The U.S charged seven Indian businessmen with conspiring to violate the Foreign Corrupt Practices Act by paying bribes to Indian government officials to receive "lucrative solar energy supply contracts with the Indian government," the U.S. Attorney's Office for the Eastern District of New York announced. The indictment, unsealed Nov. 20, also outlines various securities and wire fraud charges against the businessmen and names Gautam Adani, one of the world's richest people, as a defendant.
Jacob Kopnick
Jacob Kopnick, Associate Editor, is a reporter for Trade Law Daily and its sister publications Export Compliance Daily and International Trade Today. He joined the Warren Communications News team in early 2021 covering a wide range of topics including trade-related court cases and export issues in Europe and Asia. Jacob's background is in trade policy, having spent time with both CSIS and USTR researching international trade and its complexities. Jacob is a graduate of the University of Michigan with a B.A. in Public Policy.
The U.K. added eight people to its global anti-corruption sanctions regime on Nov. 21, including Isabel Dos Santos, an Azerbaijani national, for misappropriating millions of dollars while acting as head of an Angolan state oil firm and director of an Angolan telecommunications company. Angolan national Paula Cristina Oliveira was sanctioned for her role in Dos Santos' scheme, as was Portuguese national Sarju Raikundalia.
The World Trade Organization's published agenda for the Dispute Settlement Body's Nov. 25 meeting includes a request from the EU to suspend certain concessions to the U.S. due to its antidumping and countervailing duties on ripe olives from Spain.
The former CEO of 500.com, which now operates as crypto mining company BIT Mining Ltd., was charged with violating the Foreign Corrupt Practices Act by paying bribes to Japanese government officials, DOJ announced. In addition, BIT Mining agreed to settle DOJ and SEC investigations into its FCPA violations, entering into a three-year deferred prosecution agreement with DOJ.
Chinese lidar company Hesai Technology filed an amended complaint in its suit against its designation as a Chinese military company after the Pentagon relisted the company (see 2410230018), arguing that the decision is "just as unsubstantiated and weak as the original one that they recently refused to defend" (Hesai Technology Co. v. Department of Defense, D.D.C. # 24-01381).
A new U.K. general license released this week authorizes certain payments involving sanctioned Iranian airline Iran Air. The license, effective Nov. 18, allows payments that are required to "exercise Iran's right" to "overfly the United Kingdom" or "make a Stop for Non-Traffic purposes in the United Kingdom" in line with the Convention on International Civil Aviation and its Annexes. The license also allows for payments from Iran Air for "contractual obligations that arose prior to Iran Air's designation in respect of ground services or airport services in the UK," including ticket refunds from canceled flights to or from the U.K., as long as no payments are made to another sanctioned party.
The EU expanded the scope of its sanctions framework on Russia to cover vessels and ports used to transfer Iranian-made unmanned aerial vehicles, missiles and related components for use in the war in Ukraine, the Council of the EU announced Nov. 18. The move bars the "export, transfer, supply, or sale from the EU to Iran of components used in the development and production of missiles and UAVs," the council said, and a ban on transactions with ports and locks that are owned or controlled by sanctioned parties or used to transfer Iranian UAVs, missiles or component parts to Russia.
A Venezuelan national was sentenced Nov. 14 to 30 months in prison for his role in a scheme to evade U.S. sanctions on Petroleos de Venezuela, a Venezuelan state-owned oil company, DOJ announced.
The EU asked the World Trade Organization to establish a compliance panel regarding Colombia's tariffs on frozen fries from the EU, the Directorate-General for Trade announced Nov. 14. The bloc decided to make the move after consultations between the parties fell through, the Directorate-General said.
The U.K. extended antidumping duties on steel ropes and cables from China, including on ropes and cables consigned from Morocco and South Korea, for another five years, until April 21, 2028. The duties range from 0% for Moroccan exporter Remer Maroc and certain South Korean exporters to 60.4% for all Chinese exporters and all other Moroccan and South Korean exporters. The duties specifically cover "steel ropes and cables including locked coil ropes, excluding ropes and cables of stainless steel, with a maximum cross-sectional dimension exceeding 3mm."