Sens. Dan Sullivan, R-Alaska, Jeff Merkley, D-Ore., and John Curtis, R-Utah, introduced a bill May 14 that would require the president to determine whether certain judges and other officials in Hong Kong violated human rights and should face sanctions under the Global Magnitsky Human Rights Accountability Act, the Hong Kong Human Rights and Democracy Act or the Hong Kong Autonomy Act.
The U.S. and Switzerland agreed this month to better share sanctions enforcement information, according to a memorandum of understanding released last week. The memorandum, signed by the Office of Foreign Assets Control and the Swiss State Secretariat for Economic Affairs, said they "express their intention to share information related to the monitoring, enforcement, and promotion of compliance with sanctions measures in force on both sides."
The Office of Foreign Assets Control last week removed a former Lebanon-based small business owner from its Specially Designated Nationals List after he sued the Treasury Department over his designation in December, arguing that OFAC unfairly delayed a decision on his delisting request.
The U.S. government needs more exemptions for close allies to quickly buy controlled defense items and weapons, both under the International Traffic in Arms Regulations and the Foreign Military Sales program, witnesses and lawmakers said during a congressional hearing on defense exports last week. Without significant ITAR and FMS reform, several lawmakers said they fear more countries will source more of their defense purchases from other countries, including potentially China.
China this week said it’s temporarily reversing April announcements that added dozens of U.S. companies to the country’s unreliable entity list, which blocked those firms from participating in import and export activities in China, and its export control list, which blocked them from receiving certain dual-use items (see 2504090017 and 2504040024). Beijing will suspend those restrictions for 90 days from May 14, the Ministry of Commerce said, according to unofficial translations.
A bipartisan group of eight House members May 15 introduced a companion to a Senate bill that would require export-controlled advanced computing chips to contain location verification mechanisms. The legislation is intended to prevent the diversion of chips to “adversaries” such as China.
Trade groups representing three strong exporting sectors -- soybeans, semiconductors and medical devices -- and an expert in critical minerals trade all told the Senate Finance Committee that higher tariffs on all countries and products, and constantly changing tariff policy, aren't good for American competitiveness.
The U.K.’s Office of Financial Sanctions Implementation emailed a reminder to industry this week about new sanctions reporting requirements for certain art dealers, real estate agents and insolvency practitioners. As of May 14, those people “are legally required to comply with relevant firms reporting obligations in the UK,” OFSI said, including reports about suspected sanctions violations.
The U.S. this week sanctioned two Hezbollah officials and two people who help the group receive money from overseas donors, which contribute a “significant portion of the terrorist group’s overall budget,” the Treasury Department said.
The Office of Foreign Assets Control issued a new general license that eliminates the expiration date for certain authorized transactions with the Caspian Pipeline Consortium, an international crude oil transportation project involving Russia, and the Tengizchevroil project, another oil venture involving Chevron and Kazakhstan. New General License 124 authorizes certain transactions with those projects that would normally be prohibited under a January determination that blocks the provision of U.S. petroleum services to parties in Russia (see 2501100027).