BIS Issues Export Denial Orders Over Telecom Equipment Trade to Syria
The Bureau of Industry and Security penalized two Dubai-based traders and three companies operated by the pair over violations of the Export Administration Regulations, BIS said in a notice set to appear in Thursday's Federal Register. The two individuals and…
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their companies violated the EAR by conspiring to export and re-export controlled telecom equipment to Syria without the proper U.S. authorization and through falsified documents, BIS said. The agency placed on the Denied Persons List companies including iT Wave, for four years. The five entities are collectively being charged $7 million, the order said. The BIS directed the entities to pay only $250,000 in total over an annual, staggered payment schedule. The remaining fees will be waived after two years if no further violations are committed, BIS said.