President Donald Trump announced on Truth Social late Dec. 8 that he has decided to allow the sale of Nvidia’s H200 AI chips to “approved customers” in China.
House and Senate negotiators have reached agreement on a final FY 2026 National Defense Authorization Act (NDAA) that includes legislation to limit U.S. outbound investment in China but omits a Senate proposal to restrict exports of advanced AI chips.
Nvidia CEO Jensen Huang was critical last week of U.S. policies that he said are restricting the company from selling its advanced chips in China and pushed back on claims that Nvidia AI processors are being smuggled into the country.
The Office of Foreign Assets Control this week announced a $7.1 million penalty against a New York-based property management firm for receiving payments from another company owned by sanctioned Russian oligarch and metals industry magnate Oleg Deripaska. OFAC said the New York company, Gracetown, Inc., failed to report the blocked assets to OFAC for 45 months after the agency notified the firm that the payments risked violating U.S. sanctions.
House Foreign Affairs Committee ranking member Gregory Meeks, D-N.Y., said Dec. 4 that he is seeking several changes to a Russia sanctions and tariffs bill that lawmakers are trying to get through Congress this month.
The EU released its new economic security doctrine this week (see 2511170007), outlining plans to build on the bloc’s existing trade defense measures and vowing to more aggressively use investment screening, export controls and other tools to protect EU companies.
The U.S. should maintain and strengthen export restrictions on advanced chips and semiconductor manufacturing equipment to preserve its edge over China in AI, a panel of experts told lawmakers Dec. 2.
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The lead sponsor in the House on a Russia sanctions and secondary sanctions bill said that negotiations are still ongoing between the two chambers on the final language of the bill.
The Office of Foreign Assets Control and Chicago-based private equity firm IPI Partners reached a nearly $11.5 million settlement to resolve accusations that the firm violated sanctions against Russia through its business dealings involving a designated Russian oligarch.