Treasury Lists Countries Requiring Cooperation With International Boycotts
The Treasury Department has published its current list of countries that require or may require participation in, or cooperation with, an international boycott. The countries included on this list are:
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| Kuwait | Saudi Arabia |
| Lebanon | Syria |
| Libya | United Arab Emirates |
| Qatar | Republic of Yemen |
Iraq's Status Remains Under Review
The Treasury Department states that Iraq is not included in this list, but its status with respect to future lists remains under review by the Treasury Department.
BIS Regulations Prohibit Compliance with International Boycotts Against Countries Friendly to U.S.
The Export Administration Regulations (EAR) prohibit U.S. individuals and companies from, among other things, refusing or agreeing to refuse to do business with others because of foreign boycotts that are directed against countries friendly to the U.S. and not sanctioned by U.S. law. The EAR requires U.S. persons to report quarterly requests they have received to take certain actions to comply with, further, or support an unsanctioned boycott. EAR reports are filed quarterly on form BIS 621-P (single requests) or form BIS 6051P (multiple requests).
The Bureau of Industry and Security (BIS) has previously stated that the Arab League boycott of Israel is the principal foreign economic boycott that U.S. companies must be concerned with today. However, BIS has noted that the antiboycott laws apply to all boycotts imposed by foreign countries that are unsanctioned by the U.S.
Additional information, including a link to the antiboycott regulations, examples of recent boycott requests, etc., are available on the Web site of BIS' Office of Antiboycott Compliance at http://www.bis.doc.gov/antiboycottcompliance/default.htm. In addition, BIS also posts to its Web site (http://www.bis.doc.gov/) press releases of actions it takes against U.S. companies for violations of its antiboycott regulations.
(See ITT's Online Archives or 11/01/07 news, 07110110, for BP summary of Treasury's previous list of countries requiring cooperation with international boycotts.)
Treasury Notice (FR Pub 03/13/08) available at http://a257.g.akamaitech.net/7/257/2422/01jan20081800/edocket.access.gpo.gov/2008/pdf/E8-4900.pdf