Where Industry and Security Intersect
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(WASHINGTON) -- WECO Agencies (Louisiana) Inc., a New Orleans, La., based shipping agent, has agreed to pay civil penalties totaling $12,000 for three alleged violations of the antiboycott provisions of the Export Administration Act and Regulations, Assistant Secretary for Export Enforcement F. Amanda DeBusk, announced today.
The Department alleged that WECO, in a transaction involving a sale to Lebanon in 1993, agreed to decline to do business with ships blacklisted by the countries that participate in the Arab League boycott of Israel, and furnished information about another company's business relationships with such blacklisted ships, in violation of the Regulations. The Department also alleged that WECO failed to report to the Department its receipt of a boycott-related request. While neither admitting nor denying the allegations, WECO agreed to pay the civil penalty.
The antiboycott provisions prohibit U.S. individuals and companies from refusing, agreeing to refuse, or requiring other persons to refuse to do business: 1) with or in a boycotted country; 2) with any business concern organized under the laws of a boycotted country; 3) with any national or resident of a boycotted country; or, 4) with any person or business agreeing with a requirement of, or a request from or on behalf of a boycotting country.
The antiboycott provisions also prohibit U.S. individuals and companies from furnishing information about: 1) any person's business relationships with or in a boycotted country; or 2) companies or individuals known or believed to be restricted from doing business with or in one or more countries that participate in the Arab boycott of Israel.
U.S. companies and individuals are required to report to the Department each boycott-related request they receive.
In April of 2002 the Bureau of Export Administration (BXA) changed its name to the Bureau of Industry and Security(BIS). For historical purposes we have not changed the references to BXA in the legacy documents found in the Archived Press and Public Information.