range of legal and policy tools, Stewart and Stewart’s team of professionals is committed to helping its clients compete at home and around the world.

Website: http://www.stewartlaw.com/

Raj Bhala is Senior Advisor at Dentons, the world’s largest law firm, with 136 offices in 57 countries.

Website: https://www.dentons.com/en

University of Massachusetts—Dartmouth is a public institution founded in 1895. It is a tier 1 research university, located about 60 miles south of Boston and 29 miles east of Providence, RI, that offers more than 50 fields of undergraduate study and more than 35 master's degree programs, including those in the Charlton College of Business, the College of Engineering and the College of Nursing, University of Massachusetts School of Law, and the School for Marine Science and Technology. The university, often called UMass Dartmouth, also offers a ranked fine arts program in its College of Visual and Performing Arts.

Website: https://www.umassd.edu/

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