The EU is preparing another package of Russia sanctions, European Commission President Ursula von der Leyen said on LinkedIn, including a measure that could lower the price cap on Russian oil from its current level of $60. The sanctions would specifically target "Russia's energy revenues, including Nord Stream infrastructure, Russia's banking sector" and would involve "lowering the crude oil price cap," the commission said.
The FBI is asking for information about people who may have been victimized by Funnull Technology Inc., the Philippines-based company that was sanctioned last month for providing computer infrastructure for hundreds of thousands of websites involved in virtual currency investment scams (see 2505290010). The agency said it’s investigating “fraudulent cryptocurrency investment platforms and companies,” and people who believe they have “fallen victim” to Funnull or another similar scammer should contact the FBI and provide “as many transaction details as possible, including cryptocurrency addresses, amount and type of cryptocurrency, date and time, and transaction ID (hash).”
Banks need more guidance from the Office of Foreign Assets Control to comply with the agency’s new timeline for new sanctions-related recordkeeping requirements, which were extended from five years to 10 years (see 2503190003), the American Bankers Association said.
A grand jury indictment unsealed last week charges two people with trying to pay millions of dollars to ship U.S. export controlled technology and weapons to China, offering in some cases more than double the market rate to buy military jet engines, drones, cryptographic devices and other sensitive technologies.
China's Foreign Ministry criticized recent measures by the U.S. Bureau of Industry and Security to restrict exports of a range of items to China, saying Beijing "firmly" opposes the controls and "will resolutely defend our legitimate rights and interests."
Sen. Tom Cotton, R-Ark., warned Nvidia and other U.S. chip firms last week that they will face penalties if they send advanced AI chips to China.
Sens. Chris Coons, D-Del., and David McCormick, R-Pa., have introduced a bill that would require the executive branch to develop a strategy to counter deepening cooperation among U.S. "adversaries" in such areas as sanctions evasion and the sharing of restricted dual-use technology, the lawmakers announced May 27.
DOJ should investigate Chinese autonomous-trucking company TuSimple for violating U.S. export controls, Sen. Josh Hawley, R-Mo., said May 30.
Taiwan is offering to impose more stringent export controls and investment screening measures to prevent “high-risk countries” from obtaining sensitive semiconductors and other critical technologies, the country’s government told the Bureau of Industry and Security.
At least three companies last week disclosed receiving letters from the Bureau of Industry and Security informing them of new license restrictions they must follow for certain exports to China, including two semiconductor design firms and one oil company.