The U.K.'s Office of Financial Sanctions Implementation renewed a Russia-related license this week that authorizes certain payments involving sanctioned credit or financial institutions. The license, which was set to expire Nov. 6, was extended for two years through Nov. 7, 2027. OFSI also revised the definition of "designated credit or financial institution" and the license's reporting requirements.
The U.S. this week charged a Belorussian citizen with illegally exporting U.S. avionics and aircraft equipment to Russia, including for use by a company on the Entity List.
House Select Committee on China ranking member Raja Krishnamoorthi, D-Ill., and Del. James Moylan, R-Guam, introduced Nov. 4 a companion to a Senate 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 (see 2505290076).
Export Compliance Daily is providing readers with the top stories from last week, in case you missed them. You can find any article by searching for the title or clicking on the hyperlinked reference number.
The U.S. government’s failure to cripple Huawei through export controls shows that it needs a different strategy to counter foreign threats to American technology competitiveness, the Information Technology and Innovation Foundation said in a new report last week. Although the U.S. should still use export controls in certain situations, they should always be applied with allies and used sparingly so as not to use up America’s “technology capital,” the think tank said.
The U.K. last week extended a general license that authorizes certain transactions related to humanitarian activities involving Israel, Palestine and Lebanon. The license was recently renewed through Nov. 14 (see 2410100030), and the Office of Financial Sanctions Implementation again renewed it, this time through Nov. 14, 2027. OFSI also amended certain reporting deadlines, revised the definition for “Relevant Person," changed the definition of “UK Funded Person” to include any person who has received U.K. government funding in the last five years, and more.
The EU this week published its fifth annual report on the implementation and enforcement of EU trade policy, outlining steps that the bloc has taken to remove trade barriers, the status of various trade agreements, trade trends from the past year, and more.
The EU believes China has suspended its recently announced rare earth export controls for all countries, not just the U.S., but the bloc is still gathering information, European Commission spokesperson Olof Gill told reporters in Brussels Nov. 3.
Sen. Ted Cruz, R-Texas, said Nov. 4 that he doesn't know when lawmakers will take up his Nigeria sanctions bill but that he "would like to see it moved sooner rather than later." Cruz said he’s unaware of any opposition to his legislation, which aims to address religious persecution, including the alleged mass killing of Christians.
Reps. Andy Barr, R-Ky., and Jefferson Shreve, R-Ind., both members of the House Foreign Affairs Committee, urged the Treasury Department Nov. 3 to designate the Palestinian Conference for Palestinians Abroad (PCPA) a Specially Designated Global Terrorist, citing the group’s ties to Hamas.