The Bureau of Industry and Security is adding new export license requirements for people and entities designated under certain Treasury Department sanctions programs, a move it said will strengthen U.S. financial blocking measures and act as a “backstop” for activities that those restrictions don’t cover.

Although the EU is trying to reform its approach to export controls and other economic security issues, there still are loopholes in the bloc’s rules that allow technology to be illegally exported to China and elsewhere, EU policy experts said this week.

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The U.S. announced more countries signed on to a commitment to place export controls around spyware technology, part of an effort to raise trade guardrails for cyber-related items that can be used for human rights violations. The group, which now includes 17 nations, plans to meet this week to share best practices and exchange policy ideas for how they can better control technologies used for “malicious cyber activity.”

American, Canadian and Mexican customs brokers and freight forwarders are urging Canada to rethink its upcoming deployment of a new customs management system in two months, saying they’re concerned the country’s current approach could significantly disrupt trade.

A trade association representing ASML, Applied Materials and other major semiconductor companies called on the EU to keep any new export controls narrowly targeted and abandon its plans for an outbound investment screening mechanism, saying new restrictions would be a “major interference” for the chip industry. It also cautioned European lawmakers about introducing new supply chain reporting obligations that would place too big a burden on industry.

A Swiss private banking group agreed to pay about $3.7 million to settle allegations that it violated multiple U.S. sanctions programs, including restrictions against Russia and Cuba. The Office of Foreign Assets Control said EFG International AG, which operates about 40 global subsidiaries, bought and sold securities on behalf of people sanctioned by OFAC.

The U.S. announced new export controls against Nicaragua this week in response to human rights abuses by the country's government and its support for Russia’s invasion of Ukraine. The measures, outlined in two final rules effective March 15, will put in place stronger Commerce Department export licensing requirements for Nicaragua and add the country to a list of nations maintained by the State Department that generally don’t receive license approvals for controlled defense items.

Although entities on the Treasury and Defense departments’ Chinese military company lists aren't necessarily subject to export controls, it's still very risky to do certain business with them, former Bureau of Industry and Security officials said this week. They said they would advise companies to treat those listed entities as prohibited Chinese military end-users unless they can prove otherwise.

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.