Congress will move toward a vote on a bill that gives the president the authority to hike tariffs on goods from countries that buy Russian energy, and directs him to prohibit banking transactions and foreign exchange transactions for Russian companies doing business with companies or banks in other countries.
U.S. and multilateral sanctions and export controls imposed on Russia, Iran and North Korea have had only a limited effect due to China’s role in helping those countries evade the restrictions, the congressionally mandated U.S.-China Economic and Security Review Commission said in a report released Nov. 14.
The Trump administration has given Hungary a one-year exemption from sanctions that it recently imposed on two major Russian energy companies, Secretary of State Marco Rubio said late Nov. 12.
The Bureau of Industry and Security again renewed a temporary denial order on Russia's Rossiya Airlines, saying the company has continued to illegally operate planes in violation of U.S. export controls, including on flights between Russia and Uzebekistan and Russia and Egypt, as well as domestically within Russia. The agency renewed the denial order for one year from Nov. 4. BIS first suspended the export privileges of the airline in May 2022 (see 2205200008) and has renewed the order multiple times. The order blocks Rossiya from participating in transactions subject to the Export Administration Regulations.
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The Treasury Department received mixed feedback about its decision to delay new regulations that were set to make investment advisers subject to anti-money-laundering (AML) and countering the financing of terrorism (CFT) requirements, a Biden-era effort that was meant to prevent criminals from hiding money in the U.S. and sanctioned companies from accessing sensitive technology through investments in American firms (see 2509230035 and 2507240021).
The U.S. has given Syria a new 180-day sanctions waiver under the Caesar Syria Civilian Protection Act of 2019 to help the war-torn country continue its rebuilding effort, the Office of Foreign Assets Control said Nov. 10.
The Australian Sanctions Office released eight advisory notes Nov. 6 to "assist the regulated community understand their sanctions risks," the agency said in a press release. Topics include the risks associated with exporting drones to Russia and the cyber risks of North Korean IT workers to Australian businesses.
A bipartisan group of 12 senators led by Senate Foreign Relations Committee ranking member Jeanne Shaheen, D-N.H., introduced a resolution Nov. 6 welcoming the Trump administration’s recent decision to sanction two major Russian oil companies to pressure Moscow to seek peace with Ukraine (see 2510220050).
President Donald Trump said Nov. 7 that he’s considering giving Hungary an exemption from sanctions that his administration recently imposed on two major Russian energy companies.