The Bureau of Industry and Security will ease export controls on Syria Sept. 2 by creating a new license exception for the country, making it eligible for a broader set of existing exceptions and revising current BIS license review policies for Syria to “be more favorable.”
The Office of Foreign Assets Control is renewing a general license that authorizes certain imports of Russian non-industrial, unsorted diamonds that were substantially transformed outside of Russia. General License 104A, which replaces 104, authorizes those imports as long as the diamonds were located outside of Russia on March 1, 2024, for diamonds weighing 1 carat or more, and Sept. 1, 2024, if they weigh more than 0.5 carats but less than 1 carat. The license was set to expire Sept. 1 (see 2408230043), but it now expires on that date in 2026.
The U.S. this week sanctioned two International Criminal Court judges and two prosecutors that the State Department said have been involved in efforts to investigate, arrest or prosecute people from foreign countries without those countries' consent.
The U.K.’s Office of Financial Sanctions Implementation issued three new FAQs to provide guidance on its Russia-related general license that authorizes certain transactions involving brokerage firms.
The Office of Foreign Assets Control issued a new general license this week to authorize certain transactions related to the Trump administration's planned meeting with Russian officials this week in Alaska. General License 125 authorizes transactions that are "ordinarily incident and necessary to the attendance at or support of meetings" between the two countries. Those transactions are authorized through 12:01 a.m. ET on Aug. 20.
Malaysia's July export license mandate for shipments of U.S.-origin advanced AI semiconductors could be a precursor to the U.S. carving out Malaysia from upcoming rules on advanced chip exports, a former Bureau of Industry and Security official said.
The Office of Foreign Assets Control is now accepting licensing questions through a new online platform and is planning to retire its current callback-only telephone system on Aug. 29, the agency said this week. Users that submit questions through the online platform will receive answers about specific OFAC licenses and interpretive guidance via email or by phone. Before submitting questions, OFAC said, users are encouraged to review existing sanctions FAQs, watch OFAC’s video guidance on applying for a license, review the agency’s best practices for license applications, and check their license application status.
The U.K. on July 21 sanctioned United Arab Emirates-based companies Intershipping Services and Litasco Middle East DMCC for doing business involving the Russian energy sector. The Office of Financial Sanctions Implementation also issued a new general license that authorizes certain transactions with Intershipping Services involving ships owned by the government of Gabon.
The U.K. issued a new Russian sanctions general license allowing non-designated parties who have made investments through sanctioned brokers to "transfer their funds to a non-designated broker." The license applies when the only sanctioned party involved is the broker. Under the license, an "Asset Holding Institution" can take steps to transfer any funds held by a central securities depository that the asset-holding institution "reasonably considers" are "investment assets of that" non-sanctioned account holder and relate to investment made by the non-sanctioned account holder with the sanctioned broker before it became sanctioned.
The Office of Foreign Assets Control fined a Connecticut-based online investment broker $11,832,136 to settle alleged violations of multiple U.S. sanctions programs, saying the company illegally provided services to sanctioned people and restricted countries, and it processed trades in securities of blocked Chinese military companies.