The Biden administration this week updated its guidance for companies doing business in Myanmar with new industry sectors and business activities that may lead to sanctions evasion, export control violations or other supply chain risks. The update now specifically mentions Myanmar’s rare earth elements; base metals and gold; timber; and aviation services industries, and warns companies about goods being diverted to military end uses and end users in the country; risks posed by financial services provided by state-owned banks; and ongoing forced labor and human rights abuses against Myanmar workers.
Two House committee chairs have urged the Biden administration to place export restrictions and sanctions on four “highly troubling” Chinese companies that are slated to provide software and other technology to a planned electric vehicle battery factory in the U.S.
The Biden administration’s proposal to impose new restrictions on U.S. investment in certain Chinese technology sectors is a complex undertaking that will be difficult to implement, a former Treasury Department official said on Jan. 30.
Several lawmakers on Jan. 29 urged the Biden administration to reimpose sanctions on Venezuela after the country’s supreme court barred opposition leader Maria Corina Machado from this year’s presidential election (see 2401290048).
The Office of Foreign Assets Control this week sanctioned two cybersecurity experts with ties to the Islamic State group along with a “financial facilitator” that has helped to transfer funds to Islamic State officials in Syria.
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The U.S. is reversing the sanctions relief it gave to Venezuela last year after finding the Nicolas Maduro-led regime has failed to take steps to hold free and fair elections, which has included barring the opposition candidate from participating in the elections and arresting members of the opposition party.
The Bureau of Industry and Security reached a $153,175 settlement with Wabtec, a U.S. rail technology manufacturer and supplier, after the company violated BIS’ antiboycott regulations. The agency said Wabtec committed 43 violations when it failed to report to BIS that it received requests from a Pakistani customer to boycott goods from Israel.
C-suite officials need to be more involved in their companies’ export compliance programs, the Bureau of Industry and Security’s top export enforcement official said this week. He also urged businesses to review -- and potentially expand -- their current programs to keep pace with export controls risks, especially as various government agencies work more closely together on investigations, indictments and sanctions.
The Bureau of Industry and Security is seeing fewer unintended impacts from its most recent October 2023 chip controls compared with the initial set of rules released in 2022, a BIS official said this week. The official also said BIS is working to identify certain companies, including potentially Chinese chip making facilities, that are restricted from receiving sensitive U.S. chip manufacturing equipment, which could help exporters more easily do due diligence on their customers and supply chain partners.