Brookfield Business Partners, a private equity firm, recently received approval from the Committee on Foreign Investment in the U.S. to sell nuclear power company Westinghouse Electric, Brookfield said in a May 5 news release. The company last year said it planned to sell Westinghouse to a consortium led by Canada-based Cameco, a uranium mining company. Brookfield said it’s “progressing other regulatory approvals required to close the transaction which is expected in the third quarter of 2023.”

The State Department approved a potential $207 million military sale to Australia, the Defense Security Cooperation agency said May 4. The sale includes “Surveillance Towed Array Sensor System Expeditionary (SURTASS-E) mission systems for Vessels of Opportunity (VOO)” and related equipment, and the principal contractors will be Lockheed Martin-Syracuse and Lockheed Martin-Manassas.

The State Department approved a potential $650 million military sale to the Czech Republic, the Defense Security Cooperation Agency said May 3. The sale includes “AH-1Z and UH-1Y Refurbishment/Modernization” and related equipment, and the principal contractors will be Bell Helicopter and General Electric.

Although National Security Adviser Jake Sullivan (see 2304270066) and Treasury Secretary Janet Yellen (see 2304200058) confirmed in recent weeks that the administration is working on an outbound investment screening mechanism, their “vague” descriptions of the tool suggests the process has been difficult, a technology policy expert said. Martin Chorzempa, a research fellow with the Peterson Institute for International Economics, wrote in a May 3 post that the administration appears to be “having a challenging time balancing the planned restrictions against the concerns of a private sector that continues to have a stake in Chinese investments.”

The Biden administration this week released a national strategy for critical and emerging technology standards and outlined plans to strengthen American leadership in international standards bodies. The administration hopes the strategy helps the U.S. better work with allies to develop technologies that are “more accessible and sold more broadly across the globe, furthering market reach and helping to drive growth in our economies,” a senior administration official said during a May 3 call with reporters.

Governments globally should “proceed carefully” when considering new trade restrictions on per-and polyfluoroalkyl substances (PFAS) to avoid “unduly” restricting current semiconductor innovation, the Semiconductor Industry Association said last week. The group said PFAS “are used in a wide range of industrial processes and consumer products,” and although some may present “environmental and health concerns,” governments should avoid controlling uses of the substances that may not present health and environmental risks.

The State Department approved a potential $110 million military sale to Latvia, the Defense Security Cooperation agency said May 2. The sale includes a “Naval Strike Missile Coastal Defense System” and related equipment. The principal contractor hasn’t yet been determined.

The State Department approved a $31.2 million potential military sale to the U.K., the Defense Security Cooperation Agency said April 28. The sale includes “Advanced Precision Kill Weapon System-II” and related equipment. The principal contractor will be BAE Systems.

The State Department’s Directorate of Defense Trade Controls released its annual report to Congress on certain controlled defense exports. The report, released April 28, details the aggregate value and quantity of defense items and services authorized to each foreign country and international organization during FY 2022.

The State Department approved two potential military sales to Norway worth more than $1.1 billion combined, the Defense Security Cooperation Agency said April 26. The first sale, worth about $1 billion, is for “MH-60R Multi-Mission Helicopters” and related equipment, and the principal contractor will be Lockheed Martin Rotary and Mission Systems. The second sale, worth about $166 million, is for “sustainment and services for C-130J aircraft” and related equipment, and the principal contractor will be Lockheed Martin.