Mike Walsh, former chief of staff and acting general counsel at the Commerce Department, has joined Shearman & Sterling as a partner in the Washington, D.C., office's litigation wing, the firm announced. His practice will center on the national security elements of cross-border transactions, including matters involving the Committee on Foreign Investment in the U.S., export controls, Office of Foreign Assets Control sanctions and other cross-border investment proceedings. From 2018 to 2021, Walsh oversaw "legal initiatives" at Commerce, including CFIUS, export enforcement functions and appellate litigation. Most recently, Walsh was a partner at Foley & Lardner.

Export Compliance Daily is providing readers with the top stories from last week in case you missed them. You can find any article by searching for the title or by clicking on the hyperlinked reference number.

The Treasury Department fined U.S. crypto exchange Kraken $362,158.70 for violating U.S. sanctions against Iran, the agency said this week. Treasury’s Office of Foreign Assets Control said Kraken, also known as Payward, exported services to users who “appeared to be” in Iran and allows them to conduct virtual currency transactions on Kraken’s platform. The violations stemmed from Kraken’s "failure to timely implement appropriate geolocation tools, including an automated [internet protocol] address blocking system," OFAC said.

The U.S. will allow Chevron to resume certain oil activities in Venezuela, giving the California-based energy company a “limited” license to pump oil in the sanctioned country for the first time in years. The license, which the White House believes will have a minimal impact on Venezuela's oil shipments, was issued in an effort to support the newly restarted negotiations between President Nicolas Maduro’s regime and the country’s opposition party, the Treasury Department said. It also comes amid opposition from U.S. Republicans, who warned the administration that a license would only offer the Maduro regime sanctions relief and undermine prospects for the return of democracy to Venezuela (see 2211020032, 2210280032 and 2210060014).

The Office of Foreign Assets Control this week designated three Iranian security officials for actions connected with the government's "continuing crackdown on protests. The sanctions target two key officials in the city of Sanandaj, the capital of Kurdistan province: Hassan Asgari, the governor of Sanandaj, and Alireza Moradi, the commander of Law Enforcement Forces of Iran in Sanandaj. The third designee is Mohammad Taghi Osanloo, commander of the Islamic Revolutionary Guard Corps Ground Forces who oversees Iran’s West Azerbaijan province.

The Office of Foreign Assets Control this week issued a determination that will prohibit certain shipping services related to Russian oil, and said it will soon announce a price cap on Russian fuel alongside its G-7 partners. The agency also issued a guidance outlining how it plans to implement the price cap -- including compliance requirements for U.S. service providers -- and three related general licenses.

The Office of Foreign Assets Control on Nov. 21 extended a Russia-related general license that authorizes the payment of certain taxes and import fees to the Central Bank of the Russian Federation, the National Wealth Fund of the Russian Federation or the Ministry of Finance of the Russian Federation despite the sanctions imposed on those entities. General License 13C, which replaces GL 13B (see 2209080047), extends the authorization through 12:01 a.m. EST on March 7, 2023. GL13B was scheduled to expire Dec. 7.

The Office of Foreign Assets Control designated two people and three companies for their roles in exploiting the Guatemalan mining sector, along with three associated entities connected with their corruption schemes, according to a Nov. 18 news release.

The Office of Foreign Assets Control in a Nov. 18 notice issued Russia-related General License 54 authorizing all transactions necessary for the purchase or receipt of any debt or equity securities of VEON Ltd, a multinational telecommunication services company. The license authorizes transactions that would otherwise be prohibited by executive order 14071, Prohibiting New Investment in and Certain Services to the Russian Federation, provided that the debt or equity securities were issued prior to June 6. The license does not authorize transactions otherwise prohibited by the Russian Harmful Foreign Activities Sanctions Regulations, including transactions involving any blocked person, unless separately authorized.

The Office of Foreign Assets Control designated La Nueva Familia Michoacana and its co-leaders, Johnny Hurtado Olascoaga and Jose Alfredo Hurtado Olascoaga, for smuggling drugs "into and throughout" the U.S., including the proliferation of "rainbow fentanyl," according to a Nov. 17 news release.