Shipping industry officials last week called for a uniform, global set of rules and sanctions to address a rise in shadow fleet vessels, saying those tankers are presenting increasing safety and security risks for the maritime industry.
The European Commission's next sanctions package against Russia will ban imports of Russian liquefied natural gas, designate more shadow fleet vessels, target more Russian banks, introduce new export controls and more, President Ursula von der Leyen announced last week.
To crack down on Hong Kong’s significant role in sanctions evasion, the U.S. should increase funding for the Bureau of Industry and Security’s budget, pass pending anti-money laundering legislation and sanction banks involved in the Chinese territory’s illicit trade, a Hong Kong expert said Sept. 18.
Beijing’s directive this week that banned its top technology companies from buying certain Nvidia chips could be aimed at boosting its leverage amid trade negotiations with the U.S., technology policy analysts said. But they also said the U.S. shouldn’t assume the ban is just a negotiating tactic, arguing that it may signal that China is doubling down on efforts to reduce its dependence on advanced U.S. chips and other technologies.
The State Department has been approving the vast majority of export license applications involving South Korea, a senior agency official said this week, stressing that the government doesn’t want to be an impediment to defense trade with the close U.S. ally.
Export Compliance Daily is providing readers with the top stories from last week, in case you missed them. You can find any article by searching for the title or by clicking on the hyperlinked reference number.
The State Department is changing the way it treats exports of unmanned drones, a shift that's expected to allow firms to more easily obtain export approvals.
The Bureau of Industry and Security has removed certain export restrictions from aircraft belonging to Belavia, the state-owned flagship carrier of Belarus, as part of sanctions relief that the Trump administration has offered to the country in recent days.
President Donald Trump is getting closer to ramping up financial sanctions pressure against Russia for its failure to agree to a peace deal with Ukraine, said Keith Kellogg, the president’s special envoy for Ukraine.
President Donald Trump posted over the weekend that he is prepared to levy new sanctions against Moscow if U.S. allies stop purchasing Russian oil and potentially put in place other sanctions against the country.