The U.S., Japan and South Korea have formally launched the Disruptive Technology Protection Network to share information and best practices on keeping sensitive technology out of the hands of adversaries, the Bureau of Industry and Security announced April 26. The kickoff occurred during an April 25 trilateral summit in Washington, D.C. The network, which the countries' leaders last year agreed to form, is based on the Disruptive Technology Strike Force that BIS launched with DOJ in February 2023 to pool resources for investigating export control violations (see 2302160019).
The Commerce Department should start preparing export controls for dual-use artificial intelligence models, which could prevent those models from being used to make biosecurity weapons or skirt U.S. export restrictions on advanced semiconductors, researchers told the agency in comments released this month. But technology companies and industry groups warned the U.S. against overbroad controls, which they said could hurt American AI innovation.
The Commerce Department announced new export restrictions April 26 that it says are intended to reduce the risk that firearms end up in the hands of criminals, terrorists or cartels.
Luxembourg authorities on April 23 assessed an over $841,000 administrative fine against wealth management firm Fuchs & Associés Finance S.A. for anti-money laundering and sanctions compliance violations.
Sen. Marco Rubio, R-Fla., criticized the Biden administration April 25 for reportedly planning to sanction a battalion of the Israel Defense Forces (IDF) for alleged human rights violations against Palestinians in the West Bank (see 2404220047). Rubio said in a statement that the designation would “stigmatize the entire IDF” and “encourage” terrorist groups Hamas and Hezbollah and their Iranian government backers.
Rep. Maxine Waters, D-Calif., ranking member of the House Financial Services Committee, and four Democratic senators urged the U.S. Court of Appeals for the 11th Circuit to reverse a district court judge’s ruling that the Corporate Transparency Act (CTA) is unconstitutional.
Treasury Secretary Janet Yellen, in an interview with Reuters, said that while in her view, outright seizure of frozen Russian assets in the U.S. and Europe is justifiable, that's not the only option to put those assets to use to help Ukraine's economy survive the Russian invasion.
The Office of Foreign Assets Control is sanctioning 16 entities, eight people, five vessels and one aircraft for their involvement in the Iranian military’s drone trade, the agency announced April 25.
The Bureau Industry and Security on May 30 will begin revoking some export licenses for firearms, and shortening the lengths of others, in line with changes to export controls for firearms made in an interim final rule released April 26.
Russia is still able to buy semiconductors for its war effort -- especially from China -- despite Western sanctions and export controls, a semiconductor policy researcher said in a new report this month. Although the restrictions are forcing Russia to pay almost double for some chips and require Russian supply chain managers to constantly find new supply lines, the report said Chinese suppliers are increasingly filling the market gap left by companies in the U.S. and elsewhere who are adhering to the export restrictions.