The Senate on March 10 passed a government funding bill that includes an emergency Ukraine-related aid package for certain U.S. export control and sanctions work. The bill, passed by the House March 9 (see 2203100014), allocates money for the Bureau of Industry and Security, the Treasury Department’s Office of Terrorism and Financial Intelligence, and DOJ to help enforce export controls and sanctions against Russia. The president must sign the bill before it becomes law.
The Senate voted March 10 to confirm Maria Pagan as deputy U.S. trade representative in USTR's Geneva office to serve as an ambassador to the World Trade Organization. Pagan joined USTR's staff in 2003, rising to deputy general counsel and aiding the agency across multiple administrations on a host of trade agreements and negotiations. Before joining USTR, Pagan was an attorney adviser in the Office of the Chief Counsel for International Commerce at the Commerce Department. During her confirmation hearing, Pagan said that reforming the WTO's Appellate Body is a top priority since the body's "overreaching has shielded China's non-market practices and hurt the interest of U.S. workers and businesses" (see 2111300063). She was confirmed by an 80-19 vote, with Sen. Jim Inhofe, R-Okla., not voting.
The House March 9 passed a government funding bill, including an emergency Ukraine-related aid package for certain U.S. export control and sanctions work.
A Senate bill with bipartisan support could apply secondary sanctions on anyone transacting or transporting gold from Russia’s central bank holdings or selling gold in Russia. The Stop Russian Government and Oligarchs from Limiting Democracy Act, introduced this week, would look to close a “loophole” in U.S. sanctions that allows Russian oligarchs to launder money through gold, the sponsoring senators said March 8. The bill would authorize secondary sanctions to “deter the purchase of Russian gold and close this loophole that allows the Russian Federation to soften the financial impact of sanctions.”
The National Electrical Manufacturers Association is asking House and Senate leadership to "expeditiously advance" a compromise China package by resolving differences between the U.S. Innovation and Competition Act (USICA) and the America Creating Opportunities for Manufacturing Pre-Eminence in Technology and Economic Strength (America Competes) Act.
Two House Republicans again reminded the State Department that it must submit to Congress any new deal reached with Iran over its nuclear commitments, saying they are concerned the Biden administration may be trying to avoid this requirement (see 2106150029). House Minority Leader Kevin McCarthy, R-Calif., and Rep. Michael McCaul, R-Texas, said they fear the administration is “working through Russian intermediaries to finalize an Iran nuclear deal without submitting it for Congressional consideration.”
The Biden administration should close a sanctions “loophole” that allows Russian nationals to continue making “significant” deposits at U.S. banks and purchases of U.S. securities, Senate Foreign Relations Committee Chair Sen. Bob Menendez, D-N.J., said. He said the move would more closely align U.S. financial restrictions with those imposed by European allies and help cut off all access to the U.S. financial system for Russian elites who are “currently still able to keep sizable assets safe in the U.S. market.”
Democrats who lead the House Select Subcommittee on the Coronavirus Crisis are asking major carriers for extensive documents and proprietary information, saying they have the authority to investigate price gouging and profiteering connected to the pandemic.
China Tech Threat, a consultant-owned organization that advocates for stronger export controls, urged the Senate to speed up the confirmation process for Alan Estevez to lead the Bureau of Industry and Security. The group said Estevez will bring “extensive national security background to the role at a critical time as China’s ambitions to dominate emerging technology markets pose a serious threat to U.S. economic and national security interests.” The vacancy for BIS undersecretary leaves a “glaring hole in our export control regime,” the organization said, noting that it has been more than five years since the agency last had a confirmed undersecretary.
The U.S. should begin seizing the financial and physical assets of sanctioned Russian people and entities instead of just freezing them, said Sen. Rob Portman, R-Ohio. He said other countries have started seizing Russian vessels, such as France, which recently seized a car cargo ship in the English Channel with ties to the son of a former Russian spy chief, according to a Reuters report.