Sens. Pete Ricketts, R-Neb., and Michael Bennet, D-Colo., introduced a bill July 23 that would require the State Department to analyze whether the U.S. should use export controls, sanctions or “other economic restrictions” to discourage other countries from buying Chinese military equipment.
Sen. Dan Sullivan, R-Alaska, said July 23 that he plans to reintroduce a bill that seeks to deter a Chinese invasion of Taiwan by threatening to impose “massive sanctions” on China if such an attack were to occur. Sullivan made his comment at a hearing of the Congressional-Executive Commission on China, which he chairs. Sullivan introduced the bill, the Sanctions Targeting Aggressors of Neighboring Democracies (STAND), in the previous two Congresses (see 2407190039).
Sen. Pete Ricketts, R-Neb., a senior member of the Senate Foreign Relations Committee, took to the Senate floor July 23 to reiterate his call for the U.K., France and Germany to reimpose UN sanctions on Iran for violating its nuclear weapons-related obligations.
The Senate Appropriations Committee approved an FY 2026 transportation appropriations bill July 24 that would fully fund the Trump administration’s $40 million for the Federal Maritime Commission. The House version of the bill, which the House Appropriations Committee endorsed July 17, contains the same amount for the FMC (see 2507140005).
Sens. Tom Cotton, R-Ark.; Chris Coons, D-Del.; and John Cornyn, R-Texas, introduced a bill July 23 aimed at making it easier for American companies to sell unmanned aircraft to U.S. allies and partners.
House Select Committee on China Chairman John Moolenaar, R-Mich., has subpoenaed the CEOs of JPMorgan Chase & Co. and Bank of America for information on their roles in the initial public offering of Chinese electric vehicle battery producer Contemporary Amperex Technology Co. Ltd. (CATL), the panel announced July 24. The banks were told to comply by Aug. 8.
A senior State Department official declined to say this week whether the Trump administration is considering withdrawing from the Australia-U.K.-U.S. (AUKUS) security partnership, but she said the administration is generally in favor of the partnership.
The House Financial Services Committee approved legislation July 22 to increase sanctions on Russia and Burma and revise sanctions on Syria.
The U.S. should consider designating specific financial institutions, sets of transactions or types of accounts in Hong Kong as primary money laundering concerns to address the Chinese territory's recent crackdown on freedom and its role in aiding sanctions evasion by rogue regimes, a researcher told the Senate Foreign Relations Subcommittee on Human Rights July 22.
The Senate voted 51-47 along party lines July 23 to confirm John Hurley to be undersecretary of the treasury for terrorism and financial crimes. Two Republican senators didn’t vote.