Update on OFAC Sanctions
No sweat right, your products are EAR 99 and not controlled by DDTC so what is there to worry about? The Office of Foreign Asset Controls (OFAC) regulates the business activities of U.S. and Non-U.S. entities with very specific countries and entities, with penalties of $ 250,000 per violation or twice transactional value. OFAC covers not only trade, but facilitation activities and services, as well. This session will bring you up to date on what is happening around the world with implementation of OFAC Sanctions for countries like Russia, Iran, Syria, Sudan, Cuba and North Korea.
Presenter: George Tuttle III, Tuttle Law Offices