Rep. Tom Kean Jr., R-N.J., chairman of the House Foreign Affairs Subcommittee on Europe, said March 12 that he's drafting a “tough sanctions bill” to help reduce U.S. reliance on Russian state-owned company Rosatom for nuclear fuel.
President Joe Biden extended for one year beyond March 15 a national emergency that authorizes certain sanctions related to Iran. The White House said Iran continues to participate in the "proliferation and development of missiles and other asymmetric and conventional weapons capabilities," support terrorist groups and otherwise threaten U.S. national security.
The Office of Foreign Assets Control this week sanctioned four people with ties to Al-Ashtar Brigades, a Bahrain-based militant group that the U.S. designated as a Foreign Terrorist Organization and Specially Designated Global Terrorist in 2018. The designations, which OFAC said were coordinated with Bahrain, target people who were charged by Bahrain with terrorism-related activities before they fled to Iran to avoid prison.
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A new rule released by the Bureau of Industry and Security clarifies certain export controls on radiation hardened integrated circuits -- including computer and telecommunications equipment using those circuits -- and expands the availability for a license exception that can be used to export certain microelectronics under contracts with the U.S. government.
Adam Deutsch, former director for international economics at the National Security Council, recently joined Meta as its sanctions strategy and emerging risks lead, he announced on LinkedIn last week. Deutsch left the National Security Council in 2022 and was most recently a sanctions advisory manager at PayPal.
The U.K. on March 11 amended the entry for the North Korean Ministry of National Defense under the North Korea sanctions regime, the Office of Financial Sanctions Implementation announced. OFSI noted that the ministry's name changed from the Ministry of the People's Armed Forces to the Ministry of National Defense.
The U.K. on March 8 announced it has extended the deadline for providing additional attestations or itemized ancillary costs under its Russian oil services ban from 28 to 30 days. The change was included as part of the Office of Financial Sanctions Implementation's guidance on the maritime services ban and oil price cap. Under this guidance, OFSI said its attestation process requires different players in the oil supply chain to provide different levels of evidence that the oil they are trading is below the price cap.
To enhance U.S. and allied restrictions on dual-use exports, the Biden administration’s FY 2025 budget request, unveiled March 11, would provide $223 million for the Bureau of Industry and Security, up 17%, or $32 million, from the FY 2024 enacted level of $191 million, the Commerce Department said.
The Office of Foreign Assets Control this week amended and reissued its Global Magnitsky Sanctions Regulations, which now include a “more comprehensive set” of regulations with updated guidance, definitions, general licenses and other provisions meant to “provide further guidance to the public.” The changes, outlined in a final rule effective March 12, replace the regulations that OFAC published in “abbreviated form” in 2018.