THE JOURNAL OF EXPORT CONTROLS AND SANCTIONS

NEWS

BIS reaches settlement with Citibank over breach of anti-boycott rules

August, 2018

The bank was charged with 20 violations of the EAR.

BIS reaches settlement with Citibank over breach of anti-boycott rules

Global financial institution, Citibank has agreed to pay $60,000 in a settlement agreement with the US Department of Commerce’s Bureau of Industry and Security (‘BIS’) for breaches of the EAR concerning anti-boycott rules. The bank was accused of 20 violations in supplying information about business relationships with boycotted countries or blacklisted individuals. The transactions of goods and services (including information) took place between the US and Kuwait, Oman, Lebanon, Pakistan, Qatar and the United Arab Emirates (‘UAE’).

 

The order can be found here:
https://efoia.bis.doc.gov/index.php/documents/antiboycott/1195-a758/file

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