Key Holding, a Delaware-based logistics company, was fined $608,825 by the Office of Foreign Assets Control to settle allegations that it violated U.S. sanctions on Cuba. OFAC said the company’s Colombian subsidiary illegally managed the logistics for 36 freight shipments from Colombia to Cuba.
The Bureau of Industry and Security fined a California semiconductor developer and supplier $4.25 million for violating U.S. export controls against Huawei, saying it illegally forwarded more than 1,500 power controllers, smart power stages and related accessories to the Chinese company without a license.
Companies could see a significant uptick in compliance responsibilities if the Bureau of Industry and Security follows through with a possible 50% rule for parties on the Entity List, although it’s unclear when exactly such a rule could take effect, former BIS officials said this week.
Chinese surveillance technology company Hikvision must close its businesses in Canada and stop all operations in the country after a foreign investment review by Canadian authorities.
President Donald Trump on June 30 signed an executive order to remove certain financial sanctions against Syria and authorize the "relaxation" of export controls against the country, part of broader effort to support Syria's "path to stability and peace," the White House said.
The U.K. is looking to strengthen its export controls and broader trade defense “toolkit” to better guard against economic threats by third countries, the country said in its 100-page trade strategy released last week.
The U.S. should quickly move forward with new secondary sanctions against supporters of Russia, government leaders and think tank officials said this week, and they urged the EU to do more to hold Beijing accountable for helping Russia evade sanctions.
The Office of Foreign Assets Control is considering adding a new online portal for sanctioned people and parties to ask to be removed from the agency's Specially Designated Nationals List and other OFAC restricted party lists.
An Israeli telecommunications and cybersecurity technology company told the Bureau of Industry and Security that it may have violated export controls against Russia and Belarus.
Former U.S. and U.K. national security officials warned the British government about aligning too closely with a decoupling strategy toward China, saying this week that the U.K. should carefully manage sensitive trade issues but not in a way that strains economic ties with Beijing.