A British bank failed to stop a newly sanctioned person from withdrawing money even after the U.K.’s Office of Financial Sanctions Implementation warned the bank beforehand that the person soon would be designated, OFSI said in an enforcement notice released this week.
A new executive order signed last week by President Donald Trump authorizes sanctions and export controls against any country determined to have wrongfully detained U.S. nationals. The order allows the State Department to designate certain foreign countries a State Sponsor of Wrongful Detention, which would authorize International Emergency Economic Powers Act sanctions against the country and export controls under the Arms Export Control Act, the Export Control Reform Act “or any other Federal law.”
H.R. McMaster, former national security adviser during the first Trump administration, said he disagrees with the government's plan to approve exports of Nvidia's advanced H20 chips to China (see 2508220003) and hopes the administration soon develops a more coherent economic security strategy.
The Commerce Department’s spring 2025 regulatory agenda for the Bureau of Industry and Security features more than 20 new rulemakings that could introduce new or update existing export controls, including restrictions over advanced AI chips, emerging technologies, Russia-related controls and other revisions to the Export Administration Regulations.
A Texas-based freight forwarder will pay the Office of Foreign Assets Control more than $1.6 million to settle allegations that it violated sanctions against Venezuela and Iran. OFAC said company employees bypassed its sanctions compliance program procedures by working with a designated Venezuelan airline and an Iran-linked aircraft to transport goods from Mexico to a customer in Argentina.
Kimberly Prost, an International Criminal Court judge sanctioned by the Office of Foreign Assets Control last month, suggested that her designation may not meet OFAC sanctions criteria and that she’s considering challenging it. Although the listing has had “serious” financial and psychological effects on her and other ICC judges designated by the Trump administration this year, she said the court will continue its investigations.
The Bureau of Industry and Security is revoking Taiwan Semiconductor Manufacturing Company's status as a validated end-user, which allows the company to ship certain chip equipment to China under a general authorization, the company said Sept. 2.
The Bureau of Industry and Security is removing Chinese affiliates of Samsung and SK hynix from its Validated End-User List, making them ineligible for a general authorization that had allowed them to receive certain controlled technology for their Chinese factories.
The Bureau of Industry and Security will ease export controls on Syria Sept. 2 by creating a new license exception for the country, making it eligible for a broader set of existing exceptions and revising current BIS license review policies for Syria to “be more favorable.”
New guidance from U.S. national security agencies warns academic institutions and researchers to guard against increasing attempts by China and others to illegally acquire research, expertise or export controlled technologies. It also recommends steps researchers should take to make sure they don’t violate export laws, including if they’re involved in a foreign talent recruitment program or collaborating on research with people from another country.