The Office of Foreign Assets Control this week sanctioned Hong Kong-registered Kohana Company Limited and Marshall Islands-registered Iridescent Co Ltd. for operating a vessel shipping more than $100 million worth of Iranian commodities to China. The Panama-flagged Kohana is on its way to China, where it plans to offload the cargo to Chinese businesses, OFAC said.
Exports to China
The six co-cordinators of the World Trade Organization's Dialogue on Plastics Pollution and Environmentally Sustainable Plastics Trade outlined several "trade-related actions" countries should take to address the environmental, health and economic impacts of plastics pollution, the WTO announced Feb. 27. The co-coordinators -- Australia, Barbados, China, Ecuador, Fiji and Morocco -- released the text as part of the 13th Ministerial Conference.
The Bureau of Industry and Security added a Chinese electronics company and a Canada-headquartered technology software company to the Entity List for trying to illegally acquire U.S. items or for being involved in other activities that are “contrary” to U.S. national security and foreign policy, the agency said Feb. 26. It also removed one United Arab Emirates-based entity from the Entity List.
China criticized the U.S. decision last week to sanction Chinese companies for allegedly helping Russia evade trade restrictions (see 2402230035). A Foreign Ministry spokesperson said Feb. 26 that China “maintains an objective and impartial position” on the Russia-Ukraine war, and “normal trade and economic cooperation between China and Russia is not targeted at any third party or subject to any interference by any third party.” The spokesperson said Beijing “firmly opposes illegal unilateral sanctions against Chinese companies and will take necessary measures to resolutely protect the legitimate rights and interests of Chinese companies.” The remarks were in response to a TASS news agency question during a regular press conference in Beijing.
The U.S. announced a new set of sweeping Russia-related export controls and sanctions last week to mark the two-year anniversary of Moscow’s invasion of Ukraine and to respond to Russian opposition figure Alexei Navalny's death in prison. The measures include nearly 100 additions to the Commerce Department’s Entity List, more than 500 sanctions designations by the Treasury and State departments and new government guidance, including a new business advisory to warn companies about Russia-related compliance risks.
The EU announced its 13th sanctions package on Russia last week to mark two years since Russia invaded Ukraine, imposing designations against another 194 people and companies while expanding the list of advanced technology items that Russia is seeking for its defense and technology sectors.
The Bureau of Industry and Security added two entities to the Entity List for trying to illegally acquire U.S. items or for being involved in other activities that are “contrary” to U.S. national security and foreign policy, the agency said Feb. 26. The entities are China-based Chengdu Beizhan Electronics and Sandvine Incorporated, which has locations in multiple countries. Effective Feb. 27, the companies are subject to license requirements for all items subject to the Export Administration Regulations, and licenses will be reviewed under a presumption of denial.
The U.S. announced a new set of sweeping Russia-related export controls and sanctions this week to mark the two-year anniversary of Moscow’s invasion of Ukraine and to respond to Russian opposition figure Alexei Navalny's death in prison. The measures include nearly 100 additions to the Commerce Department’s Entity List and more than 500 sanctions designations by the Treasury and State departments in what the U.S. said is its largest single tranche of designations since Russia began the war in 2022.
Five members of the House Select Committee on China are visiting Taiwan Feb. 22-24 to show support for the democratic country and discuss trade and investment, regional security and other issues with senior Taiwanese leaders and members of civil society, the committee said.
The Bureau of Industry and Security this week eliminated some license requirements for exports of certain cameras, systems and related components, which the agency said will help U.S. exporters better compete with foreign firms and reduce licensing burdens. The final rule, released Feb. 22, also introduces a new control for certain high-speed cameras that BIS said pose proliferation risks.