The Office of Foreign Assets Control renewed two Russia-related general licenses last week that authorize transactions related to debt, equity or currency-conversion. Both licenses were scheduled to expire Aug. 13 but now expire 12:01 a.m. EDT Oct. 12.
The European Commission last week released a set of updated frequently asked questions on its Russia-related sanctions, offering guidance on how it treats "partner countries" in the context of its iron and steel restrictions and export controls.
A new U.S. rule expected this month could expand restrictions on foreign exports of certain chip equipment to China but exclude chipmakers in the Netherlands, Japan and South Korea, Reuters reported July 31.
Members of the Federal Maritime Commission are traveling to the Panama Canal this week to examine the supply chain aftereffects from a recent drought (see 2401180050). The FMC also will review the measures the Panamanian government and the Panama Canal Authority “have identified to improve the infrastructure of the Canal and make it more resilient to any future disruptions, particularly droughts.”
Canada will again impose additional temporary import requirements for U.S.-origin romaine lettuce, USDA’s Foreign Agricultural Service said in a report this month. The requirements, which Canada also has imposed in previous years (see 2109280034 and 2308070019), will allow Canadians to import romaine lettuce from the Salinas Valley counties of Santa Clara, Santa Cruz, Monterey or San Benito only if the lettuce tests negative for “E. coli O157:H7.” The requirements will be in effect Sept. 26 through Dec. 28.
Canadian traders should prepare for increased scrutiny from the country’s customs agents for a range of imports in the coming months, and should consider conducting an “internal compliance review” to make sure they’re complying with all duties and trade laws, Baker McKenzie said in a July 25 client alert.
A Massachusetts financial services firm agreed to pay a nearly $7.5 million penalty after the Office of Foreign Assets Control accused its subsidiary of revising dates on invoices to skirt certain financial restrictions on dealings in new Russia-related debt. OFAC said the company’s 38 violations of the Ukraine-/Russia-Related Sanctions Regulations involved more than $1.2 million worth of invoices for companies owned by Russia’s Sberbank and VTB Bank.
U.S. intelligence agencies are warning American emerging technology startups about the risks of accepting certain foreign investments, saying “foreign threat actors” from China and elsewhere are using those investments as a guise to steal sensitive technology.
Sen. Chris Van Hollen, D-Md., questioned a senior Bureau of Industry and Security official this week about whether the agency would consider using its foreign direct product rule to impose more license restrictions on foreign exports of advanced chipmaking equipment to China.
New rules from the Commerce and State departments could lead to a range of new restrictions on U.S. support for certain foreign military intelligence and security services, increasing export licensing requirements for activities that could give U.S. adversaries a “critical military or intelligence advantage.”