The U.K.'s Office of Financial Sanctions Implementation recently issued new FAQs about its Russia-related general license that applies to certain transactions to cover the costs of arbitration. New FAQs 177-183 address the circumstances under which companies should use the license and what payments are specifically covered. They also clarify that there needs to be a U.K. "nexus" for the payment to be affected by the country's sanctions, state that legal advice and representation in dispute resolution is included in the U.K.'s definition of “Legal Services,” and more.
Rep. Jim McGovern, D-Mass., on Dec. 18 reintroduced a companion to a Senate bill that would require the president to identify and sanction those responsible for torture, abductions and other human rights abuses against Southern Mongolians in China.
The Office of Foreign Assets Control this week sanctioned four companies and their oil tankers for operating in Venezuela’s oil sector. The designations target Corniola Limited and its ship manager and operator, Krape Myrtle Co, which owns the vessel Nord Star and which OFAC said used it to move Venezuelan oil. The agency also sanctioned other oil-moving ships, including Rosalind, whose registered owner is Winky International Limited; and Della and Valiant, whose registered owner is Aries Global Investment LTD.
Uzbekistan national and resident Saodat Narzieva sued the Office of Foreign Assets Control and OFAC Director Bradley Smith Dec. 2, saying the agency mistakenly included her in an April 2023 round of Russia-related sanctions, causing her "substantial" harm.
The recent introduction of several bills to restrict foreign sales of computing chips shows that lawmakers are eager to legislate on the issue but haven't yet reached agreement on how to do so, Morgan Lewis trade lawyer Mike Huneke said in an interview.
Sen. Richard Blumenthal, D-Conn., said Dec. 29 that sanctions should be “strictly enforced” to address Turkey’s reported role in helping Russia's oil industry evade Western sanctions. Blumenthal also said that arms sales to Turkey, such as the F-35 fighter, should be “selectively blocked” until Ankara changes its behavior.
The Office of Foreign Assets Control this week sanctioned 10 people and entities based in Venezuela and Iran that it said are involved in trading and producing unmanned aerial vehicles.
The Office of Foreign Assets Control removed several people from its sanctions list this week, including Alexandra Buriko, former chief financial officer of Russian state-owned Sberbank, who resigned from the bank after Moscow's invasion of Ukraine in 2022. She sued the Treasury Department last year to be removed from the Specially Designated Nationals List, and that lawsuit remains pending.
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The Trump administration plans to convene early next year to try to better organize its approach to AI diffusion and export controls over AI semiconductors, said Paul Triolo, the technology policy lead at advisory firm Albright Stonebridge Group.