Sanctions: US BIS creates retroactive review of contracts
THE USA's Bureau of Industry and Security has published a revision to the Export Administration Regulations (EAR) Part 750 - application processing, issue and denial.
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On 7 March, BIS published in the Federal Register an apparently innocuous revision to the first sentence of Paragraph 750.8.
The stated reason for the revision is that it harmonises section 750.8 with section 740.2(b) and that it promotes coordination and simplification as required by Executive Order 13563.
The revision removes the following from the first sentence of the section: "whenever it is known that the EAR have been violated or that a violation is about to occur."
But the effect is "that the United States' ability to revoke or suspend a licence is not limited to only when the EAR have been violated or a violation is about to occur but also to prevent licensed export transactions in which the United States may subsequently have an interest, including a foreign policy interest."
This, therefore, allows for the retroactive review of an export order and the suspension of a licence even though, at the time the export was made, the export was made in accordance with that licence.
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