- AutorIn
- Philip Haellmigk
- Titel
- Iran, Russia, China
- Untertitel
- Who's next?
- Zitierfähige Url:
- https://nbn-resolving.org/urn:nbn:de:bsz:15-qucosa2-728435
- Quellenangabe
- Compliance Elliance Journal - 6 (2020),2, Transnational Aspects of Compliance
Erscheinungsjahr: 2020
Jahrgang: 6
Heft: 2
Seiten: 29-44 - Erstveröffentlichung
- 2020
- Abstract (DE)
- Since the Trump election, the subject of extra-territorial application of national law – in particular U.S. law – has received considerable attention. This is so because the U.S. administration increasingly uses this legal tool to enforce its foreign policy interests. A legal area with a particularly strong reach of extra-territoriality is U.S. export controls as this allows the U.S. to control foreign states’ business. A very recent and vivid example is the Huawei trade ban by the U.S. The purpose of this article is to show the (harsh) legal and economic effects, which the extra-territorial application of U.S. export-related laws have on international trade. The article will focus on the approach taken by the U.S. to impose its export controls outside the U.S. It will analyze the legal framework of extra-territorial U.S. export controls and explore to which extent the U.S. laws apply to foreign business, i.e., business outside the U.S. The article will define the cases in which foreign companies are subject to U.S. export controls and therefore must comply with U.S. regulations. It will show that the applicability of U.S. export controls to foreign companies and their business is considerably broad. It rigorously controls the destiny of U.S. origin products and components once they have been exported from U.S. territory and also regulates the worldwide export of products that have been manufactured by using U.S. technology. In addition, U.S. export controls impose economic sanctions on countries (e.g., Iran) or companies (e.g., Huawei) and prohibit foreign companies from doing business with these sanctioned parties. Understanding U.S. export controls and its extra-territorial reach are a challenge for foreign companies. It is a rather complex legal system that requires deeper knowledge of the underlying concept. However, foreign companies are well advised to comply with U.S. export controls, as the penalties for violations can be severe, including millions of dollars in fines and even imprisonment. In addition, the U.S. may blacklist foreign companies with the effect that business with the U.S. or elsewhere is no longer possible. Therefore, understanding U.S. export controls and its extra-territorial reach is vital to foreign companies.
- Freie Schlagwörter (DE)
- Compliance, Metoo-Debatte, Sanktionslisten, Blockchain, Verbandsstrafbarkeit
- Freie Schlagwörter (EN)
- Compliance, meto-debate, sanction lists, block chain, association punishability
- Klassifikation (DDC)
- 343
- Publizierende Institution
- Universität Leipzig, Leipzig
- University of Miami, Miami
- Version / Begutachtungsstatus
- publizierte Version / Verlagsversion
- URN Qucosa
- urn:nbn:de:bsz:15-qucosa2-728435
- Veröffentlichungsdatum Qucosa
- 20.11.2020
- Dokumenttyp
- Artikel
- Sprache des Dokumentes
- Englisch
- Lizenz / Rechtehinweis
- CC BY 4.0