Scott Bessent, President-elect Donald Trump’s choice for Treasury secretary, said Jan. 16 that the U.S. should institute a “very rigorous screening process” to ensure its outbound investment does not help China catch up to the U.S. in such key technology areas as artificial intelligence, computing chips, quantum computing and surveillance.
Sen. Marco Rubio, R-Fla., said Jan. 15 that he hopes to elevate the State Department’s role in foreign policy-making if the Senate approves his nomination to lead the agency.
The U.S. this week issued a host of new Russia-related sanctions, designating nearly 100 entities as Russia-related secondary-sanctions risks and a range of other people and companies that it said are helping Russia evade sanctions. The Treasury Department sanctions specifically target a “sanctions evasion scheme” helping people in Russia and China make international payments for sensitive goods and a Kyrgyzstan bank also helping Russia evade sanctions, while new State Department sanctions target more than 150 entities and people, including in China, for supporting Russia’s military industrial base.
Former Deputy Treasury Secretary Wally Adeyemo has left the Treasury Department to begin new fellowship roles with Columbia University’s Institute of Global Politics and Center on Global Energy Policy, the school announced on LinkedIn. As Treasury’s top official under Secretary Janet Yellen, Adeyemo helped oversee the Biden administration’s implementation of sanctions against Russia, the price cap on Russian oil, and more.
Export Compliance Daily is providing readers with the top stories from last week in case you missed them. You can find any article by searching for the title or by clicking on the hyperlinked reference number.
An indictment was unsealed on Jan. 7 charging three Russian nationals for their role in a scheme to operate the "cryptocurrency mixing services" Blender.io and Sinbad.io, both of which have been sanctioned by the Office of Foreign Assets Control, DOJ announced.
Japan is placing new trade restrictions on Russia, including export controls over certain audio equipment, engines and parts for “special vehicles,” such as cranes and small motorcycles, the country’s trade minister said during a Jan. 10 press conference, according to an unofficial translation. Japan will also take "measures to prevent indirect exports” to Russia being sent by companies in third countries. “We will continue to cooperate with the international community, including the G7, and take all possible measures to implement sanctions against Russia,” the minister said. “The details will be explained by the secretariat at a later date.”
The U.K. on. Jan. 9 amended the sanctions listing for transportation company Zapchasttrade LLP under its Russia sanctions regime, the Office of Financial Sanctions Implementation announced. OFSI updated the company's business regulation number.
The U.K.’s Office of Financial Sanctions Implementation on Jan. 10 sanctioned major Russian oil producers and exporters Gazprom Neft and Surgutneftegas for operating in Russia’s energy sector. The designations were announced in conjunction with new sanctions issued by the Biden administration last week, U.S. officials said, which targeted a host of companies and vessels helping to move Russian energy products (see 2501100027).
The U.S. announced a host of new sanctions against Russia’s energy sector last week, targeting major Russian oil producers, oil service providers and insurance companies, as well as vessels and traders moving Russian oil as part of the country’s shadow fleet. The Office of Foreign Assets Control also issued two new determinations that authorize sanctions against any person or entity with ties to Russia’s energy sector and that block the provision of U.S. petroleum services to parties in Russia, and it announced it will soon be ending a general license that had authorized certain Russia-related energy payments.