Antiboycott Updates And Compliance Recommendations

On June 7, 2021, US Department of Commerce, Bureau of Industry and Security ("BIS") amended its Antiboycott provisions in Part 760 of the Export Administration Regulations ("EAR") easing reporting requirements and business barriers with the UAE.  This action followed the United States Treasury Department's removal of the United Arab Emirates ("UAE") from its list of countries which have been known to require participation in, or to cooperate with, an international boycott. 

The removal of the UAE from Treasury's Section 999 List and the changes to BIS's Antiboycott provisions follow the UAE's establishment of diplomatic relations with Israel in August 2020 under the UAE-Israel Abraham Accords, and its subsequent repeal of Federal Decree-Law No. 15 of 1972 that required participation in the Arab League Boycott against Israel.