top of page

Last week's major developments in sanctions - May 3rd to May 7th, 2021

Monday, May 3rd

- The U.S. Department of Stated announced a settlement with Honeywell International Inc., for alleged violations of the Arms Export Control Act (AECA) and the International Traffic in Arms Regulations (ITAR). (Here and press release)

Tuesday, May 4th - The U.S. Secretary of State reminded his German counterpart that the U.S. strongly opposes Nord Stream 2. (Here)

Wednesday, May 5th

- A U.S. court granted a motion for preliminary injunction in favor of Luokung Technology Corp.. In short, it means that some restrictions, pursuant to E.O. 13959, which would have come into effect on May 8, 2021, were suspended (at least for now). (Order)

Thursday, May 6th

- The U.S. Department of State held a briefing with the press on the ongoing U.S. engagement in Vienna regarding the JCPOA. (Here)

- Following the court order issued on May 5th in favor of Luokung Technology Corp., OFAC published an FAQ in which it clarified the restrictions against Luokung Technology Corp. will not come into place for now. (Here)

Friday, May 7th

- A federal jury convicted an Iranian citizen and a resident of the United Arab Emirates and Germany, for scheming to obtain military sensitive parts for Iran in violation of Iranian Transaction Regulations. (Here)

Recommendation of the week

- Atlantic Council published a great work on the impact of sanctions on Russia. You can check it out here: The impact of Western sanctions on Russia and how they can be made even more effective


To get your weekly alerts please click here.


bottom of page