The Office of Foreign Assets Control this week sanctioned an armed group, a mining company and two export firms for their ties to violence and the sale of critical minerals in the Democratic Republic of the Congo. John Hurley, the Treasury Department's undersecretary for terrorism and financial intelligence, said the critical minerals trade in the DRC is harming civilians, "fueling corruption, and preventing law-abiding businesses from investing in the DRC."
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.
A U.S. cryptocurrency trading software company has reached a proposed $2.4 million settlement with the Office of Foreign Assets Control to resolve allegations that it violated U.S. sanctions, the company disclosed this week.
The Trump administration may consider expanding the revenue-sharing arrangements that it reached with Nvidia and AMD to other U.S. companies, the White House said this week.
Rep. Tony Gonzales, R-Texas, introduced a bill Aug. 8 that would sanction persons who knowingly provide content or media services to sanctioned foreign propaganda outlets. The bill was referred to several committees, including House Foreign Affairs. Further information on the legislation wasn’t immediately available.
The State Department labeled the Balochistan Liberation Army a Foreign Terrorist Organization and added several aliases to its existing entry as a Specially Designated Global Terrorist (see 1907020042), it said in Federal Register notices released this week. The additional aliases are Majeed Brigade, Fateh Squad and Zephyr Intelligence Research and Analysis Bureau. The Office of Foreign Assets Control updated its sanctions entry for the group to reflect the change.
Pacific Biosciences of California, an American biotechnology firm, said it recently informed the Bureau of Industry and Security about possible export violations involving China.
Semiconductor companies Nvidia and AMD are expected to pay the U.S. government a portion of the profits they earn from selling certain controlled chips to China, an arrangement that has sparked concerns and questions among exporters, lawmakers and former government officials.
U.S. companies shouldn’t rush to start business with Syria despite the Trump administration lifting some sanctions, said Daniel Schneiderman, a former Pentagon official who oversaw Afghanistan policy.
U.S. export controls have so far helped American chip companies maintain technological dominance over Chinese ones, a technology policy expert said this week, which suggests the Trump administration should rethink its decision to allow sales of H20 chips to China (see 2507150013).