Congress should create a new, “permanent” committee in the executive branch tasked with planning sanctions against China under “a range of possible scenarios,” including if it invades Taiwan, a congressional commission said this week. The bipartisan commission also said the Commerce Department should provide Congress with regular enforcement and licensing reports on certain China-related export control decisions and said the administration should create a new list of Chinese firms that should be subject to strict export licensing requirements.
Julia Webster, former senior associate at Borden Ladner, has joined Baker McKenzie as a partner in the international commercial and trade practice, the firm announced. Based in Toronto, Webster will focus on "trade remedies, free trade agreements, blocking measures, customs compliance, anti-corruption laws, economic sanctions, supply chain ethics, and cross-border M&A," the firm said. Webster previously worked as a senior associate in Borden Ladner's disputes and international trade practice. She is a sessional lecturer at law school of Queen's University in Kingston, Ontario.
The U.K.'s Office of Financial Sanctions Implementation on Nov. 14 released a blog post and guidance on the Russian oil price cap. The post coincides with the introduction of the maritime services ban and the price cap exception for crude oil. OFSI said that a General License creating the price cap will be released before Dec. 5 and that additional licenses to "ensure international alignment and the smooth operation of the Price Cap will also be published" before Dec. 5.
The U.K. released a General License, titled, "Funds of non-designated third parties involving designated credit or financial institutions." Granted under the U.K.'s Russia sanctions regulations, the license lets an individual use the retail banking services of a designated credit or financial institution if payments made or received are intended for personal use. Payments cannot exceed around $59,500, and the individual making or receiving the payment must report the payment details to the Treasury. The one-year license expires Nov. 10, 2023.
Of all the outstanding trade policy options -- new trade promotion authority, requiring Section 301 exclusions, revisions to antidumping law and a customs modernization law -- the head of government relations at Flexport said he thinks customs modernization is the most likely to pass. "I think we are coming on the cusp of something," Darien Flowers said, and said he thinks a bill will be enacted before 2025. Flowers once worked for Sen. Bill Cassidy, the Louisiana Republican who is leading the bill, though more recently he served on the minority staff of the Senate Commerce Committee.
The Office of Foreign Assets Control this week issued Counter Terrorism General License 21, which authorizes certain transactions related to safety and environmental measures through Dec. 15 for certain vessels blocked by the Global Terrorism Sanctions Regulations. The license allows docking, repair, crew safety and "environmental mitigation or protection" activities related to vessels owned by Victor Artemov and other shipping companies: Azul Vista Shipping Corp., Blue Berri Shipping Inc., Harbour Ship Management Limited, Pontus Navigation Corp., Technology Bright International Ltd., Triton Navigation Corp., and Vista Clara Shipping Corp.
The U.S. and EU will hold a virtual "stakeholders outreach event" Nov. 21 to discuss the impact of export controls for dual-use research and academic communities. The event -- hosted by the U.S.-EU Trade and Technology Council's Export Control Working Group -- will "address the concerns and expectations of US and EU research community for the work of" the export control working group "moving forward." The event will feature remarks by the group's chairs and co-chairs and will include an open discussion to "gather feedback and ideas for future initiatives in this area." Registration closes Nov. 17.
The U.S. this week sanctioned firms and people involved in making drones and transferring them from Iran to Russia, including an Iranian producer and two United Arab Emirates entities. The designations come less than a month after the U.S. said it was considering additional sanctions on both Russia and Iran following Iranian sales and operation of drones in Ukraine (see 2210210046).
U.S. and foreign companies “seem to be equally confused” by the Bureau of Industry and Security's new China chip export restrictions (see 2210070049), said Alison Stafford-Powell, a trade compliance lawyer with Baker McKenzie, speaking Nov. 15 during a virtual event hosted by the law firm. She called the new BIS rule “incredibly complex" and said industry needs more guidance from the agency.
The Bureau of Industry and Security's new administrative enforcement policies, including higher penalties for more serious violations, hasn’t led to a significant rise or fall in voluntary self-disclosures so far, said Matthew Axelrod, the agency’s top export enforcement official. Axelrod, speaking during a Nov. 14 event hosted by the Society for International Affairs, said BIS received 150 new VSDs since the policy change in June (see 2206300069), which he said was about the same number it received during the same time period each of the last two years.