The House Select Committee on China is investigating U.S. investment firms BlackRock and index provider MSCI for their “decisions” that led to Americans investing savings into “dozens of blacklisted Chinese companies,” including entities that contribute to China’s human rights abuses, the committee said this week. In letters to the two firms, committee leaders said their investment-related decisions have resulted in Americans “unwittingly funding” Chinese entities building weapons for the country's military and contributing to the government's goal for “technological supremacy.”

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 by clicking on the hyperlinked reference number.

The Office of Foreign Assets Control this week sanctioned one government official from Bosnia and Herzegovina and three from the Republika Srpska, one of two entities comprising Bosnia and Herzegovina, for threatening the “stability, sovereignty, and territorial integrity” of the country. The designations target Nenad Stevandic, speaker and president of the Republika Srpska National Assembly; Radovan Viskovic, prime minister of the Republika Srpska; Zeljka Cvijanovic, a Serb member of the Bosnia and Herzegovina presidency; and Milos Bukejlovic, the Republika Srpska justice minister.

The U.S. this week sanctioned “key leaders” and financial facilitators of the Islamic State group and al-Qaida in Maldives, including 20 operatives and 29 of their companies. The designations also target Maldives-based terrorist-affiliated criminal gangs, including people who have carried out attacks that targeted journalists and local authorities.

The Office of Foreign Assets Control is launching two short-video series to provide “further clarity” on U.S. sanctions requirements, sanctions programs and “practical suggestions on how to comply effectively,” the agency announced last week. The first video, released July 28, is part of a series to “provide viewers with a high-level introduction on the fundamentals of OFAC and sanctions implementation.” The second video series, which will be released in the coming months, will address specific, frequently asked questions from OFAC’s hotline, including “how to most effectively use OFAC’s Sanctions List Search tool and steps to validate a potential sanctions match.”

The Office of Foreign Assets Control last week deleted four Venezuela-related entries from its Specially Designated Nationals List, including Didier Casimiro, who was sanctioned in 2020 for being board chair and president of Russian energy company Rosneft (see 2002180033). OFAC also amended the SDN entry for Tabacos USA, sanctioned in January (see 2301260073). OFAC didn’t release more information.

The Office of Foreign Assets Control this week sanctioned Abdiweli Mohamed Yusuf, the head of the finance office of the Somalia-based affiliate of the Islamic State group. OFAC said Yusuf has played a “key role” in delivering foreign fighters, supplies and ammunition to the Islamic State affiliate, which “serves as a hub for disbursing funds and guidance” to other “branches and networks across the continent.”

The Bureau of Industry and Security this week signed an “agreement” with the Office of Foreign Assets Control to improve coordination among the two agencies’ export control and sanctions enforcement teams, said Matthew Axelrod, the top BIS export enforcement official. The agreement will help in “formalizing our close coordination and partnership,” Axelrod said during a July 26 Society for International Affairs conference, according to a copy of his speech emailed by BIS.

The U.S. this week issued new guidance on its various voluntary self-disclosure policies for sanctions and export control violations, urging companies to disclose offenses and stressing the importance of “robust” compliance programs. The six-page “compliance note,” the second jointly issued by the Commerce, Treasury and Justice departments (see 2303020054), outlines DOJ’s recently updated disclosure policies for criminal export and sanctions violations, the raft of changes made to the Bureau of Industry and Security's administrative enforcement policies over the past year, and the Office of Foreign Assets Control’s procedures for assessing voluntary disclosures. The notice also describes the Financial Crimes Enforcement Network’s whistleblower program.

The Office of Foreign Assets Control this week sanctioned three Malian government and military officials for helping the Russian private military company Wagner Group deploy and expand its operation in Mali. The designations target Sadio Camara, Mali’s defense minister, Alou Boi Diarra, chief of staff of Mali’s Air Force, and Adama Bagayoko, the Malian Air Force deputy chief of staff.