India's Directorate General of Foreign Trade this week issued new guidelines for how companies should develop and operate export control compliance programs for dual-use goods. The guidance states that companies must have export compliance programs in order to be eligible for certain export licenses, including India's "Global Authorisation for Inter-Company Transfers" scheme, which issues licenses for exports to company affiliates in certain third countries, and the country's "Open General Export License" scheme, which issues one-time export licenses for a specific time period.
The Trump administration’s decision to approve exports of advanced Nvidia chips to China could backfire on the U.S. the next time it tries to convince allies to restrict their advanced technology shipments to China, Divyansh Kaushik of Beacon Global Strategies said.
The Office of Foreign Assets Control fined a Connecticut-based online investment broker $11,832,136 to settle alleged violations of multiple U.S. sanctions programs, saying the company illegally provided services to sanctioned people and restricted countries, and it processed trades in securities of blocked Chinese military companies.
The Trump administration will allow semiconductor firm Nvidia to sell its previously restricted advanced H20 chips to China as part of an agreement Washington and Beijing reached during trade talks in recent months, Treasury Secretary Scott Bessent said.
The Bureau of Industry and Security’s latest export control enforcement action against a semiconductor firm shows the agency may be preparing to target companies that flout its high probability standard, a trade lawyer and industry consultant said.
All shipments of U.S.-origin advanced AI semiconductors will require an export license from the Malaysian government when moving through Malaysia, the country announced July 14, a move that further aligns Malaysia with U.S. efforts to prevent the diversion of sensitive chips to China.
Finnish customs authorities are investigating a Helsinki-based forwarding company for a yearslong alleged scheme to violate sanctions by illegally delivering about 300,000 euros', or about $350,000, worth of goods to Russia.
The U.S. government, together with industry, needs to set clearer guardrails around sensitive technology shipments destined to China, two panelists said during an event on export controls last week. Another panelist questioned whether the Trump administration is willing to set tougher rules, saying Beijing appears to have recently gained extra leverage and adding that the U.S. has for years failed to deter companies from flouting restrictions against China.
The Russian grantor of a blocked U.S.-based trust company is suing the Office of Foreign Assets Control, saying OFAC falsely accused the trust of being used to help a Russian oligarch evade sanctions. Kuncha Kerimova, the grantor, said the trust was designed to share her wealth with her grandchildren and other descendants, not to aid designated Russian billionaire Suleiman Kerimov.
The U.K. is open to strengthening enforcement against both British and third-country companies that illegally divert goods to Russia, said Douglas Alexander, the U.K.’s minister for trade policy and economic security.