Exporters and industry groups warned the Bureau of Industry and Security this month about placing new eligibility restrictions on License Exception Strategic Trade Authorization (STA) for several technologies critical to their businesses, saying that could disrupt their supply chains and saddle the agency with an influx of license requests. At least one company urged BIS to launch what it said is a much-needed review of its space-related export controls, which could benefit from the license exception but that haven’t been overhauled since 2017.
U.S. enforcement officials last week continued to warn about upcoming export control penalties, saying they hope those cases encourage companies to devote more resources to their compliance programs.
The Biden administration’s review of criteria for approving liquefied natural gas (LNG) export applications is expected to take “months, not years,” a senior Energy Department official said last week.
An investigation by the House Select Committee on China found that five U.S. venture capital firms have invested more than $3 billion in Chinese technology companies, many of which aid China’s military, surveillance apparatus and human rights violations, the committee said on Feb. 8.
The Treasury Department is likely to release its draft outbound investment regulations in the next several months, setting them up to potentially take effect before year's end, said foreign investment lawyer Jonathan Gafni of Linklaters.
The Federal Maritime Commission may need to change the way it adjudicates emergency surcharge waivers requested by carriers, at least one shipping industry official said during an informal Feb. 7 FMC hearing on Red Sea shipping disruptions.
The U.K. government faced pressure from Parliament this week about whether it failed to sanction companies owned by Iran’s state-backed petrochemicals firm, allowing it to evade western restrictions by maintaining accounts with at least two London banks. Members of Parliament called for an investigation and said the government may need more sanctions enforcement resources.
The Bureau of Industry and Security should get a “significant” funding boost next year so its export control authorities can keep pace with emerging technologies and so its enforcement branch can continue increasing penalties on violators, the top Democrats on the Senate Banking Committee said this week.
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The top Democrat on the House Select Committee on China said he believes Congress will be able to overcome its internal disagreements to pass legislation restricting outbound investment in China.