President Donald Trump took several steps during his first day in office to reverse, delay or scrutinize trade- and sanctions-related actions introduced by the Biden administration, ordering agencies to study existing export controls for possible loopholes, consider changes to outbound investment restrictions, or possibly postpone some of Biden’s recently issued rulemakings. Trump also revoked a sanctions authority that had targeted Israeli settlers in the West Bank and previewed plans to step up sanctions against drug cartels.
China’s Foreign Ministry announced new sanctions last week against seven companies for their involvement with arms sales to Taiwan, targeting Insitu, Hudson Technologies, Saronic Technologies, Raytheon Canada, Raytheon Australia, Aerkomm and Oceaneering International. The ministry said the sanctions freeze their Chinese assets and block them from doing certain business with Chinese companies. China has issued several rounds of designations against American firms for arms sales to Taiwan in recent months (see 2412050011, 2410100005, 2409180004 and 2407120011).
New guidance published by the EU last week outlines steps people and companies should take to make sure their dual-use goods and technology aren’t being sent to Russia, including red flags they should be monitoring as part of their compliance programs. It also offers insight into how the European Commission interprets violations of the bloc’s anti-circumvention laws, with a specific focus on minimum due diligence expectations for businesses and banks.
Beijing announced new sanctions this week against 13 U.S. companies and six senior executives working in the defense industry for their involvement with arms sales to Taiwan, according to an unofficial translation of a Dec. 5 notice from China’s Ministry of Foreign Affairs. The designations target several drone companies, including Brinc Drones and Kratos UAV Systems, and defense industry officials, including two Raytheon executives. The ministry said the sanctions freeze their Chinese assets and block them from doing certain business with Chinese companies.
Recently passed U.K. legislation gives the country’s top sanctions agency greater intelligence-gathering and enforcement powers, Crowell & Moring said in a November client alert, and could allow it to process license applications more efficiently.
The incoming Trump administration likely will end the Biden administration’s temporary pause on pending decisions for liquefied natural gas exports, Sen. John Kennedy, R-La., said late Nov. 13.
Rep. Dina Titus, D-Nev., introduced a resolution last week urging the Biden administration to pause further transfers or sales of U.S.-made fighter jets to Turkey. Titus criticized Turkish President Recep Tayyip Erdogan for making statements threatening Israel and supporting the terrorist group Hamas in its war on Israel. The measure was referred to the House Foreign Affairs Committee. The State Department formally notified Congress in January that it approved Turkey’s request to buy 40 new F-16s and modernize 79 existing ones for a total of $23 billion (see 2401290067).
Recent Chinese sanctions against American drone-maker Skydio will limit the company’s battery supply, the firm’s CEO said this week, calling the restrictions an “attempt to eliminate the leading American drone company and deepen the world’s dependence on Chinese drone suppliers.”
China announced sanctions this week on three U.S. companies that supply the defense industry -- Edge Autonomy, Huntington Ingalls Industries and Skydio -- along with 10 defense industry executives for their ties to arms sales to Taiwan, according to an unofficial translation of a notice from the country’s Ministry of Foreign Affairs. The designations target employees from those three firms along with Sierra Nevada, Lockheed Martin, Northrop Grumman and other defense companies. The ministry said the sanctions freeze their assets in China, and people and entities in China are blocked from “conducting relevant transactions” with them.
A Russian oligarch’s attempt to dispute EU sanctions freezing his funds failed in an EU appellate court last week.