KUALA LUMPUR (Dec 17): The US Commerce Department’s Bureau of Industry and Security (BIS) is acting against entities operating in Malaysia, China, Georgia and Turkey for diverting or attempting to divert US items to Iran’s military programmes. Malaysia’s Integrated Scientific Microwave Technology Sdn Bhd was on the list released by the BIS on Thursday (Dec 16). For the entities added to the Entity List in this final rule, the BIS imposes a licence requirement that applies to all items subject to the Export Administration Regulations (EAR). In addition, no licence exceptions are available for exports, re-exports or transfers (in-country) to those added to the Entity List in this rule. For all entities added to the Entity List, the BIS imposes a licence review policy of a presumption of denial.

Source: The Edge Markets December 17, 2021 15:36 UTC