Adding sanctions on Chinese surveillance company Hikvision would represent a “profound escalation” of U.S.-China technology tensions, prompt retaliation from China and further accelerate economic decoupling, the Carnegie Endowment for International Peace said May 6. The sanctions, reportedly under consideration by the Biden administration (see 2205040009), could “vault Hikvision past Huawei to become the most-sanctioned Chinese tech company,” the think tank said.
The U.S., the EU and the other G-7 members on May 9 announced a series of new sanctions and restrictions on Russia, including a ban on providing certain business management services to the country and a commitment to phase out imports of Russian oil. New U.S. restrictions include broader export controls and sanctions targeting Russian banking executives, a weapons manufacturer and state-owned media.
The European Commission updated various elements of its frequently asked questions guidance pertaining to the ever-changing Russian sanctions regime. The commission on May 4 updated the guidance for "Circumvention and due diligence," "Trading" and "Assets freeze and prohibition to make funds and economic resources available." The guidance walks through the nuances of how to comply with sanctions on Russian individuals, entities and sectors of the economy. Other recently updated FAQs cover "Insurance and reinsurance," "Sale of securities in an official Member State currency," "Deposits," "Luxury goods," "Humanitarian aid" and "Credit rating."
Russia imposed retaliatory sanctions on Japanese politicians, businesspeople and members of the media, including Prime Minister Fumio Kishida, banning their travel to Russia, the Russian Ministry of Foreign Affairs announced May 5, according to an unofficial translation. The 63 individuals subject to the reciprocity also include Chief Cabinet Secretary Hirokazu Matsuno and Foreign Affairs Minister Yoshimasa Hayashi.
CBP is almost ready to mandate electronic export manifest for ocean, air and rail, and plans to issue an EEM pilot for trucks within the next year, said Jim Swanson, director of the cargo and security controls division, for cargo and conveyance security in the CBP Office of Field Operations. CBP has been under pressure to move faster on the project after delays in 2021 pushed back its full release to at least this year (see 2110180038).
The U.S. expanded export controls on Russia to cover a broader range of “commercial and industrial operations,” including wood products and construction machinery, the Commerce Department said. The new controls make more items on the Export Administration Regulations subject to “stringent” licensing restrictions for export to Russia, the Bureau of Industry and Security said in a final rule that includes the specific Schedule B numbers and Harmonized Tariff Schedule codes of the newly restricted items. Commerce said the items previously didn’t require a license for “most exports” to Russia.
German exports to Russia fell 62.3% in a one-month period to around $905 million in March due to the fallout from the Russian invasion of Ukraine, which began Feb. 24. According to data from Germany's statistics office, total exports fell 3.3% from February. The decline stems from the deluge of sanctions being placed by the EU and other leading economies on Russia while private companies are also rushing to sever ties with Russia. "Compared with February 2022, exports to the Russian Federation decreased by 62.3% to 0.9 billion euros in March 2022 because of the sanctions imposed as a result of Ukraine's fight against Russia, further measures to restrict exports, and unsanctioned behaviour of market participants," the statistics office said. "Imports from Russia declined by 2.4% to 3.6 billion euros in the same period."
The U.K. added 63 entries, including 31 individuals, to its Russia sanctions regime as part of the wave of sanctions on Russia following its military assault on Ukraine, the Office of Financial Sanctions Implementation announced. The newly listed individuals include media executives, members of the Federal Council of Russia and leading businesspeople. The May 4 notice also amends the entries for Rossiya Segodnya and TV-Novosti, two major Russian media organizations, to add internet services sanctions.
The Office of Foreign Assets Control issued Russia-related general licenses 7A, 26A, 31 and 32 on May 5. The licenses allow emergency overflight and landings of U.S. aircraft in Russia and the filing and prosecution of infringement of various intellectual property protection, as well as the wind-down of transactions with Amsterdam Trade Bank NV and Sberbank subsidiaries through 12:01 a.m. EDT July 12. OFAC also published one new frequently asked question on Afghanistan-related sanctions and updated one FAQ on Ukraine-/Russia-related sanctions.
The EU rolled out its sixth package of sanctions on Russia following its invasion of Ukraine that includes an import ban on all Russian oil, European Commission President Ursula von der Leyen announced in a May 4 speech. She said, according to her written remarks prepared for delivery, that the sanctions package also includes designations of high-ranking military officers including those who committed "war crimes" in Bucha and "the inhuman siege" of Mariupol; the removal of Sberbank and two other leading Russian banks from SWIFT, the interbank messaging and payment system; a ban on three Russian state-owned broadcasting companies; and an export ban on accountancy, consultancy and "spin doctor" services.