The Office of Foreign Assets Control this week sanctioned four entities and identified one vessel for violating the price cap on Russian oil. OFAC said they were involved in a “price cap violation scheme” in late 2023 that included making calls at Russian ports.
An investigation by the House Select Committee on China found that five U.S. venture capital firms have invested more than $3 billion in Chinese technology companies, many of which aid China’s military, surveillance apparatus and human rights violations, the committee said on Feb. 8.
The Treasury Department is likely to release its draft outbound investment regulations in the next several months, setting them up to potentially take effect before year's end, said foreign investment lawyer Jonathan Gafni of Linklaters.
Jennifer Solari, a former senior official with DOJ who prosecuted export violations, has joined BakerHostetler, the law firm announced this week. Her practice will focus on export controls, the Foreign Corrupt Practices Act and other white collar issues.
The U.K. on Feb. 6 extended by six months its general license authorizing certain humanitarian-related transactions under its Syria sanctions regime. The exemption will now run through Aug. 14 and allows humanitarian organizations, including the U.N., to carry out humanitarian activity in Syria needed to deliver earthquake relief in Syria and Turkey.
The U.K. on Feb. 6 amended the entry for Oleg Alexandrovich Mashtalyar under its Russia sanctions regime. The entry was revised to reflect that Mashtalyar no longer works as the vice chairman of the management board of Sovcombank, a Russian bank. Mashtalyar, who is still sanctioned, was originally designated for operating in Russia's financial services sector.
Rep. Bill Huizenga, R-Mich., welcomed the Biden administration’s recent decision to reimpose sanctions on Venezuela after the country’s supreme court barred opposition leader Maria Corina Machado from this year’s presidential election (see 2401300014).
President Joe Biden extended a national emergency that authorizes sanctions against people and entities in Myanmar, the White House said Feb. 7. The “situation” resulting from the military coup in 2021 continues to pose a threat to U.S. national security and foreign policy, the White House said. The emergency was extended for one year beyond Feb. 10.
The Office of Foreign Assets Control this week sanctioned an Ecuadorian gang and its leader for their ties to drug trafficking and violence.
The State Department’s Directorate of Defense Trade Controls has completed a round of interagency review for a new final rule that could add to its list of proscribed countries under the International Traffic in Arms Regulations. Those countries are generally subject to an export license review policy of denial. DDTC sent the rule for interagency review Jan. 12 (see 2401160017), and the review was completed Feb. 5.